Operational Update

Operational Update

First Phase of 2008 Work Programme completed in East Midlands Oilfields

The Directors of Europa Oil & Gas (Holdings) plc are pleased to announce that
the first phase of a programme of work aimed at increasing the Company's oil
production volumes in the East Midlands, has been successfully completed.

A total of 8 metres of new perforations above the existing oil-producing zone
were added in Crosby Warren-2Y. Similarly, at West Firsby, the no.6 well has
received 10 metres of new perforations above the current production zones. Both
wells are now back on pump.

There has been a production increase, but it will take time to bring the wells
to stable production regimes and a further announcement will be made when this
has been achieved. The next phase of this programme includes re-entering the
currently shut-in well, West Firsby-4, for re-completion as a producer.

Paul Barrett, Managing Director of Europa, said `This work represents the first
stage of maximizing oil production from these fields, a natural high priority
for the Company in this high oil price regime. The programme will run for a
further few months. The results of the earlier elements of the programme will
be used when planning the major investment - the drilling of a new production
well at West Firsby.'

For further information, please contact;

Paul Barrett Europa Oil & Gas (Holdings) plc 01235 553 266
Jonathan Wright Seymour Pierce 0207 107 8050

www.europaoil.com