Completion of Seismic

Europa Oil & Gas (Holdings) plc                        

                        Completion of Seismic Programme                        

The Directors of Europa Oil & Gas (Holdings) plc, the AIM-listed production and
exploration company, are pleased to announce the completion of its 2D seismic
acquisition programme on the PEDL150 licence, near Lincoln. The 50km survey was
designed to mature several currently identified leads to drillable prospect
status.

The survey area surrounds the Whisby Field, where Europa drilled a farm-in well
in 2003. This well has since produced over 200,000 barrels of oil and continues
to be an excellent performer with remaining potential for many years of future
revenue generation.

By funding the acquisition of this survey, Valhalla Oil & Gas plc earn a 25%
interest in PEDL150 and hold an option to earn an additional 25% by funding a
further 50% of an exploration well.

Paul Barrett, Managing Director of Europa said, "This survey covers a number of
leads and we are confident that at least one of these will develop into a
near-term drilling candidate."

About Europa Oil & Gas (Holdings) plc

Europa Oil & Gas (Holdings) plc focuses on the production and exploration of
hydrocarbons in Europe and North Africa. Europa currently produces 600 barrels
of oil equivalent per day from its operations in the UK, Romania and the
Ukraine. Operating a balanced portfolio, 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.

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]