Uk Oil & Gas Regulatory News (UKOG)

UK Oil & Gas Investments PLC

("UKOG" or the"Company")

Loan Conversion & Exercise of Warrants

Loan Conversion

UK Oil & Gas Investments PLC (London AIM: UKOG), announces that, in relation to the £10 million financing announced on 15 November 2017 ("Loan"), it has received a notice of exercise from Cuart Investments PCC Ltd and YA II PN Ltd ("Investors") to convert part of the Loan, with an aggregate par value of £750,000, into equity ("Conversion Notice").

The Company has, therefore, today allotted 65,133,190 new ordinary shares to the Investors ("Investor Shares"). The Investor Shares will rank pari passu in all respects with the existing ordinary shares.

Application will be made for these Investor Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 5 July 2018. After today's conversion, the Par Value outstanding on the Loan is £1.75 million.

Loan Terms

The terms of the Loan, as stated by the Company on 15 November 2017, includes a provision that for as long as any portion of the Loan is outstanding, neither the Investors nor any of their affiliates;

i. shall hold any net short position with respect to the equity of UKOG and

ii. can trade more than 15 % of the number of UKOG shares that have traded in a trading day.

The Loan is convertible in tranches of not less than £250,000, with a limit of £3 million per quarter, starting from the 15 November 2017, unless otherwise agreed by the Company.

Exercise of Warrants

UKOG announces that it has received notice of the exercise of warrants to subscribe for a total of 3,000,000 new ordinary shares in the Company (the "New Ordinary Shares"). The exercise price of the warrants was 1.15 pence.

Application will be made for these New Ordinary Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 5 July 2018.

Following Admission, the Company's enlarged issued share capital will comprise 4,705,264,842 ordinary shares. The Company does not hold any shares in treasury. This figure of 4,705,264,842 ordinary shares 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:

UK Oil & Gas Investments PLC

Stephen Sanderson / Kiran Morzaria Tel: 01483 243450

WH Ireland (Nominated Adviser and Broker)

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

Cenkos Securities PLC (Joint Broker)

Joe Nally / Neil McDonald Tel: 0207 397 8919

Public Relations

Brian Alexander / David Bick Tel: 01483 243450

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