Director Shareholding

4 April 2013

Falkland Oil and Gas Limited ("FOGL" or "the Company")

Director Shareholding

The Company was notified on 3 April 2013 that Timothy Jones, a non executive director, on 3 April 2013 sold 60,000 FOGL ordinary shares of 0.002 pence each ("Shares") at 26.00p, and subsequently bought 60,000 Shares in the market at 26.05p through his SIPP. Mr Jones's shareholding remains unchanged at 205,185 Shares which represents 0.641% of the issued share capital of the Company.

Enquiries:

 Falkland Oil and Gas Limited +44 (0) 207 563 1260

 Tim Bushell, Chief Executive

 Oriel Securities Limited

(Nominated Adviser) +44 (0) 207 710 7600

 David Arch/Gareth Price