Appointment of Joint Broker

22 September 2011

Falkland Oil and Gas Limited

("FOGL" or "the Company")

Appointment of Joint Broker

FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, announces that it has appointed Jefferies International Limited ("Jefferies") as Joint Broker alongside Oriel Securities ("Oriel") effective immediately. Oriel will also continue to act as the Company's Nominated Adviser. Jefferies is a major global investment bank and a leading oil and gas advisory firm.

Tim Bushell, Chief Executive of Falkland Oil and Gas, said:

"This is an important period for FOGL as we continue to work towards the commencement of the drilling campaign in the first quarter of 2012. We are pleased to have added Jefferies to our advisory team. Their strong global oil and gas franchise and highly experienced oil team will add considerable value in the months ahead."

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