UK Oil & Gas PLC

("UKOG" or the "Company")

Result of Open Offer

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the Open Offer to shareholders announced on 9 July 2021 closed for acceptances, in accordance with its terms, at 11.00 a.m. on 26 July 2021.

The Company received valid applications in respect of a total of 256,974,621 new ordinary shares in the Company ("Open Offer Shares"). The aggregate amount raised pursuant to the Open Offer was £462,554.

Further to the announcement of 9 July 2021, application has been made to the London Stock Exchange for the admission of the Open Offer Shares to trading on AIM ("Admission"). It is expected that Admission will occur and that dealings will commence at 8.00 a.m. on or around 2 August 2021.

Following Admission, the Company will have 16,239,233,251 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 16,239,233,251 and shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

For further information, please contact:

UK Oil & Gas PLC

Stephen Sanderson / Kiran Morzaria Tel: 01483 900582

W H Ireland Ltd (Nominated Adviser and Broker)

James Joyce / James Sinclair-Ford Tel: 020 7220 1666

Communications

Brian Alexander Tel: 01483 900582

The information contained within this announcement is deemed by the Company to constitute inside information under UK MAR

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