Egypt License Award

For immediate release:

                        Europa Oil & Gas (Holdings) plc                        

                              Egypt Licence Award                              

The Board of Europa Oil & Gas (Holdings) plc - AIM: EOG - the hydrocarbon
production and exploration company, is very pleased to announce that Europa has
been offered the West Darag exploration concession by the Egyptian General
Petroleum Corporation (`EGPC') as a result of an application in the EGPC 2005
bidding round. The award is subject to government approvals and execution of a
Production Sharing Agreement (`PSA') with EGPC.

The concession covers a large under-explored onshore area in excess of 5,300
km2 (1.3 million acres or the equivalent of 25 UK North Sea blocks). It lies on
the northwestern margin of the Gulf of Suez and has a Mesozoic sequence similar
to that in the prolific Egyptian Western Desert oil province.

Saharan Africa, with resources of over 160 billion barrels equivalent, half of
this in Mesozoic basins, is becoming vital to the European oil and gas markets.
Egypt in particular had 36 oil and gas discoveries in 2005 alone and continues
to deliver exploration success in both new and established plays.

Paul Barrett, Managing Director, said, "This is a highly significant award for
Europa and part of our new venture programme across Saharan North Africa,
coming quickly on the heels of two very large licence awards in Western Sahara.

We look forward to exploring West Darag and will release a more detailed
technical review of the concession area once the PSA is signed."

About Europa Oil & Gas (Holdings) plc

Europa Oil & Gas (Holdings) plc - AIM: EOG - focuses on the production and
exploration of hydrocarbons in Europe and North Africa. It currently produces
210 barrels of oil per day from UK onshore fields and 25 barrels of oil
equivalent from the Ukraine. Production is expected to rise significantly after
its Romanian Bilca Gas Project comes onstream later this year. Operating a
balanced portfolio, Europa currently has field appraisal activity on projects
in the UK Southern Gas Basin and onshore Romania and exploration activity on a
further eight licences across the Europe - North Africa region. 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]


Source: Attree M. et al, 2006, Application of Regional Geological Analysis to
Mesozoic Rifts on the North African Continental Margin. Petroleum Systems of
Saharan Africa Conference, London.

Source: IHS Energy GEPS Report December 2005