CERP.L Regulatory News (CERP)

For Immediate Release

 18 April 2016

LGO ENERGY PLC

("LGO" or the "Company")

Results of the General Meeting

Issue of Equity

Total Voting Rights

Further to the announcement of 31 March 2016, the Company is pleased to announce that at the Company's General Meeting held earlier today all Resolutions were passed.

Accordingly the Second Placing can be completed and new Ordinary Shares can be issued in order to settle debts with various outstanding creditors. The Company has also been provided with additional authority to allot shares to raise funds should the market conditions permit.

Pursuant to the Second Placing announced on 16 March 2016, the Company has now issued 120,000,000 new Ordinary Shares of 0.05p each at a placing price of 0.25p per share to raise £0.30 million (£0.28 million after expenses). The net funds will be used for ongoing working capital, to settle some trade creditors and for the payment of agreed sums to the Company's lenders, BNP Paribas. Further settlement of certain trade creditors in the form of shares was also approved by the shareholders at the General Meeting and will be the subject of further announcements in due course.

Application has been made for the new Ordinary Shares, which will rank pari passu with all existing Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to take place on or around 22 April 2016.

Following Admission, the Company's issued share capital will consist of 3,966,053,046 ordinary shares with a nominal value of 0.05p each, with voting rights. The Company does not hold any Ordinary Shares in Treasury.

Therefore the total number of Ordinary Shares in the Company with voting rights is 3,966,053,046.

Enquiries:

Defined terms in the announcement above shall have the same meanings as set out in Appendix II of the announcement of 31 March 2016.