Granting of Options

16 May 2008 15:41

Europa Oil & Gas (Holdings) plc 16 May 2008 ISSUE OF OPTIONS

Europa Oil & Gas (Holdings) plc announces that Phil Greenhalgh , Finance Director and Roderick Corrie, Non Executive Director, have been granted respectively 1,250,000 and 500,000 options over ordinary shares in the company. All the options have an exercise price of 20p and a 10 year life. One third of the options are exercisable after 18 months, a further third after 30 months and the balance after 42 months. These are the first options issued to Mr Greenhalgh and Mr Corrie.

ENDS

For further information contact:

Paul Barrett, Managing Director, Europa Oil & Gas +44 1235 553266

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