Goudron Drilling Update, Trinidad

For Immediate Release

11 June 2015

LGO ENERGY PLC

("LGO" or the "Company")

Goudron Drilling Update, Trinidad

LGO is today pleased to announce that its latest development well, GY-674, which was spudded on 21 May 2014, has reached total depth. Electric log interpretation from both the Goudron and C-sand intervals confirms the presence of recoverable hydrocarbons; the net oil pay in the Goudron Sandstone is estimated to be 492 feet and net hydrocarbon pay in the C-sand main target is estimated at 277 feet.

Drilling Operations:

Well GY-674 is the third of seven wells currently planned for 2015. The net oil pay in the Goudron Sandstone was encountered between 520 and 1,730 feet measured depth ("MD") with an estimated net pay totaling 492 feet. The oil and gas bearing C-sand interval was encountered at a depth of 2,565 feet MD and the total depth ("TD") of the well was 3,458 feet MD. Net hydrocarbon bearing pay in the C-sand interval has been provisionally estimated as 277 feet. These observed net pay zones are in line with the prognosis for this well.

As planned, additional data was collected in GY-674 to assist with ongoing field development studies. A 30-foot core was taken in the C-sand interval with over 92% recovery. A series of down-hole pressure tests were also conducted in the C-sands and it is anticipated that a flow rate and build-up test will be conducted at initial flow in order to further assist with the collection of reservoir engineering data.

Well GY-674 has now been successfully cased for future production and the rig will be moved to drilling Pad 5 where it is expected to spud the fourth well of the 2015 program, GY-675, which is planned to be drilled total depth of 3,700 feet MD (3,450 feet TVD). Well GY-675 is again targeting a C-sand reservoir interval and the top Gros Morne sandstone reservoir (upper C-sand) is anticipated at 1,900 feet MD (1,700 feet TVD).

Neil Ritson, LGO's Chief Executive, commented:

"Well GY-674 included the coring of part of the C-sand reservoir interval which will be fully analysed and the results used in our ongoing studies which includes an enhanced oil recovery project. Further cores are planned in future wells. Production from Pad 4 is now expected to commence in the next few weeks."

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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