Issue of Shares for Services, Total Voting Rights

For Immediate Release 18 August 2016

LGO ENERGY PLC

("LGO" or the "Company")

Issue of Shares for Services

and Total Voting Rights

The Company today announces that it has issued 727,877,588 new ordinary shares of 0.05p each (the "New Ordinary Shares") to Well Services Petroleum Company Limited ("Well Services") the Company's last major creditor from the 2015 Goudron drilling program at the mid-market closing price on 17 August 2016 of 0.1463p in payment of US$1,379,331 in outstanding fees for services.

Application is being made for the New Ordinary Shares, which rank pari passu with all existing ordinary shares, to be admitted to trading on AIM. It is expected that trading in these shares will commence on 24 August 2016.

Neil Ritson, the Company's Chief Executive, commented:

"Before embarking on a new drilling program at the Goudron Field the Board are keen to conclude arrangements with all existing creditors and we are pleased to have reached a final settlement with Well Services and look forward to collaborating with them in the future."

Total Voting Rights

Following the issue of the New Ordinary Shares, the Company's issued share capital consists of 6,587,999,626 ordinary shares with a nominal value of 0.05p each, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights is 6,587,999,626.

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