Romania Drilling Report

Europa Oil & Gas (Holdings) plc                        

                   Romanian 2007 Drilling Campaign Underway                    

The Directors of Europa Oil & Gas (Holdings) plc, the production and
exploration company, are pleased to announce the spudding yesterday of the
Radauti East-1 exploration well in the EIII-1 Brodina Concession in northern
Romania.

This well, which is operated by Aurelian Oil & Gas, is anticipated to take 10
days to reach the main target horizon. The well location has been chosen to
allow the testing of two additional secondary target horizons. All of these
target horizons are of Sarmatian age, similar to the Bilca Field reservoir.

On completion of Radauti East-1, which has a planned total depth of 935 metres,
the rig will move to drill Arbore-1, in the south of the EIII-1 Concession.

Paul Barrett, Managing Director, said "It is very satisfying to be drilling
again after a break of over a year spent acquiring seismic and geological data
and we are now embarking on an aggressive 5 well drilling programme in Romania
for 2007."

About Europa Oil & Gas (Holdings) plc

Europa Oil & Gas (Holdings) plc focuses on the production and exploration of
hydrocarbons in Europe and North Africa. Europa currently produces 600 barrels
of oil equivalent per day from its operations in the UK, Romania and the
Ukraine. Operating a balanced portfolio, 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]