Issue of Shares

18 November 2020

Victoria Oil & Gas Plc

("VOG" or "the Company")

Issue of Shares

Victoria Oil & Gas Plc announces that a total of 205,422 new ordinary shares of 0.5p in the capital of the Company ("Ordinary Shares") have been issued to a former Director pursuant to the exercise of options at nil cost as per the terms of the option agreements.

An 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 23 November 2020. Following Admission, the Company will have 257,067,218 Ordinary Shares in issue.

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

Victoria Oil & Gas Plc

Roy Kelly / Kate Baldwin Tel: +44 (0) 20 7921 8820

Strand Hanson Limited (Nominated and Financial Adviser)

Rory Murphy / James Dance / Jack Botros 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 / Hugh Sanderson 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