Second successful infill well, GY-683, Goudron

For Immediate Release

 6 April 2017

LGO ENERGY PLC

("LGO" or the "Company")

Second Successful Infill Well, GY-683, Goudron Field, Trinidad

LGO, the oil and gas company with reserves, resources and production onshore in Trinidad, is pleased to announce that its second new development well GY-683 in the 2017 drilling campaign on the Company's Goudron Field, successfully reached total depth ("TD") at 1,250 feet measured depth on 4 April 2017.

Electric log interpretation of the Mayaro Sandstone target interval confirms the presence of oil and it has been decided to perforate and place on production 269 feet of the best net oil pay within the Mayaro reservoir. Casing has now been run and Rig#18 will shortly be moved to allow a workover rig access to the well in order to perforate and put the well to production.

Fergus Jenkins, LGO's Chief Operating Officer, commented:

"I am pleased to confirm that drilling and completion work has progressed entirely to plan and that the anticipated net oil pay is present and will shortly be placed on production. Currently we have a further three wells fully approved and are assessing the best contracting strategy for the drilling of those and future Mayaro wells."

Well GY-682, completed in mid-March, was perforated over a 273 feet of net pay interval and produced at an initial rate of 55 barrels oil per day. Production is continuing as expected from GY-682. Three further wells have been now approved by the Ministry of Energy and Energy Industries as part of the ongoing development in which 45 wells have already received environmental approvals. LGO is currently evaluating the drilling performance to date and determining the best contracting strategy for the next batch of wells as it seeks to double field production by end 2017.

Qualified Person's Statement:

The information contained in this announcement has been reviewed and approved by Neil Ritson, Chief Executive Officer and Chairman for LGO Energy plc, who has over 38 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 (FGS).

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