Director/PDMR Shareholding

24 October 2013

FALKLAND OIL AND GAS LIMITED

('FOGL' or 'the Company')

Director Dealings

The Company was notified on the 23 October of the following share purchases of FOGL ordinary shares of 0.002 pence each ("Shares") by FOGL's directors that were all made on 23 October 2013:

Timothy Jones, a non-executive director of FOGL, purchased 50,000 Shares each at 28.25p. Mr Jones and his connected person's shareholding is now 255,185 Shares which represents 0.08% of the issued share capital of the Company.

Richard Liddell, Chairman of FOGL, purchased 75,000 Shares each at 28.25p. Mr Liddell's shareholding is now 200,000 Shares which represents 0.06% of the issued share capital of the Company.

Tim Bushell, Chief Executive of FOGL, purchased 90,000 Shares each at 28.00p. Mr Bushell's and his connected person's shareholding is now 250,000 shares which represents 0.08% of the issued share capital of the Company.

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