Aurelian Encouraged by Romanian Well's Preliminary Results

Aurelian announced that Voitinel-1 has tested gas from the interval between 1,653.3 meters and 1,672.5 meters measured depth. The test was designed to collect the data required to characterize the reservoir in order to assess appraisal and development options. The well flowed at an initial rate of 85,000 cubic meters of dry gas per day (3.0 mscf/day) at a tubing head pressure at of 40 bar (595psi). The well is currently being further tested at a series of different flow rates and pressures.

The preliminary results are encouraging. Voitinel-1 has tested 17.6 meters of pay at satisfactory rates in a structure with 14 square kilometers of closure. It would be speculative to assign resources at this stage but it is expected that the scale of the discovery will be assessed and announced once the pressure and flow test analysis has been completed over the next three weeks.

Interests in the Voitinel well are Aurelian Oil & Gas (Romania) SRL 33.75%, S.N.G.N. Romgaz S.A. 37.50% and Europa Oil & Gas srl 28.75%.

Rowen Bainbridge, CEO of Aurelian, commented, "As we reported in September the deeper prospects in Voitinel were unfortunatley dry but logs of two shallower sands looked interesting and so we proceeded to assess their potential further. One zone is now under test and we are encouraged by these early results. We will continue to test this zone over the next three weeks and will provide a further update in due course."

Paul Barrett, Managing Director of Europa said, "While Europa's recent history of gas tests in Sarmatian sands have been disappointing, Voitinel seems more promising as significant structural closure can be demonstrated. Early test results have exceeded expectations."