REG-Europa Oil & Gas (Holdings) PLC: Hykeham Well Update

Europa Oil & Gas (Holdings) plc

RNS

06-04-10

Hykeham-1 Well Update

The Directors of Europa Oil & Gas (Holdings) plc wish to provide an update on
operations at the Hykeham-1 well. The well has been re-perforated and a pump
installed to lift the well. To date, the well has produced only small volumes
of liquid and some gas. This result is completely incompatible with both the
wireline log and geological data from the well.

The well will be shut-in until the analysis is complete and a decision is made
on the forward programme. If this analysis concludes that remedial action is
not appropriate, the well will be abandoned.

Paul Barrett, Managing Director, said `I have experience of many wells over
several decades and never seen such a mismatch between the test data and the
geological data for the reservoir. We believe that this reservoir is
oil-bearing and will flow given the right completion conditions and will be
working to achieve this over the coming months.'

The technical opinions in this announcement have been reviewed and approved by
Dr. Erika Syba and Paul Barrett, both experienced geologists with over 50 years
combined oil and gas experience.

Europa is Operator and holds a 75% working interest in the PEDL150 licence,
containing the Hykeham well.

For further information, please contact:

Paul Barrett Europa +44 7971 528 754
Jonathan Wright Seymour Pierce +44 20 7107 8050

END