Tabaquite Block, Trinidad

For Immediate Release, 7 am

7 December 2015

LGO ENERGY PLC

("LGO" or the "Company")

Tabaquite Block, Trinidad

and

Total voting rights

LGO today provides an update on the status of the Sale and Purchase Agreement ("SPA") signed in November 2014 with Trinity Exploration & Production Plc ("Trinity") to acquire Trinity's interests in Tabaquite E&P Company Limited ("TEPCL") which holds the Tabaquite Block.

Trinity and LGO have agreed a full and final settlement for the immediate cancellation of the SPA for a consideration of US$265,000 to Trinity including payment of the Trinity's associated legal fees. The consideration is to be paid in LGO ordinary shares ("New Ordinary Shares") equivalent to 41,487,776 shares.

Application will be made for the New Ordinary Shares, which will rank pari passu with all existing ordinary shares, to be admitted to trading on AIM ("Admission"). Admission is expected on or around 10 December 2015.

At the date of Admission, the Company's issued share capital will consists of 3,221,331,488 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 will be 3,221,331,488.

Neil Ritson, LGO's Chief Executive, commented:

"We are pleased to have reached closure on this matter which has become a distraction to LGO during a time of sustained low oil price and a need to focus on its core businesses in Goudron, the SW Peninsula of Trinidad and in Spain."

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