UK Oil & Gas PLC

("UKOG" or the "Company")

Director Share Purchase and Share Options issue

UK Oil & Gas PLC (London AIM: UKOG) announces that on the 16^th December 2021 Stephen Sanderson, Chief Executive Officer, purchased 985,221 ordinary shares in the capital of the company ("Ordinary Shares") at 0.1015p per share. This purchase was carried out under the Defined Directors Share Purchase Programme ("DDSPP") announced on the 28^th May 2021.

Mr Sanderson entered the DDSPP in December 2021 and has committed to purchase approximately 7% of his net monthly salary in Ordinary Shares each month for 12 months with the final purchase expected to occur on 18^th November 2022.

The director has entered the DDSPP in an open period and is committed to making the monthly purchase of shares under the programme in what otherwise may be a closed period. Entering the DDSPP will not preclude the director from buying additional shares in the Company during open periods. The director will be able to enter a new DDSPP upon completion of an existing programme.

The market will be notified of share purchases under the DDSPP on the next trading day via a PDMR: Director's dealing notification.

Issue of Options

UK Oil & Gas PLC (London AIM: UKOG) announces that new options (the "Options") over a total of 15,000,000 Ordinary Shares have been granted at an exercise price of 0.10 pence per share. The Options vest immediately and will expire in five years from grant.

These options have been granted to Matthew Gormley who has recently started as the Chief Financial Officer of the Company.

The Options represent, in aggregate, approximately 0.1% of the existing Ordinary Share capital of the Company. Following the issue, the Company has a total of 291,000,000 options outstanding which have been issued to employees and the Directors of the Company, representing approximately 1.8% of the existing Ordinary Share Capital of the Company.

For further information, please contact:

Notification of transaction by Person Discharging Managerial Responsibilities ("PDMR')

Following the purchase, Stephen Sanderson holds 985,221 ordinary shares in the Company which represents 0.01% of the Company's issued share capital.

This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

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