CERP.L Regulatory News (CERP)

For Immediate Release

3 July 2013

Leni Gas & Oil PLC

("LGO" or the "Company")

Director's Options

Leni Gas & Oil plc today advises that all previous existing options to directors have been cancelled and the Company has now implemented a new performance based option package for its key directors.

Neil Ritson, the Company's CEO since 2010, has had his existing options package cancelled and his options package has been replaced by the granting of 25 million options at 1 pence exercise price which vest immediately; 25 million options at 1 pence exercise price which vest upon total group oil production exceeding 500 bopd for 10 consecutive days; 25 million options at 1 pence exercise price which vest upon total group oil production exceeding 600 bopd for 10 consecutive days; and 25 million options at 1 pence exercise price which vest upon total group oil production exceeding 700 bopd for 10 consecutive days. These options will all expire on 31 July 2018.

Steve Horton, the Company's senior non-executive director, has had his existing options package cancelled and his options package has been replaced by the granting of 5 million options with an exercise price of 1 pence which vest immediately; 3,333,333 options at 1 pence exercise price which vest upon total group oil production exceeding 500 bopd for 10 consecutive days; 3,333,333 options at 1 pence exercise price which vest upon total group oil production exceeding 600 bopd for 10 consecutive days; and 3,333,333 options at 1 pence exercise price which vest upon total group oil production exceeding 700 bopd for 10 consecutive days. These options will all expire on 31 July 2018.

David Lenigas, who is head of the Company's remuneration committee, holds no options over the Company's shares.

David Lenigas, the Company's Chairman, commented;

"The Company has recognised for some time that both Neil Ritson and Steve Horton are not adequately rewarded for their professional skills and experience compared to their peers in the oil industry. The Company has recently gone through a transformational change with the acquisition of Goudron in Trinidad and we as a Company needs to ensure our key management are well incentivised over the next year to maximise oil production from the group's assets.

Enquiries:

Leni Gas & Oil plc

Beaumont Cornish Limited

Old Park Lane Capital Plc

Shore Capital

Joint Broker

Pascal Keane +44 (0) 20 7408 4090

Jerry Keen (Corporate Broking)

Pelham Bell Pottinger