Europa Oil & Gas Regulatory News (EOG)

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 24 February 2014 Europa Oil & Gas (Holdings) plc (`Europa' or `the Company') Renewal of Tarbes Val d'Adour Permit, Onshore France Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration,development and production company focused on Europe, is pleased to announcethe renewal of its 100% owned Tarbes Val d'Adour permit (`Tarbes' or `thePermit'), in the proven Aquitaine Basin, onshore France. The Permit has been extended until 18 January 2015. Tarbes Val d'Adour containsseveral oil accumulations that were previously licensed by Elf but wereabandoned in 1985 due to a combination of technical issues and low oil prices.Two fields, Jacque and Osmets, were drilled using vertical wells whichgenerated modest production levels. Hugh Mackay, CEO of Europa, said, "Thanks to previous operators recoveringmodest quantities of oil from two fields on the Permit, Tarbes is an appraisalrather than an exploration project. While not on the same scale as ourpotential company-making Bearn des Gaves permit onshore France and our twoKosmos Energy operated licences offshore Ireland, Tarbes offers a relativelylow cost business development opportunity. In tandem with our on-going farm-outdiscussions for the Bearn des Gaves permit, we will now look to secure apartner with whom we can look to advance Tarbes in the limited time available. "Elsewhere in our portfolio, we remain on course to drill two wells onshore UKin 2014, starting with the Wressle prospect in the first half of the year andKiln Lane in the second, each with a one in three chance of success. OffshoreIreland, we expect to complete the interpretation of the 3D seismic surveyacquired in Q3 2013 by the end of June 2014, at which time decisions will bemade in respect of drilling the Kiernan and Mullen prospects. This is anexciting period for the Company and I look forward to providing further updateson our progress in due course." * * ENDS * * For further information please visit www.europaoil.com or contact: Hugh Mackay Europa +44 (0) 20 7224 3770 Phil Greenhalgh Europa +44 (0) 20 7224 3770 Matt Goode finnCap Ltd +44 (0) 20 7220 0500 Henrik Persson finnCap Ltd +44 (0) 20 7220 0500 Frank Buhagiar St Brides Media and Finance Ltd +44 (0) 20 7236 1177 Lottie Brocklehurst St Brides Media and Finance Ltd +44 (0) 20 7236 1177 Notes Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stagehydrocarbon assets that includes production, exploration and developmentinterests, in countries that are politically stable, have transparent licensingprocesses, and offer attractive terms. The Company produced 170 boepd in the UKduring the first half of the 2013/2014 financial year, generating sufficientrevenues to cover corporate overheads. Its highly prospective explorationprojects include the Wressle and Kiln Lane prospects in the UK where wells aredue to be drilled this year; 100% owned gas exploration prospect (416 bcf) andappraisal project (CPR 277 bcf) in onshore France; and a joint venture withleading independent Kosmos to explore two licences in offshore Ireland in whichEuropa has identified two prospects with estimated gross mean un-riskedindicative resources of 482 million barrels oil and 1.6 billion barrels oilrespectively.