Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached:

FALKLAND OIL & GAS LTD

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation:

CREDIT SUISSE GROUP AG

4. Full name of shareholder(s)  (if different from 3.):

Please see section 9

5. Date of the transaction and date onwhich the threshold is crossed orreached:

13/01/2012

6. Date on which issuer notified:

17/01/2012

7. Threshold(s) that is/are crossed orreached:

8%

8. Notified details:

A: Voting rights attached to shares

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

ORD

FK00B030JM18

Not disclosable

Not disclosable

N/A

N/A

18,164,694

N/A

8.7653%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/Conversion Period

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date

Exercise/Conversion period

Number of voting rights instrument refers to

% of voting rights

N/A

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

18,164,694

8.7653%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable:

1. Credit Suisse Group AG

2. Credit Suisse AG

2.1. Credit Suisse Securities (Europe) Ltd

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

14. Contact name:

Anthony Allen/ Liane Agostini/ Paul MacDonald

15. Contact telephone number:

+44 (0) 20 7888 5416/ 3599

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

Credit Suisse Group AG

Contact address

(registered office for legal entities)

One Cabot Square, London E14 4QJ

Phone number & email

020 7883 5416 [email protected]

Other useful information

(at least legal representative for legal persons)

Anthony Allen

B: Identity of the notifier, if applicable

Full name

Contact address

Phone number & email

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information

Our ref: 2517520

For notes on how to complete form TR-1 please see the FSA website.