Europa Oil & Gas Regulatory News (EOG)

18 Apr 2007 07:00

Europa Oil & Gas (Holdings) plc Romanian 2007 Drilling Campaign Underway

The Directors of Europa Oil & Gas (Holdings) plc, the production and exploration company, are pleased to announce the spudding yesterday of the Radauti East-1 exploration well in the EIII-1 Brodina Concession in northern Romania.

This well, which is operated by Aurelian Oil & Gas, is anticipated to take 10 days to reach the main target horizon. The well location has been chosen to allow the testing of two additional secondary target horizons. All of these target horizons are of Sarmatian age, similar to the Bilca Field reservoir.

On completion of Radauti East-1, which has a planned total depth of 935 metres, the rig will move to drill Arbore-1, in the south of the EIII-1 Concession.

Paul Barrett, Managing Director, said "It is very satisfying to be drilling again after a break of over a year spent acquiring seismic and geological data and we are now embarking on an aggressive 5 well drilling programme in Romania for 2007."

About Europa Oil & Gas (Holdings) plc

Europa Oil & Gas (Holdings) plc focuses on the production and exploration of hydrocarbons in Europe and North Africa. Europa currently produces 600 barrels of oil equivalent per day from its operations in the UK, Romania and the Ukraine. Operating a balanced portfolio, Europa also has field appraisal and exploration activity on a number of projects in the UK and Romania and a strong new ventures programme across Europe and the North African region.

For more information please visit www.europaoil.com

For further information, contact:

Paul Barrett, Managing Director, Europa Oil & Gas +33 5 63 33 18 97

Jonathan Wright or Parimal Kumar, Seymour Pierce +44 20 7107 8000