Licence Update

Licence Update

The Directors of Europa Oil & Gas (Holdings) plc, wish to announce that the
Company has elected not to enter into the second phase of the West Darag
exploration licence, Egypt. The Directors have collectively agreed to
concentrate the Company's resources on its key core area assets in the UK,
Romania and France, building on back-to-back drilling successes in two of these
areas.

For further information, please contact:

Paul Barrett Europa Oil & Gas [phone]

Jonathan Wright Seymour Pierce [phone]