UK Oil & Gas PLC Acquisition of Further Interest in PEDL143 (8460A)

TIDMUKOG

RNS Number : 8460A

UK Oil & Gas PLC

03 June 2019

UK Oil & Gas PLC

("UKOG" or the "Company")

Completion of Acquisition of Further Interest in PEDL143 Exploration Licence

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that it has completed the previously announced acquisition of the interests of both Europa Oil & Gas Limited ("Europa") and Union Jack Oil plc ("Union Jack") in the highly prospective PEDL143 exploration licence. This acquisition of their respective interests of 20% and 7.5% interests means UKOG now holds a majority operated 67.5% interest in the Licence.

Transaction Summary

The total considerations of GBP300,000 and GBP112,500 to Europa and Union Jack, respectively, will be satisfied through the issue of an aggregate total of 35,683,391 new ordinary shares in UKOG ("Consideration Shares"), with 25,951,557 and 9,731,834 Consideration Shares issued to Europa and Union Jack respectively, as outlined in the announcement of 16 April 2019.

An application has been made for the Consideration Shares to be admitted to trading on AIM, which are anticipated to be available for trading on or around 7 June 2019 ("Admission").

Following Admission, the Company's enlarged issued share capital will comprise 6,083,289,907 ordinary shares. The Company holds no shares in treasury. The enlarged ordinary share capital figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

UKOG

Stephen Sanderson / Kiran Morzaria Tel: [phone]

WH Ireland (Nominated Adviser and Broker)

James Joyce / James Sinclair-Ford Tel: [phone]

Cenkos Securities PLC (Joint Broker)

Joe Nally / Neil McDonald Tel: [phone]

Novum Securities (Joint Broker)

John Bellis

Tel: [phone]

Public Relations

Brian Alexander / David Bick Tel: [phone]

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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June 03, 2019 02:00 ET (06:00 GMT)