Drilling Report - Crosby Warren

Europa Oil & Gas (Holdings) plc                        

                          (the `Company' or `Europa')                          

                          Crosby Warren-2Y reaches TD                          

The Directors of Europa Oil & Gas (Holdings) plc, the production and
exploration company, are pleased to announce that the CW-2Y well at the Crosby
Warren Oilfield, North Lincolnshire (Europa 100%), has reached a final total
depth of 1,720 metres.

The well has been logged and several sandstone intervals within the upper part
of the Beacon Hills Flags Formation (BHF) are interpreted as being oil-bearing
between 1640 and 1676m. In total 5m of probable pay exists in the BHF, with a
possible further 3m in thin beds. CW-1 has produced over 650,000 bbls to date
from approximately 7m of pay in the BHF. The CW-2Y well will be completed with
a 4 ½" liner and prepared for production. Additional potential oil pay exists
in a 5 metre thick sandstone, equivalent to the Chatsworth Grit, at a depth of
1,600m which will be perforated and tested at a later date.

Paul Barrett, Managing Director, said "Delays due to equipment problems were
overcome late last week and the drilling completed successfully. We now look
forward to obtaining production from this well and will report on how the well
performs in due course."

About Europa Oil & Gas (Holdings) plc

Europa Oil & Gas focuses on the production and exploration of hydrocarbons in
Europe and North Africa. Europa currently produces oil from three fields in the
UK. Operating over two-thirds of its portfolio with an average working interest
of 60%, Europa also has field appraisal and exploration activity on a number of
projects in the UK and Romania and a strong new ventures programme across
Europe and the North African region.

Reviewed by a Qualified Person

The technical information and opinions contained in this announcement have been
reviewed by Paul Barrett, Managing Director of Europa Oil & Gas, who is a
geologist with over 26 years of relevant experience in the upstream oil and gas
industry.

For more information please visit www.europaoil.com

For further information, contact:

Paul Barrett, Managing Director, Europa Oil & Gas [phone]

Jonathan Wright or Parimal Kumar, Seymour Pierce [phone]