EOG Europa Oil & Gas (holdings) Plc

 Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas

23 March 2015

          Europa Oil & Gas (Holdings) plc (`Europa' or `the Company')

                    Update on Kiln Lane-1 Well, onshore UK

Europa Oil & Gas (Holdings) plc, the AIM quoted oil and gas company with a
combination of producing and exploration assets in Europe, announces the
completion of drilling operations at the Kiln Lane-1 conventional exploration
well (`Kiln Lane' or `the Well') on Licence PEDL 181 in Northeast Lincolnshire.
The Well spudded on 23 February 2015 and reached a total depth (`TD') of 2,291
metres on 19 March. Sandstones in the Westphalian and Namurian intervals were
penetrated in line with the pre-drill geological model and significant oil and
gas shows were observed during drilling operations. However, wireline logging
and subsequent petrophysical analysis indicates that the sandstones encountered
are water wet. The Well will therefore be plugged and abandoned and the site
restored to agricultural use.

Europa is operator of and has a 50% working interest in PEDL 181, which covers
an area of over 540 km2 in the East Midlands Petroleum Province. Egdon
Resources and Celtique Energie Petroleum Ltd each have a 25% interest in the
Licence. Europa and its partners will conduct a detailed post-drill technical
review of all relevant well and seismic data to determine the way forward with
this large exploration licence.

Europa's CEO, Hugh Mackay said, "While we are disappointed with the outcome,
Kiln Lane was drilled on schedule, on budget and safely. This is testament to
the performance of both our own technical team and the engineering crew on the
ground. Kiln Lane was the first well to be drilled on this large licence where
multiple leads have been identified. The presence of hydrocarbon shows is
encouraging and the quality of data recovered will enable clear decision making
going forwards. Over the coming weeks and months more technical work will be
conducted on all the data and geological samples recovered from the well as we
refine our hydrocarbon system model and plan our next steps for the Licence.

"Thanks to having a portfolio of licences at various stages of development, we
will not be short of potentially high impact news flow in the weeks and months
ahead. Ongoing testing operations at the Wressle discovery in PEDL 180 where
hydrocarbons have been recovered from all three payzones tested to date are due
to be completed shortly. This will be followed by an extended well test later
this year. Perhaps most importantly, we have commissioned a Competent Persons
Report on our Irish licences in the South Porcupine Basin where gross mean
unrisked prospective resources of up to 1.5 billion barrels of oil have already
been identified by our partner Kosmos Energy. We expect to issue the CPR in H1
2015. With so much activity across our asset base, I look forward to providing
further updates on our progress in due course."

                                 * * ENDS * *

For further information please visit www.europaoil.com or contact:

Hugh Mackay         Europa                          + 44 (0) 20 7224 3770

Phil Greenhalgh     Europa                          + 44 (0) 20 7224 3770

Matt Goode          finnCap Ltd                     +44 (0) 20 7220 0500

Simon Hicks         finnCap Ltd                     +44 (0) 20 7220 0500

Frank Buhagiar      St Brides Partners Ltd          +44 (0) 20 7236 1177

Lottie Brocklehurst St Brides Partners Ltd          +44 (0) 20 7236 1177

Notes

Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage
hydrocarbon assets that includes production, exploration and development
interests, in countries that are politically stable, have transparent licensing
processes, and offer attractive terms. The Company produced 165 boepd in the UK
during the 2013/2014 financial year, generating sufficient revenues to cover
corporate overheads and some exploration expenditure. Its highly prospective
exploration projects include the Wressle discovery (recently drilled and
undergoing testing) in the UK; 100% owned gas exploration prospect (107 bcf)
and appraisal project (CPR 277 bcf) in onshore France a joint venture with
Vermillion Energy also in onshore France; and a joint venture with leading
independent Kosmos to explore two licences in offshore Ireland with the
potential to host gross mean unrisked prospective resources of 1.5 billion
barrels.

Qualified Person Review

This release has been reviewed by Hugh Mackay, Chief Executive of Europa, who
is a petroleum geologist with 30 years' experience in petroleum exploration and
a member of the Petroleum Exploration Society of Great Britain, American
Association of Petroleum Geologists and Fellow of the Geological Society. Mr
Mackay has consented to the inclusion of the technical information in this
release in the form and context in which it appears.