Europa Oil & Gas Regulatory News (EOG)

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 23 September 2013 Europa Oil & Gas (Holdings) plc (`Europa' or `the Company') Update on Holmwood, Onshore UK Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration anddevelopment company with a combination of producing and exploration assets inEurope, notes that, following the Company's successful High Court challenge on25 July 2013 in relation to the drilling of a temporary exploratory well at theHolmwood prospect (`Holmwood') in the PEDL143 licence in the Weald Basin, theLeith Hill Action Group (`LHAG') submitted an appeal to the Court of Appealagainst the High Court decision on 19 September 2013. As announced previously on 25 July 2013, Mr Justice Ouseley gave judgment infavour of quashing the decision of the Secretary of State for Communities andLocal Government's appointed Inspector to dismiss an appeal by Europa againstSurrey County Council's refusal to grant planning permission to drill at theHolmwood drillsite. LHAG was granted leave to appeal, to the Court of Appeal,against his judgment. Further details regarding the appeal will be announced indue course. Europa's CEO, Hugh Mackay said, "Europa is an established hydrocarbon producerand has extensive experience and a proven track record in operating onshore UKsites. As a result, we believe we are well placed to drill a conventionalexploratory well at Holmwood and properly restore the site. We will thereforecontinue to make every effort to obtain the necessary permissions that willallow us to drill a temporary exploration well at Holmwood. "Progress continues to be made elsewhere in our portfolio including thecontinued acquisition of 3-D seismic by our partner Kosmos Energy in the SouthPorcupine Basin, offshore Ireland, a year ahead of schedule. Meanwhile in theUK, we will be participating in the drilling of the Wressle prospect later thisyear which we rate as having a 1 in 3 chance of materially adding to ourexisting production of 180boepd. I look forward to providing further updates tothe market in due course." * * ENDS * * For further information please visit www.europaoil.com or contact: Hugh Mackay Europa +44 (0) 20 7224 3770Phil Greenhalgh Europa +44 (0) 20 7224 3770Matt Goode finnCap Ltd +44 (0) 20 7220 0500Henrik Persson finnCap Ltd +44 (0) 20 7220 0500Frank Buhagiar St Brides Media and Finance Ltd +44 (0) 20 7236 1177Lottie 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 currently producesapproximately 180 boepd in the UK, generating sufficient revenues to covercorporate overheads. Its highly prospective exploration projects include theWressle prospect in the UK where a well is due to be drilled later in 2013; anda joint venture with leading independent Kosmos Energy to explore two licencesin offshore Ireland in which Europa has identified two prospects with estimatedgross mean un-risked indicative resources of 482 million barrels oil and 1.6billion barrels oil respectively. Europa holds a 40% interest in PEDL 143 alongside Egdon Resources (38.4%),Altwood Petroleum (1.6%), and Warwick Energy (20%).