Update re Acquisition of 100% in Licence

UK Oil & Gas Investments PLC

("UKOG" or the "Company")

Update re Acquisition of Further Interest in Horse Hill-1 Oil Discovery and Licences, Weald Basin, UK

Further to the RNS dated 13 June 2016 regarding the signed agreements with Celtique Energie Petroleum Limited and Magellan Petroleum (UK) Limited to acquire 100% ownership of the 300sq km Weald Basin Licence PEDL234 (the "Acquisition"), UK Oil & Gas Investments PLC (London AIM and ISDX: UKOG) announces that the material preconditions to the acquisition have now been met. These preconditions include the extension of the licence and the usual regulatory approvals being granted by the Secretary of State for Energy and Climate Change. The Company expects escrow completion of the Acquisition to be announced tomorrow. A further announcement regarding final completion of the Acquisition will be made in due course.

For further information, please contact:

UK Oil & Gas Investments PLC

Stephen Sanderson / Jason Berry Tel: 020 7440 0640

WH Ireland (Nominated Adviser and Broker)

James Joyce / James Bavister Tel: 020 7220 1666

Square 1 Consulting (Public Relations)

David Bick / Brian Alexander Tel: 020 7929 5599