Europa Oil & Gas Completes Romanian Seismic Program

Europa Oil & Gas has completed its planned 300 km seismic acquisition program on Brodina, Cuejdui and Bacau Blocks in Romania. The partnership acquired 200 km of new seismic on the Brodina Block, which contains the Bilca Gas Development, and 50 km of new seismic on each of the Cuejdui and Bacau Blocks.

Preliminary results have highlighted the appearance of a number of significant new seismic anomalies in the eastern part of the Brodina Block. Several areas are prone to high amplitudes in the Sarmatian sequences similar to, but potentially larger than, those which led to the group's successes in the Bilca area. Consequently, the partnership has approved the acquisition of 62 km of new infill seismic over these areas in order to select a drilling location. This infill seismic will be acquired as soon as possible this summer.

In addition, the group will look to acquire up to 40km of new seismic data over the Voitinel area, a large structural lead in the central part of the Brodina block.

Preliminary results over the Cuejdui and Bacau Blocks are also very encouraging with the all of the initial leads confirmed and in some cases larger than on the previous interpretation.

Work will commence on the seismic interpretation over all three blocks when the final processed data are received in the next month or so. It is believed that the seismic interpretation mapping will lead to several drilling locations for the 2007 drilling program.

Paul Barrett, Managing Director, said, 'We are delighted the infill survey to the south of the Bilca Development has identified further areas of significant potential in the Sarmatian gas play. So much so, that in order to properly plan a 2007 drilling campaign, additional data will be acquired this summer. We look forward to a fruitful drilling campaign on these licenses in the next 12 months'.

Europa has a 28.75% working interest in the Brodina and Cuejdui Blocks, situated in the northern part of the prolific East Carpathian oil and gas province. The Brodina Block contains the Bilca and Fratauti Fields, a gas development resulting from discoveries made by the group and due onstream in summer 2006. In the third block, Bacau, Europa holds a 47.5% interest. All three blocks are operated by Aurelian Oil & Gas.