Production Sharing Agreement

Europa Oil & Gas (Holdings) plc                        

                          (`the Company' or `Europa')                          

                         Production Sharing Agreement                          

The Directors of Europa Oil & Gas (Holdings) plc, the production and
exploration company, are pleased to announce that the Production Sharing
Agreement covering the West Darag Onshore Concession in Egypt was signed at a
ceremony in Cairo yesterday.

The work programme for the West Darag Concession will involve reprocessing
existing seismic data along with geological and geophysical field
investigations during the first two year phase. An optional second phase of the
Concession will require 500km of 2D seismic acquisition and one well to be
drilled in the three year period. Finally, a third period of a further three
years, if exercised, will require a similar amount of seismic acquisition and
two additional wells to be drilled.

Europa (60% and Operator) will undertake this work in partnership with Solaris
Energy plc (40%), subject to approval by the Egyptian authorities of the
assignment to Solaris.

Paul Barrett, Managing Director of Europa, said "We are extremely pleased to be
commencing our exploration activities in Egypt, a country which continues to
deliver excellent exploration results. We are aiming to start fieldwork towards
the end of this year."

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]