Europa Oil & Gas Regulatory News (EOG)

31 May 2006 07:00

For immediate release: 31 May 2006 Europa Oil & Gas (Holdings) plc Romania Seismic Update The Directors of Europa Oil & Gas (Holdings) plc, the production andexploration company, are pleased to announce the completion of the planned 300km seismic acquisition programme on Brodina, Cuejdui and Bacau Blocks inRomania. The partnership acquired 200 km of new seismic on the Brodina Block,which contains the Bilca Gas Development, and 50 km of new seismic on each ofthe Cuejdui and Bacau Blocks.Preliminary results have highlighted the appearance of a number of significantnew seismic anomalies in the eastern part of the Brodina Block. Several areasare prone to high amplitudes in the Sarmatian sequences similar to, butpotentially larger than, those which led to the group's successes in the Bilcaarea. Consequently, the partnership has approved the acquisition of 62 km ofnew infill seismic over these areas in order to select a drilling location.This infill seismic will be acquired as soon as possible this summer.In addition, the group will look to acquire up to 40km of new seismic data overthe Voitinel area, a large structural lead in the central part of the Brodinablock.Preliminary results over the Cuejdui and Bacau Blocks are also very encouragingwith the all of the initial leads confirmed and in some cases larger than onthe previous interpretation.Work will commence on the seismic interpretation over all three blocks when thefinal processed data are received in the next month or so. It is believed thatthe seismic interpretation mapping will lead to several drilling locations forthe 2007 drilling programme.Paul Barrett, Managing Director, said, "We are delighted the infill survey tothe south of the Bilca Development has identified further areas of significantpotential in the Sarmatian gas play. So much so, that in order to properly plana 2007 drilling campaign, additional data will be acquired this summer. We lookforward to a fruitful drilling campaign on these licences in the next 12months".Note for Editors:Europa has a 28.75% working interest in the Brodina and Cuejdui Blocks,situated in the northern part of the prolific East Carpathian oil and gasprovince. The Brodina Block contains the Bilca and Fratauti Fields, a gasdevelopment resulting from discoveries made by the group and due onstream insummer 2006. In the third block, Bacau, Europa holds a 47.5% interest. Allthree blocks are operated by Aurelian Oil & Gas.About Europa Oil & Gas (Holdings) plcEuropa Oil & Gas (Holdings) plc - AIM: EOG - focuses on the production andexploration of hydrocarbons in Europe and North Africa. It currently produces210 barrels of oil per day from UK onshore fields and 25 barrels of oilequivalent from the Ukraine. Production is expected to rise significantly afterits Romanian Bilca Gas Project comes onstream later this year. Operating abalanced portfolio, Europa currently has field appraisal activity on projectsin the UK Southern Gas Basin and onshore Romania and exploration activity on afurther eight licences across the Europe - North Africa region. For moreinformation please visit www.europaoil.com.Further information:Paul Barrett, Managing Director, Europa Oil & Gas (Holdings) plc +33 5 63 33 1897Jonathan Wright / Parimal Kumar, Seymour Pierce Limited +44 20 7107 8000Jade Mamarbachi / Toby Hall, gth media relations +44 20 7153 8035ENDEUROPA OIL & GAS (HOLDINGS) PLC