Europa Oil & Gas Regulatory News (EOG)

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 20 October 2014 Europa Oil & Gas (Holdings) plc (`Europa' or `the Company') Update on Wressle-1 Well, onshore UK Europa Oil & Gas (Holdings) plc, the AIM quoted oil and gas exploration anddevelopment company with a combination of producing and exploration assets inEurope, is pleased to note the announcement of Egdon Resources today confirmingthat detailed petrophysical and reservoir engineering evaluation on theWressle-1 exploration well on the PEDL 180 licence in East Lincolnshire hasconfirmed the presence of potential hydrocarbon bearing zones in three separatereservoir intervals. Production testing of these intervals using a workover rigis due to start in November 2014. Europa has a 33.3% working interest in PEDL180, alongside its partners Egdon Resources (operator, 25%), Celtique EnergiePetroleum Ltd (33.3%), Union Jack Oil (8.3%). Wressle is a conventional hydrocarbon prospect located in the East MidlandsPetroleum Province, 5 km southeast of and along the same structural trend asthe Europa operated, Crosby Warren field which has been producing oil foralmost 28 years. The Company is also pleased to confirm that preparations for the Europaoperated Kiln Lane conventional exploration well on the PEDL 181 licence areproceeding according to plan and that operations are anticipated to commence onsite before year end, subject to the relevant planning permissions and EAmining waste permit being granted in a timely manner. Europa estimates the KilnLane prospect holds gross mean prospective of 2.9 mmbo and a discovery on thislarge previously undrilled licence would open up a new conventional oil and gasplay and significantly de-risk additional leads identified on the licence.Europa holds a 50% interest and is operator of PEDL 181 which covers 540 sq kmin East Lincolnshire, a known oil producing region. Europa's CEO, Hugh Mackay said, "Having identified over 30 metres of potentialhydrocarbon pay in three main intervals we look forward to the commencement oftesting operations on the Wressle 1 well in the next few weeks and to determineif we have made a commercial discovery. Testing Wressle will be closelyfollowed by drilling the 2.9mmbo conventional Kiln Lane prospect. CombinedWressle and Kiln Lane have the potential to transform our existing UK onshoreproduction profile. I look forward to providing further updates on our progressin the UK and elsewhere in our portfolio including our two offshore Irelandblocks where we are due to receive a new prospect inventory from our partnerKosmos Energy." * * 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 165 boepd in the UKduring the 2013/2014 financial year, generating sufficient revenues to covercorporate overheads and some exploration expenditure. Its highly prospectiveexploration projects include the Wressle (recently drilled and scheduled fortesting) and Kiln Lane prospects (due to be drilled this year) in the UK; 100%owned gas exploration prospect (107 bcf) and appraisal project (CPR 277 bcf) inonshore France; and a joint venture with leading independent Kosmos to exploretwo licences in offshore Ireland in which Europa had previously identified twoprospects with estimated gross mean un-risked indicative resources of 482million barrels oil and 1.6 billion barrels oil respectively. Qualified Person Review This release has been reviewed by Hugh Mackay, Chief Executive of Europa, whois a petroleum geologist with 30 years' experience in petroleum exploration anda member of the Petroleum Exploration Society of Great Britain, AmericanAssociation of Petroleum Geologists and Fellow of the Geological Society. MrMackay has consented to the inclusion of the technical information in thisrelease in the form and context in which it appears.