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UK Oil & Gas

   Schlumberger Assessment of Horse Hill-1 Well
   Independent Assessment of Horse Hill-1 Well (05-06-2015)
   UK Oil & Gas Investments PLC (LSE AIM: UKOG) announced today that Schlumberger, one of the leading suppliers of technology, integrated project
   management and information solutions to customers working in the global oil and gas industry, has independently assessed the petrophysics of
   Horse Hill-1 well ("HH-1"), located in PEDL137 in the Weald basin near to London Gatwick Airport. UKOG (the Company) has a net attributable interest of
   20.358% in PEDL137.
   The report, entitled Petrophysical Evaluation of the Horse Hill-1 Well, estimates an overall Oil in Place ("OIP") for the Jurassic section of the well to be
   271.4 million barrels of oil ("MMBO") per square mile.
   The total OIP comprises 16.2 MMBO per square mile for the conventional Upper Portland Sand reservoir discovery and 255.2 MMBO per square mile solely
   for the tight limestone and mudstone plays of the Kimmeridge, Oxford Clay and Lias. The OIP hydrocarbon volumes estimated should not be construed as
   recoverable resources or reserves.

   Next Steps (Schlumberger):
   PETROPHYSICAL EVALUATION OF THE HORSE HILL-1 WELL - SCHLUMBERGER
   The logs of a number of additional wells within the Horse Hill licences and wells surrounding HH-1 have been made available by UK Oil & Gas Investments PLC ("UKOG")
   to proceed to the next phase of performing a localized resource assessment of licences PEDL 137 and PEDL 246. This analysis will also incorporate the Horse Hill-1
   interpretation completed in this initial study.
   As UKOG has other licenced acreage in the Weald, and subsequent to this localized assessment the final stage of the evaluation process will be to conduct on UKOG’s
   behalf an overall assessment of the Weald Basin, covering approximately 5500 km2, using the well-established Rapid Resource Assessment (RRA) approach,
   an international emerging play exploration workflow that has been deployed around the world in places such as the Middle East, North Africa, China, Western Europe
   and South America. The RRA has been proven to provide key decision making criteria for the early exploration and appraisal phase for tight reservoirs and hybrid play
   targets. The results of the RRA will assist UKOG in assessing the conventional and tight oil potential of its licences elsewhere in the Weald and provide decision making
   criteria for future exploration and appraisal drilling.

   UKO&G (LSE:UKOG)

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UK O&G Director David Lenigas on Twitter: https://twitter.com/davidlenigas

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