Drilling update, Trinidad

For Immediate Release, 7am

7 September 2015

LGO ENERGY PLC

("LGO" or the "Company")

Drilling Update, Trinidad

LGO is today pleased to announce that the last of its currently planned 2015 development wells, GY-678, at its Goudron Field development in Trinidad, which was spudded on 13 August 2015 successfully reached TD at 4,219 feet measured depth ("MD") on 5 September. Electric log interpretation from both the Goudron Sandstone and C-sand reservoir intervals confirm the presence of recoverable hydrocarbons, with a net hydrocarbon pay in the C-sand main target totaling nearly 480 feet.

Neil Ritson, LGO's Chief Executive, commented:

"Well GY-678, the seventh C-sand well this year, was targeting an area of anticipated thicker sandstone development and has successfully located a similar section to GY-670, which was drilled and completed late in 2014 and has subsequently produced over 105,000 barrels oil to date. This new well has found that same thick sand package and will now be completed for production."

Well GY-678 was the last development well currently planned for the C-sand reservoir in 2015 and the fourth well drilled from Pad-3 in the south of the field. Net oil pay in the Goudron Sandstone was encountered down to 1,065 feet with an estimated 199 feet of total net oil pay. The oil bearing C-sand interval was encountered between 1,535 and 4,147 feet MD. Net hydrocarbon bearing pay in the C-sand interval is estimated as 479 feet. The pre-drill expectations for this well were for a thinner than average Goudron Sandstone section, as has been observed, and a thicker C-sand section. Well GY-670 had a C-sand section of approximately 250 feet, of which 177 feet were perforated, and the 479-foot package in GY-678 exceeds both GY-670 and the pre-drill expectations.

To assist with the anticipated enhanced oil recovery ("EOR") project, a 30-foot core was acquired in GY-678 with 100% recovery to surface. Analysis of this core will be used, along with other information collected in the 15 wells drilled since April 2014, in the ongoing EOR design work which the Company hopes will lead to a pilot water flood commencing in late 2016.

The Company continues to evaluate options for further short-term drilling of wells specifically targeting the oil bearing Goudron Sandstone reservoir and now anticipates finalizing planning of a Goudron Sandstone drilling program before end year.

Qualified Person's Statement:

The information contained in this announcement has been reviewed and approved by Neil Ritson, Chief Executive Officer and Director for LGO Energy plc, who has over 35 years of relevant experience in the oil industry. Mr. Ritson is a member of the Society of Petroleum Engineers (SPE), an Active Member of the American Association of Petroleum Geologists (AAPG) and is a Fellow of the Geological Society of London.

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