Convertible loan fully repaid

UK Oil & Gas PLC

("UKOG" or the "Company")

Convertible loan fully repaid

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that it has fully repaid the balance of the convertible loan facility with RiverFort Global Opportunities PCC Limited and YA II PN Ltd and, as a result, the Company is now debt free.

For further information, please contact:

UK Oil & Gas plc

Stephen Sanderson/ Allen D Howard/ Guzyal Mukhametzhanova                            Tel: 01483 941493

Zeus Capital Limited (Nominated Adviser and Broker)                                                  

James Joyce / Andrew de Andrade/James Bavister                                                       Tel: 0203 829 5000

Communications

Brian Alexander                                                                                                                     Tel: 01483 941493