Europa: Romanian Campaign Underway

Europa Oil & Gas (Holdings) plc said that the Radauti East-1 exploration well, located in the EIII-1 Brodina Concession in northern Romania, spudded Tuesday.

Operated by Aurelian Oil & Gas, the well is anticipated to take 10 days to reach the main target horizon. The well location has been chosen to allow the testing of two additional secondary target horizons. All of these target horizons are of Sarmatian age, similar to the Bilca Field reservoir.

On completion of Radauti East-1, which has a planned total depth of 935 meters, the rig will move to drill Arbore-1, in the south of the EIII-1 Concession.

Paul Barrett, Managing Director, said: "It is very satisfying to be drilling again after a break of over a year spent acquiring seismic and geological data and we are now embarking on an aggressive five-well drilling program in Romania for 2007."

Europa Oil & Gas (Holdings) plc focuses on the production and exploration of hydrocarbons in Europe and North Africa. Europa currently produces 600 barrels of oil equivalent per day from its operations in the UK, Romania and the Ukraine. Operating a balanced portfolio, Europa also has field appraisal and exploration activity on a number of projects in the UK and Romania and a strong new ventures program across Europe and the North African region.