Romanian Operations Timing

Europa Oil & Gas (Holdings) plc

Update on Romanian Operational Timings

The Directors of Europa Oil & Gas (Holdings) plc (Europa) are pleased to
provide an update on planned operations in Romania for the coming 6 months.

Europa has received both drilling approval and an extension to the licence from
the Romanian authorities in order to undertake the deepening of the Barchiz-1
exploration well, situated in the EPI-3 Brates Concession (Europa 100%). The
deepening of the well is planned to test the exploration target thought to lie
beneath the current 1,450m depth of the well.

Aurelian Oil & Gas, the Operator of the Brodina Concession (Europa 28.75%) in
northern Romania, has advised partners that the Voitinel gas discovery
appraisal well is due to spud on or around 1st October 2011. Subject to the
results of this well, a further well is anticipated to be drilled to test the
upside to the play in early 2012.

The 2011 seismic programme in Romania is underway, with the EIII-3 Cuejdiu area
(Europa 17.5%) acquisition over 70% complete. The EIII-1 Brodina programme will
follow on from this survey. Both of these seismic programmes are concentrating
on the underexplored thrustbelt oil play.

Paul Barrett, Managing Director, said `these Romanian projects are coming
together to create a significant amount of activity for the remainder of 2011
and we hope to exit the year with greater reserves and contingent resources.'

For more information, contact:

Europa

Paul Barrett [phone]

Phil Greenhalgh [phone]

finnCap [phone]

Sarah Wharry / Henrik Persson, Corporate Finance

Joanna Weaving, Corporate Broking