The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Steve Boldy, the Chief Executive Officer of the Company (responsible for arranging release of this announcement).

20 July 2023

Lansdowne Oil & Gas plc

("Lansdowne" or the "Company")

Warrant Amendment

Lansdowne Oil & Gas plc (AIM: LOGP), the North Celtic Sea focused oil and gas company, is pleased to announce that, it has now formally agreed the amendment to the LC Warrant Instrument in accordance with the terms set out in the Equity Placing announcement of earlier today.

The amendment provides for the LC Warrants resulting from the equity placing to be granted on admission of the Conditional Placing Shares to trading on AIM (some of which would otherwise have been due for grant upon admission of the Firm Placing Shares).

The Broker Warrants and the LC Warrants will not be granted until the issue of the Conditional Placing Shares and as such are conditional upon, inter alia, the passing of the Resolutions.

Related Party Transaction

As LC is a substantial shareholder in the Company as defined under the AIM Rules for Companies (the "AIM Rules"), it is considered to be a Related Party of the Company as defined under the AIM Rules and the amendments to the LC Warrants (the "Warrant Amendments"), are considered to be a Related Party Transaction pursuant to Rule 13 of the AIM Rules.

The Directors of the Company independent from the Warrant Amendments, being the full Board, consider, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the terms of the Warrant Amendments are fair and reasonable insofar as the Company's Shareholders are concerned.

All capitalised terms used in this announcement are as defined in the Equity Placing announcement.

For further information please contact:

Notes to editors:

About Lansdowne

Lansdowne Oil & Gas (LOGP.LN) is a North Celtic Sea focused, oil and gas exploration and appraisal company quoted on the AIM market and head quartered in Dublin.

For more information on Lansdowne, please refer to www.lansdowneoilandgas.com.