Europa Obtains Credit Facility for Upcoming Projects

The Royal Bank of Scotland (RBS) has provided Europa Oil & Gas (Holdings) plc with a credit facility of up to £2 million for project work in the coming 12 months.

Paul Barrett, Managing Director of Europa, said: "We are delighted with the support of RBS in providing this facility, which will be utilized on our planned activity this year, predominantly on our UK onshore assets."

Steve Mills, Senior Director, Oil & Gas at RBS, said: "We are pleased that Europa has reached a level of maturity in its production portfolio to enable the bank to provide this facility and we wish Europa every success in its 2007 capital program. We believe granting this facility demonstrates RBS's commitment to smaller E&P ventures in a sector dominated by much larger transactions."

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.