First Day of Dealings on AIM

Europa Oil & Gas (Holdings) PLC
11 November 2004



                        EUROPA OIL & GAS (HOLDINGS) PLC



                          FIRST DAY OF DEALINGS ON AIM



                                                                11 November 2004



Europa Oil & Gas (Holdings) plc ('Europa' or the 'Group'), an established
UK-based independent oil & gas exploration and production group with a portfolio
of assets in the UK and continental Europe, today announces the commencement of
dealings in its Ordinary Shares and Warrants on the Alternative Investment
Market ('AIM') of the London Stock Exchange.



Westhouse Securities LLP is Nominated Adviser and Broker to Europa.



Europa shares are listed on AIM under the symbol EOG and warrants under the
symbol EOGW.



The AIM Admission Document is available from Westhouse Securities LLP, Clements
House, 14-18 Gresham Street, London EC2V 7NN.



Use of Proceeds of the Placing



The proceeds of the Placing will principally be used to fund the next phase of
the development of Europa's existing projects and to provide finance for
securing additional projects.





Paul Barrett, Managing Director of Europa, said:



'Today marks a new phase in the development of Europa. With the support of our
new shareholders we can now press on with our plans to bring more assets into
production and accelerate drilling on our exploration prospects.  We expect to
drill three new wells in the next few months on our existing assets and will be
looking to secure further venture projects in due course.'





For further information, contact:

Westhouse Securities LLP (020 7601 6100)  Citigate Dewe Rogerson (020 7638 9571)
Bill Staple / Tim Feather                 Martin Jackson / Alexandra Scrimgeour





See also see www.europaoil.com


Notes to Editors



Placing Statistics


Placing Price per New Ordinary Share                                                 25 pence
Number of New Ordinary Shares placed                                                 20,000,000
Total Proceeds from the Placing (before expenses)                                    £5 million
Number of Ordinary Shares in issue immediately following Admission                   60,000,000
Number of Warrants in issue immediately following Admission                          10,000,000
Market Capitalisation following the Placing at the Placing Price                     £15 million



Production



Three projects are currently in production and a further two are awaiting
development.  The current attributable production of around 330 boepd is
forecast by independent consultants, Scott Pickford, to rise to up to 6,000
boepd by 2007.



Reserves



Scott Pickford has undertaken a review of the oil and gas properties of Europa
and concluded that the Group holds 2P reserves and contingent resources of 7
million barrels of oil equivalent ('mmboe') and estimated additional unrisked
prospective resources of 28 mmboe.


                                         Summary of Principal Assets
                  Country       Block / Field                            Operator            Interest
Producing         UK            West Firsby Oilfield                     Europa              100%
                  UK            Whisby-4, Whisby Oilfield                Blackland Park      75%
                  Ukraine       Horodok Field                            Europa              70%

Development       UK            41/24 & 41/25                            Europa              100%
                  UK            Whisby Area (pending)                    Europa              100%
                  Romania       Brodina EIII-1 (Bilca Discovery)         Falcon              28.75%

Exploration       UK            TQ14 Holmwood (pending)                  Europa              40%
                  UK            Whisby Area Exploration (pending)        Europa              100%
                  Romania       EPI-8 Valeni de Munte                    Tullow Oil          15%
                  Romania       Epi-3 Costisa Prospect                   Tullow Oil          15%
                  Romania       EIII-3 Cuejdui                           Falcon              28.75%
                  Romania       EIII-4 Bacau                             Falcon              47.5%
                  Poland        Nowy Sacz Area                           Medusa              2.5% ORRI



Strategy



Europa has embarked on a strategy to build the Group into a significant
European-focused independent upstream oil and gas business.  The strategy will
be to continue to grow a balanced exploration and production portfolio with
producing assets generating cashflow, development projects providing low risk
potential and exploration opportunities offering significant upside.



Also see www.europaoil.com




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