(EOG.L) Europa Oil & Gas (Holdings) PLC Buy/Sell

LONDON, Nov 17 (Reuters) - Aurelian Oil and Gas Plc:

Europa Oil & Gas (Holdings) plc

Voitinel Gas Discovery Update

The Directors of Europa Oil & Gas (Holdings) plc are pleased to announce the results of the drillstem test evaluation for Voitinel-1, the full details of which can be found in the Aurelian's RNS of today.

The assessment of the test results is that there is a likely range of gas in place in the tested interval of between 50 and 100 billion cubic feet. There is untested upside in further intervals interpreted as similarly gas-bearing which will be tested in due course.

The partnership will agree a forward appraisal plan for the discovery in the near future.

Paul Barrett, Managing Director of Europa, said `This is clearly excellent news. The key to the analysis is that no depletion was seen in the tests, lending confidence to the view that this represents a significant gas discovery with further untested upside.'

For further information, please contact: Europa Oil & Gas Paul Barrett 01235 553266 Seymour Pierce Jonathan Wright 020 7107 8000

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Europa Oil & Gas (Holdings) plc

HYKEHAM-1 DRILLING

The Directors of Europa Oil & Gas (Holdings) plc are pleased to announce that drilling the main section of the Hykeham-1 exploration well, situated on the PEDL150 licence near Lincoln, has commenced. The BDF28 rig was mobilized to the site on the 9th November and the well is testing the potential for up to 20 million barrels of oil in place in two target horizons. The anticipated final TD of just over 1,000m is expected to be reached by early December.

Hykeham is a low risk prospect situated in the main producing fairway of the East Midlands Petroleum Province. It is one of several leads and prospects identified on the PEDL150 licence each with similar risk/reward profiles. Across the East Midlands Petroleum Province, Europa has a significant high quality exploration holding of over 100,000 net acres containing 12 identified leads and prospects with gross unrisked potential for over 350 million barrels of oil in place.

Success at Hykeham will significantly increase Europa's oil production levels and more than double group 2P reserves. The East Midlands remains relatively underexplored, with a low exploration drilling density despite the cumulative production of 75 million barrels of oil to date. This makes it an attractive area to explore for further oil, with crude sold locally at close to Brent prices, developments coming quickly into production and a corporation tax burden of only 60% of that on existing UK production.

Paul Barrett, Managing Director of Europa, said `We regard the East Midlands as a key core area for Europa due to a combination of technical and commercial positives. Success at Hykeham will create a step change for the Company and be a driver for both further potential reserves growth and stronger profits in 2010'.

For further information, please contact:

Paul Barrett Europa Oil & Gas +44 1235 553 266

Jonathan Wright Seymour Pierce +44 20 7107 8000

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NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL

RESPONSIBILITY OR CONNECTED PERSONS

1. Name of the issuer 2. State whether the notification
relates to (i) a transaction
notified in accordance with DTR
3.1.2 R;

(ii) a disclosure made in
accordance with LR 9.8.6 R(1), or;

(iii) a disclosure made in
accordance with section 793 of the
Companies act (2006)

EUROPA OIL & GAS (HOLDINGS) PLC (i)

3. Name of person discharging 4. State whether notification relates
managerial responsibilities/ to a person connected with a person
director discharging managerial
responsibilities/director named in
3 and identify the connected person

ERIKA SYBA

5. Indicate whether the notification 6. Description of shares (including
is in respect of a holding of the class), debentures or derivatives
person referred to in 3 or 4 or financial instruments relating
above or in respect of a to shares

non-beneficial interest

3 ORDINARY SHARES

7. Name of registered shareholders 8 State the nature of the transaction

(s) and, if more than one, the

number of shares held by each of

them

ERIKA SYBA PURCHASE OF SHARES

9. Number of shares, debentures or 10. Percentage of issued class acquired
financial instruments relating to (treasury shares of that class
shares acquired should not be taken into account
when calculating percentage)

100,000 0.13%

11. Number of shares, debentures or 12. Percentage of issued class disposed
financial instruments relating to (treasury shares of that class
shares disposed should not be taken into account
when calculating percentage)

nil nil

13. Price per share or value of 14. Date and place of transaction

transaction

13 pence 9 November 2009

15. Total holding following 16. Date issuer informed of transaction

notification and total percentage

holding following notification

(any treasury shares should not

be taken into account when

calculating percentage)

23.03% (Combined holding with 9 November 2009

spouse)

Name of contact and telephone number for queries

PHILIP GREENHALGH

01235 467362

Name and signature of duly authorised officer of issuer responsible for making notification

PHILIP GREENHALGH

__________________________________________________________ Date of notification 10 November 2009

END