New Exploration Acreage

    For immediate release: 14 September 2006

                        Europa Oil & Gas (Holdings) plc                        

                       New Exploration Acreage - France                        

The Directors of Europa Oil & Gas (Holdings) plc, the production and
exploration company, are pleased to announce that its application for an
exploration permit in the Aquitaine Basin of southwest France, the B�arn des
Gaves permit, has now passed the 90 day period allowed for competitive bids.
The exclusive award of the exploration licence to Europa is now subject to
government approval and is expected early in 2007.

The application, which covers an area of 928 km2, lies immediately west of the
Lacq and Meillon Gasfields, the discoveries that made Elf Aquitaine over 50
years ago, which contain combined estimated initial recoverable gas reserves of
12 trillion cubic feet. Europa plans to investigate the western continuation of
the Lacq play, evidence for this coming from a gas discovery in the permit area
at Berenx. In addition, there is potential for oil accumulations in the
northern part of the permit area.

The vast majority of wells drilled in the area were drilled in the 1950's and
1960's and were based on now obsolete exploration concepts. Modern exploration
methods will greatly improve the chances of finding significant hydrocarbon
reserves in an area close to markets and with a well-developed infrastructure.

Paul Barrett, Managing Director, said "With this award, we will have the
potential for substantial gas reserves in an area of onshore western Europe.
Proximity to existing processing and export infrastructure would allow a short
lag time between discovery and cashflow. We are looking forward to working this
acreage with great anticipation".

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 will rise significantly after its
Romanian Bilca Gas Project comes onstream in September 2006. 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

Review by Qualified Person

The technical information and opinions contained in this announcement have been
reviewed by Paul Barrett B.Sc. (Hons), M.Sc., Managing Director of Europa Oil &
Gas (Holdings) plc, who is a geologist with 25 years mainstream oil and gas
experience.

Bourrouilh, R. et al , 1995, AAPG Bulletin v.79. p.831-853

Europa Oil & Gas (holdin... (LSE:EOG)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024