UK Oil & Gas PLC

("UKOG" or the "Company")

Turkey: Pinarova-1 drilling update

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that further to its Pinarova-1 release of 1^st March 2023, the Company is now in possession of Turkey's General Directorate of Mining & Petroleum Affairs' ("GDMPA") formal written consent covering the Pinarova-1 exploration well's geological and technical objectives and design. As is customary, GDMPA request that they must receive a notice of intended "spud" date five days before actual drilling commencement, still currently expected to be around the end of March or early April 2023. UKOG holds a 50% non-operated interest in Pinarova-1 and the surrounding 305 km² Resan licence, which also includes the Basur-1 light oil discovery.

Qualified Person's Statement

Matt Cartwright, UKOG's Commercial Director, who has 39 years of relevant experience in the global oil industry, has approved the information contained in this announcement. Mr Cartwright is a Chartered Engineer and member of the Society of Petroleum Engineers.

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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.