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

    11 January 2017

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

                            Update on Wressle Oil Discovery                        

    Europa Oil & Gas (Holdings) plc, the UK and Ireland focussed exploration,
    development and production company, notes today's update from Egdon Resources
    ('Egdon') regarding the refusal of planning consent by North Lincolnshire
    County Council's Planning Committee for the development of the Wressle Oil
    Field ('Wressle') at Lodge Farm, Wressle, North Lincolnshire. 

    At the same meeting the application for the installation of groundwater
    monitoring boreholes was approved.

    Europa has a 30%* working interest in Wressle which is located on PEDLs 180 and
    182 ('the Licences'), alongside Egdon (operator, 25%), Celtique Energie
    Petroleum Ltd (33.3%), and Union Jack Oil (11.67%). 

    The decision of the Committee goes against the positive recommendation of the
    County Council's Planning Officer which was determined after an extensive and
    thorough review of the field development plan. The partners in Wressle will now
    consider their options which include the right to appeal.  

    Europa's CEO, Hugh Mackay, said "We are disappointed with the Planning
    Committee's decision.  Lying just 5km away from the Europa-operated Crosby
    Warren field, Wressle is located in the heart of the East Midlands petroleum
    province, a region with a long heritage of conventional oil and gas
    production.  Furthermore, at an anticipated gross rate of 500 bopd, Wressle has
    the potential to generate meaningful revenues not just for the participating
    companies, but also for the government in the form of tax receipts.  With this
    in mind, we will be exploring with our partners all options on how best to take
    these licences forward and further updates will be provided in due course. 

    "In tandem with this, work continues across our portfolio of licences,
    particularly in Atlantic Ireland where Europa holds one of the largest and most
    comprehensive licence positions which covers an area of 5,818 sq km and
    includes six play types, three basins and 20 prospects and leads.  Here we are
    focused on increasing our drill ready prospect inventory from two to six and
    securing farm-out partners with whom we can prove these up via the drill bit.
    Farm-out discussions are continuing. Together with planned drilling activity at
    the 5.6 mmbo Holmwood prospect in the Weald Basin, 2017 promises to be an
    exciting year for Europa and I look forward to keeping the market updated on
    developments."

    *On 24 November 2016, Europa announced it had signed a Sale and Purchase
    Agreement ('SPA') with Upland Resources (UK Onshore) Limited ('Upland') in
    relation to a 10% interest in PEDLs 180 and 182.  Completion of the SPA, which
    is subject to approval from the Oil & Gas Authority and the granting of
    planning consent, would result in Europa retaining a 20% interest in the
    Licences.

                                     * * 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                
                                                                        
    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 2016 Europa produced 123 boepd.  Its
    highly prospective exploration projects include the Wressle development in the
    UK and seven licences offshore Ireland with the potential to host gross mean
    un-risked prospective and indicative resources of more than 4 billion barrels
    oil equivalent and 1.5 tcf gas across all seven licences.

    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.