Drilling Report

Europa Oil & Gas (Holdings) plc                        

                          (the `Company' or `Europa')                          

                             Crosby Warren-2Z Spud                             

The Directors of Europa Oil & Gas (Holdings) plc, the production and
exploration company, are pleased to announce that BDF Rig 28 has spudded the
CW-2Z well at the Crosby Warren Oilfield, North Lincolnshire (Europa 100%).

The drilling programme, anticipated to take 3-4 weeks, comprises sidetracking
the Crosby Warren-2 well to an up-dip target location in the Beacon Hills Flags
reservoir some 450m WSW of the surface location.

Crosby Warren-1 has produced oil at an average rate of 85 bopd since a workover
in mid-June, compared to 35 bopd at the time of acquisition. Europa has taken
delivery of a larger beam pump unit to increase volumes further on the well.

Paul Barrett, Managing Director, said "Commencement of drilling operations at
Crosby Warren is an important element of Europa's 2007 drilling campaign,
representing an opportunity for significant near-term production level
increases in addition to those increases already achieved on the field since
acquisition".

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.

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]