Drilling Report

1 Nov 2010 08:17

1 November 2010

Drilling Update - Barchiz

The Directors of Europa Oil & Gas (Holdings) plc would like to update the market on progress at Barchiz, the Romanian exploration well, spudded in mid-October.

Currently, the well is drilling the top-hole section at 406m. Minor oil shows and mud gas indications were encountered in sandstones over the interval 268 - 275m, providing evidence for an active petroleum system in the Barchiz area.

It is anticipated that the well will reach the target horizon at a depth of approximately 1,400m in 2-3 weeks time.

Further information:

Europa Oil & Gas

Paul Barrett / Philip Greenhalgh Tel: +44 1235 553 266

finnCap

Sarah Wharry / Henrik Persson, Corporate Finance Tel: +44 207 220 0567 Joanna Weaving, Corporate Broking Tel: +44 207 600 1658