Romania - Seismic Update

    For immediate release: 31 May 2006

                        Europa Oil & Gas (Holdings) plc                        

                            Romania Seismic Update                             

The Directors of Europa Oil & Gas (Holdings) plc, the production and
exploration company, are pleased to announce the completion of the planned 300
km seismic acquisition programme on Brodina, Cuejdui and Bacau Blocks in
Romania. The partnership acquired 200 km of new seismic on the Brodina Block,
which contains the Bilca Gas Development, and 50 km of new seismic on each of
the Cuejdui and Bacau Blocks.

Preliminary results have highlighted the appearance of a number of significant
new seismic anomalies in the eastern part of the Brodina Block. Several areas
are prone to high amplitudes in the Sarmatian sequences similar to, but
potentially larger than, those which led to the group's successes in the Bilca
area. Consequently, the partnership has approved the acquisition of 62 km of
new infill seismic over these areas in order to select a drilling location.
This infill seismic will be acquired as soon as possible this summer.

In addition, the group will look to acquire up to 40km of new seismic data over
the Voitinel area, a large structural lead in the central part of the Brodina
block.

Preliminary results over the Cuejdui and Bacau Blocks are also very encouraging
with the all of the initial leads confirmed and in some cases larger than on
the previous interpretation.

Work will commence on the seismic interpretation over all three blocks when the
final processed data are received in the next month or so. It is believed that
the seismic interpretation mapping will lead to several drilling locations for
the 2007 drilling programme.

Paul Barrett, Managing Director, said, "We are delighted the infill survey to
the south of the Bilca Development has identified further areas of significant
potential in the Sarmatian gas play. So much so, that in order to properly plan
a 2007 drilling campaign, additional data will be acquired this summer. We look
forward to a fruitful drilling campaign on these licences in the next 12
months".

Note for Editors:

Europa has a 28.75% working interest in the Brodina and Cuejdui Blocks,
situated in the northern part of the prolific East Carpathian oil and gas
province. The Brodina Block contains the Bilca and Fratauti Fields, a gas
development resulting from discoveries made by the group and due onstream in
summer 2006. In the third block, Bacau, Europa holds a 47.5% interest. All
three blocks are operated by Aurelian Oil & Gas.

About Europa Oil & Gas (Holdings) plc

Europa Oil & Gas (Holdings) plc - AIM: EOG - focuses on the production and
exploration of hydrocarbons in Europe and North Africa. It currently produces
210 barrels of oil per day from UK onshore fields and 25 barrels of oil
equivalent from the Ukraine. Production is expected to rise significantly after
its Romanian Bilca Gas Project comes onstream later this year. Operating a
balanced portfolio, Europa currently has field appraisal activity on projects
in the UK Southern Gas Basin and onshore Romania and exploration activity on a
further eight licences across the Europe - North Africa region. For more
information please visit www.europaoil.com.

Further information:

Paul Barrett, Managing Director, Europa Oil & Gas (Holdings) plc +33 5 63 33 18
97

Jonathan Wright / Parimal Kumar, Seymour Pierce Limited +44 20 7107 8000

Jade Mamarbachi / Toby Hall, gth media relations +44 20 7153 8035



END

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