Clarification on AGM Results Announcement

28 January 2019

Nu-Oil and Gas plc

("Nu-Oil" or "the Company")

Clarification on AGM Results Announcement

Further to this morning's announcement regarding the results of NU-Oil's Annual General Meeting and following postings on social media, the Company wishes to confirm that, as previously announced, resolution 7, as set out in the Company's AGM Notice, was passed without amendment.

However, the board of the Company ("Board") did confirm to those present at the meeting that, should the Company utilise this authority (at any time prior to its expiry) by way of a non-preemptive placing for cash, then such placing would be limited to 25% of the current issued share capital and would include, in addition, an open offer of an equivalent amount.

The Board wishes to make it clear that there is no current proposal that it will use this authority to carry out a non-preemptive placing.

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Disclaimer

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