(Jersey City, NJ – July 18, 2011) Yorkville Advisors, LLC (Yorkville), the US-based alternative investment manager, is pleased to announce it has entered into a £5 million Standby Equity Distribution Agreement (SEDA) and a $1.6 million promissory note agreement on behalf of YA Global Master SPV Ltd. (YA Global) with active oil and gas explorer, Europa Oil & Gas. In addition, Yorkville has provided a £200,000 equity investment to the company.

Europa Oil & Gas engaged the SEDA to continue its operation in exploration, production and appraisal of assets across the UK, France and Romania. The company is an integral part of discovering conventional and unconventional hydrocarbons and now has the ability to further finance their drilling program.

Pioneered 10 years ago by Yorkville, a SEDA offers companies a low risk, cost effective way of optimizing their capital structure in pursuit of their growth strategy. Pursuant to the terms of the SEDA, Europa has the discretion to withdraw funds of up to £5 million in tranches in exchange for the issue of new equity for a period of 36 months of the transaction documents. Under the terms of the promissory note, Europa Oil & Gas has agreed to borrow up to $1.6 million from YA Global.

At its sole discretion, Europa Oil & Gas can notify YA Global that it requires it to buy shares at 95% of the lowest daily volume weighted average share price based off of the LSE-AIM (EOG) pricing during the 10 trading days following such notification.

Paul Barrett, Managing Director of Europa Oil & Gas stated: “Access to additional capital will allow us to mature our exploration projects, including the appraisal of key contingent resources and the testing of prospective resources in Romania. Yorkville has been a strategic part of our expansion and provides welcome flexibility in the funding required to add value to our assets.”

Brian Kinane, Managing Director at Yorkville Advisors, said “Yorkville is pleased to be a key part of the broader financing of Europa, which is intended to support its exploration program.”

About Yorkville Advisors

Yorkville Advisors LP is a US-based alternative investment manager.

Founded in January 2001 by Mark Angelo, Yorkville specializes in providing flexible, innovative debt and equity investments and financing in publicly listed companies in a variety of sectors including energy, mining, technology media & telecommunication (TMT), healthcare and shipping.

Yorkville tailors its financings according to each company’s need and offers a mix of debt structures, bridge financings, asset backed notes, equity facilities and, in some cases, equity injections.

Yorkville has offices in Jersey City, New Jersey; Palm Beach Gardens, Florida; Denver, Colorado; London and Hong Kong as well as a joint venture agreement in Milan, Italy.

www.yorkvilleadvisors.com

About Europa:

Europa Oil & Gas is an active oil and gas explorer throughout the European region. It holds core producing oil assets in the UK, along with a wide range of exploration and appraisal projects in various stages of development in the UK, Romania, France and Western Sahara. The Company currently produces oil from three UK onshore oilfields, with ongoing appraisal work in Romania. The Company also holds a key gas appraisal asset in southwest France. Exploration for both conventional and unconventional hydrocarbons is an integral part of the portfolio and the Company continues to pursue this upside potential in all areas.

www.yorkvilleadvisors.com

Important Disclosures:

The information contained herein is for informational purposes only and is not intended to be, nor shall it be, construed as legal, tax or investment advice or as an offer, or the solicitation of any offer, to buy or sell any securities. Before making an investment in any security, you should thoroughly review with your legal, tax and investment advisors to determine whether an investment is suitable for you in light of your investment objectives and financial situation.