Commencement of Drilling at Kiln Lane, onshore UK

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas  

23 February 2015

          Europa Oil & Gas (Holdings) plc (`Europa' or `the Company')          

          Commencement of Drilling at Kiln Lane Prospect, onshore UK           

Europa Oil & Gas (Holdings) plc, the AIM quoted oil and gas exploration and
development company with a combination of producing and exploration assets in
Europe, is pleased to announce its Kiln Lane -1 conventional exploration well
(`Kiln Lane') on Licence PEDL 181 in Northeast Lincolnshire spudded at 0706
hours on 23 February 2015. The Company estimates Kiln Lane has mean gross
un-risked recoverable resources of 2.9 million barrels of oil. Europa is
operator of and has a 50% working interest in PEDL 181, which covers an area of
over 540 km2 in the East Midlands Petroleum Province. Egdon Resources and
Celtique Energie Petroleum Ltd each have a 25% interest in the Licence.

The planned well will be drilled as a straight hole to a total depth of
approximately 2,500 metres. Europa anticipates drilling operations will take 36
days. The Kiln Lane prospect is a robust structural closure defined on 3-D
seismic data and the well has been designed to intersect a number of
prospective Upper Carboniferous age sandstone reservoirs in a structurally
favourable position near the crest of the structure. Kiln Lane is located some
25 km east of both Europa's Crosby Warren field, which has been producing oil
for almost 28 years, and the recent Egdon-operated Wressle-1 oil discovery in
PEDL 180 in which Europa has a 33.3% interest. The prospect is a typical East
Midlands Petroleum Province oil play but in a comparatively underexplored part
of the basin.

In the event of exploration success Europa will suspend the well and return
with a dedicated test rig for production testing operations in a similar
fashion to the current testing operations at Wressle. Should production testing
prove successful Europa will follow up with an extended well test with the
intention of obtaining more detailed reservoir performance information to
enable fast track development. Success at Kiln Lane also has the potential to
substantially de-risk a number of other exploration leads in the licence area
for possible follow-up drilling. Kiln Lane is a conventional exploration well
targeting oil in Upper Carboniferous sandstone reservoirs. It is not a shale
gas well and therefore operations at the site will not involve high volume
unconventional hydraulic fracturing.

Europa's CEO, Hugh Mackay said, ""We are delighted to commence operations on
the Kiln Lane conventional oil prospect and we look forward to updating
shareholders with the results from this well towards the end of March. I wish
to thank our geoscience, operations and permitting teams all of whom have
delivered excellent performance and have brought the well to spud on schedule
against a tight timeframe. We are encouraged by the recent discovery of oil at
the neighbouring Wressle well and we hope that Kiln Lane will be similarly
successful and provide another opportunity to build on our existing oil
production and revenues from conventional oil fields in the East Midlands
Petroleum Province."

                                 * * 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                     [phone] 
                                                                         
Simon Hicks         finnCap Ltd                     [phone] 
                                                                         
Frank Buhagiar      St Brides Partners Ltd          [phone] 
                                                                         
Lottie Brocklehurst St Brides Partners Ltd          [phone] 

Notes

Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage
hydrocarbon assets that includes production, exploration and development
interests, in countries that are politically stable, have transparent licensing
processes, and offer attractive terms. The Company produced 165 boepd in the UK
during the 2013/2014 financial year, generating sufficient revenues to cover
corporate overheads and some exploration expenditure. Its highly prospective
exploration projects include the Wressle (recently drilled and undergoing
testing) and Kiln Lane prospects in the UK; 100% owned gas exploration prospect
(107 bcf) and appraisal project (CPR 277 bcf) in onshore Franc a joint venture
with Vermillion Energy also in onshore France; and a joint venture with leading
independent Kosmos to explore two licences in offshore Ireland with the
potential to host gross mean unrisked prospective resources of 1.5 billion
barrels.

Qualified Person Review

This release has been reviewed by Hugh Mackay, Chief Executive of Europa, who
is a petroleum geologist with 30 years' experience in petroleum exploration and
a member of the Petroleum Exploration Society of Great Britain, American
Association of Petroleum Geologists and Fellow of the Geological Society. Mr
Mackay has consented to the inclusion of the technical information in this
release in the form and context in which it appears.