Bilca Gasfield Production Onstream

For immediate release: 28 September 2006

                        Europa Oil & Gas (Holdings) plc                        

                      Bilca Gasfield Production Onstream                       

The Directors of Europa Oil & Gas (Holdings) plc (AIM:EOG), the Europe and
North Africa-focussed production and exploration company, are pleased to
announce that the Romanian authorities have issued the production licence for
the Bilca Gasfield facility, northern Romania, where Europa has a 28.75%
working interest.

Production at the Bilca Gasfield facility commenced on 27 September 2006, only
28 months after discovery of the field. The Bilca-1 discovery well was drilled
by Europa and its partners (see below) in May 2004 and flowed at a rate of 6.3
MMscf/d (c.1050 boepd). This was closely followed by the successful Bilca-2
appraisal well in February 2005 and the Fratauti-1 discovery well in April
2005. The Fratauti well flowed at 12.7 MMscf/d (c.2120 boepd) on test and the
Bilca-2 well was tested in July 2006 at a comparable rate to the Bilca-1 well.
The Bilca Gasfield facilities are designed to produce gas from the Bilca and
Fratauti gas fields.

The October 2006 contract for gas sales is set at 7 MMscf/d, approximately 1030
boepd. The Bilca and Fratauti gas fields will be monitored for the first six
months at this rate for reservoir performance. The Bilca Gasfield facility is
capable of producing at a rate of 10 MMscf/d. Gas production will be increased
at the end of the monitoring period if this planned production rate is
achievable.

The net production to Europa is 1.78 MMscf/d, approximately 300 boepd. This
will bring Europa's daily production to over 500 boepd, an increase of 130%.

Paul Barrett, Managing Director of Europa Oil & Gas said:

`This marks a significant increase in the Company's production and the increase
in revenue will flow through to the 2007 drilling programme where we have
several wells scheduled for Romania. Romania has one of the most prolific
onshore petroleum provinces in Western Europe and we anticipate that further
successes will be forthcoming in this region. In addition, the country has just
been approved to join the EU in January 2007 which we expect to have a strong
positive effect on gas prices in the near future."

Europa's partners in the Bilca Development are:

Falcon Oil & Gas srl (a subsidiary of Aurelian Oil & Gas plc, AIM:AUL),
Romgaz SA
Millennium IRL (a subsidiary of Ascent Resources plc, AIM:AST).

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About Europa Oil & Gas (Holdings) plc

Europa Oil & Gas plc, is involved in the exploration and production of
hydrocarbons in Europe and North Africa. The Company has a balanced portfolio
of 13 oil and gas exploration and production assets in the UK, Romania,
Ukraine, Poland and Western Sahara.

For more information please visit www.europaoil.com.

Further information:

Paul Barrett, Managing Director, Europa Oil & Gas (Holdings) plc [phone]
97

Jonathan Wright / Parimal Kumar, Seymour Pierce Limited [phone]

Jade Mamarbachi / Toby Hall, gth media relations [phone]