Issue of Shares in Lieu of Bonus

Victoria Oil & Gas PLC (AIM: VOG) 

8 June 2017

Victoria Oil & Gas Plc

("VOG" or "the Company")

Issue of Shares in Lieu of Bonus

Victoria Oil & Gas Plc announces that bonus awards have been made to certain employees of and consultants to Gaz du Cameroun S.A., the Company's wholly-owned subsidiary, for the year ended 31 December 2016 and that they have elected to receive this by subscribing for new ordinary shares of 0.5p in the Company ("Ordinary Shares") at 41.5 pence per share, being the volume weighted average share price for the period 1 January 2016 to 28 April 2017.

Accordingly, in aggregate, 378,664 new Ordinary Shares have been issued and application has been made to the London Stock Exchange for the admission of the new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to become effective and dealings in the new Ordinary Shares are expected to commence at 8.00 a.m. on 13 June 2017. Following Admission, the Company will have 110,571,762 Ordinary Shares in issue.

For further information, please visit www.victoriaoilandgas.com or contact:

Victoria Oil & Gas Plc

Kevin Foo / Laurence Read Tel: +44 (0) 20 7921 8820

Strand Hanson Limited (NOMAD)

Rory Murphy / Stuart Faulkner / James Dance Tel: +44 (0) 20 7409 3494

Shore Capital Stockbrokers Limited (Joint Broker)

Mark Percy / Toby Gibbs (corporate finance) Tel: +44 (0) 207 408 4090

Jerry Keen (corporate broking)

FirstEnergy Capital LLP (Joint Broker)

Jonathan Wright / David van Erp Tel: +44 (0) 207 448 0200

Camarco (Financial PR)

Billy Clegg Tel: +44 (0) 203 757 4983

Nick Hennis Tel: +44 (0) 203 781 8330

This announcement contains inside information.