Europa Oil & Gas (Holdings) plc provides a brief update on several of the Company's key projects:

• Progress has been made in quantifying the reserves potential in Voitinel (Romania); • Initial mapping of the Berenx structure (France) confirms its potential for gas reserves in excess of 1TCF; • The well workover programme is complete on the UK producing assets and subsurface work on the West Firsby Field has identified potential for a significant increase in reserves.

Romania The Voitinel discovery in Romania is likely to benefit from an appraisal well in early 2011. Current estimates of gas-in-place range from 250 to 410bcf across the 'Greater Voitinel' area, equating to up to 250 bcf recoverable (70 bcf net). The Paltinu-103 well on the edge of Solca drilled by Romgaz produced gas on extended test at rates of 5 mmscfpd. This provides confidence that both gas and reservoir sands are developed in the undrilled Solca part of the 'Greater Voitinel' play.

The Barchiz exploration well, targeting a structure immediately to the north of the prolific thrust belt oil play trend, is anticipated to spud in Q4 2010. Barchiz is the Company's first thrust belt oil play well which remains poorly explored despite having yielded over 5 billion barrels along trend. The Barchiz structure has the reserves potential for up to 30 mmbo gross (6 mmbo net) and is one of several similar structures identified in the Brates block.

The 2010 seismic programme is nearing completion, having acquired new data over the thrust belt oil play as well as infill data to better define well locations for Voitinel-Solca appraisal and development.

France The focus of attention is the Berenx structure, where gas was proven in 1969 but was not tested. An initial analysis of the recently available 3D seismic survey over Berenx supports the conclusion that the original wells drilled the western edge of a structure with potential for in excess of 1TCF of recoverable reserves. The combination of proven gas and substantial reserves potential close to existing infrastructure at the Lacq Field makes for a compelling investment proposition and drilling success would have a transformational impact on the Company. Detailed mapping is now being undertaken and the Company will subsequently seek partners to drill Berenx-3.

Tags: Europa Oil & Gas (Holdings) plc