Horse Hill Work Programme Extended by NSTA

UK Oil & Gas PLC

("UKOG" or the "Company")

Horse Hill Work Programme Extended by NSTA

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the North Sea Transition Authority has granted a one-year extension to the PEDL137 Retention Area Work Programme ("RAWP") containing the Company's Horse Hill producing oil field (UKOG 85.635% effective interest).

The RAWP now extends to 30th September 2025 and fully corresponds to the farmin programme agreed with Pennpetro Energy Plc, comprising one new production well, HH-3, plus a 12 km² 3D seismic survey (see RNS of 28 March and 11 December 2023). Seismic acquisition is currently targeted to commence in H1 2024.

For further information, please contact:

UK Oil & Gas Plc

Stephen Sanderson / Allen D Howard                                                                                     Tel: 01483 941493

WH Ireland Ltd (Nominated Adviser and Broker)                                                            

James Joyce / Andrew de Andrade / James Bavister                                                            Tel: 020 7220 1666

Communications

Brian Alexander                                                                                                                            Tel: 01483 941493  

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.