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

    27 June 2016

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

                     Extension of Licence PEDL 143, the Weald Basin                

    Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration,
    development and production company focused on Europe, is pleased to announce it
    has received notification from the Oil & Gas Authority that the PEDL 143
    Licence in the Weald Basin, Surrey, UK, has been extended by two years until 1
    October 2018.  This will enable Europa to drill the conventional Holmwood
    prospect ('Holmwood'), which has estimated gross mean unrisked prospective
    resources of 5.6 million barrels of oil ('mmbo') in Portlandian and Corallian
    sandstones and a P90 - P10 range of resources of 1 to 11mmbo, in late 2016 / H1
    2017, subject to funding.

    PEDL143 is located in an area of the Weald Basin where 30 million barrels have
    been produced to date from 14 oil and gas fields.  The Holmwood prospect is
    located 5km to the south of the Brockham oil field, which was discovered by BP
    in 1987 and today produces oil from Portlandian sandstone reservoirs.  Holmwood
    is also 12km to the west of the Horse Hill-1 well in PEDL137 where UK Oil & Gas
    Investments PLC ('UKOG') has reported production at a combined average stable
    rate of over 1,688 bopd from Upper and Lower Kimmeridge Limestone reservoirs
    and Upper Portland sandstone reservoir during flow tests.

    Planning permission is in place for a deviated exploration well to be drilled
    at Holmwood which will penetrate similar stratigraphy to Horse Hill, targeting
    oil in Upper and Lower Kimmeridge Limestones in addition to Corallian and
    Portlandian sandstones.  The 5.6mmbo gross mean unrisked prospective resources
    at Holmwood do not include any estimate for the Jurassic limestones which have
    been found to be producing in Horse Hill.  Subject to approval from the Oil &
    Gas Authority for the farm out to Union Jack Oil ('UJO') (see announcement of
    23 May 2016 for further details), Europa will have a 32.5% interest in, and
    operatorship of, PEDL143 alongside Egdon Resources (18.4%), Altwood Petroleum
    (1.6%), Warwick Energy (10%), UKOG (30%), and UJO (7.5%).

    Europa CEO Hugh Mackay said, "The licence extension was necessary to drill the
    5.6mmbo Holmwood prospect in late 2016 / H1 2017.  We are looking forward to
    drilling this conventional prospect which we rate as having a one in three
    chance of success, as we focus on further growing our UK onshore production,
    which is on track to more than double to in excess of 250 bopd in H2 2016 when
    the Wressle discovery comes on stream."

                                     * * ENDS * *                                  

    For further information please visit http://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                
                                                                        
    Susie Geliher     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.  In 2015 Europa produced 141 boepd.  Its
    highly prospective exploration projects include the Wressle development
    (targeting production start-up later in 2016 at up to 500 bopd gross) in the
    UK; 100% owned gas exploration prospect (107 bcf) and appraisal project (CPR
    277 bcf) in onshore France, a joint venture with Vermilion Energy also in
    onshore France; and seven licences offshore Ireland with the potential to host
    gross mean un-risked resources of more than 4 billion barrels oil and 1.5 tcf
    gas across all seven licences.