UK Oil & Gas PLC - Further funding for UKEn Hydrogen projects

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this information is now considered to be in the public domain.

UK Oil & Gas PLC

("UKOG" or the "Company")

Further funding for UKEn Hydrogen projects

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that due to continued investor demand, the Company has accepted a further investment of £1 million by means of a direct subscription (the "Subscription") of new Ordinary Shares (the "Subscription Shares") at a price of 0.03 pence per share (the "Issue Price") being the same price as the Company's prior placings announced on 2^nd and 3^rd October 2025. The Issue Price represents a discount of approximately 9% per cent to the Closing Price of 0.033 pence per Ordinary Share on 3^rd October 2025, being the latest practicable business day prior to the publication of this Announcement.

Use of Proceeds:

This further tranche of funds will now permit the Company to further accelerate and strengthen the primary technical and economic modelling studies and works detailed in the "use of funds" stated in the Company's RNS of 2^nd and 3^rd October 2025 and which are restated below:

In its latest Annual Report (see RNS 30^th September, 2025) the Directors highlighted the Company's  transition away from the petroleum sector into clean power, emphasising that its South Dorset and Yorkshire salt-cavern hydrogen storage and generation projects will constitute the Company's future core focus. Consequently, by funding both its planned hydrogen development activities and ongoing petroleum sector commitments this material placing will enable the Company to advance its energy transition over the coming year.

More specifically, the funding will also enable the Company to commission and deliver the necessary engineering concept and design studies that are essential to deliver the planned collaboration between our wholly owned subsidiary UK Energy Storage ("UKEn") and National Gas (see RNS 1^st October 2025). The Company sees that this collaboration will support and strengthen the Company's activities related to securing government revenue support via the Hydrogen Transport and Hydrogen Storage Business Model ("HSBM") allocation rounds, now scheduled to commence in H1 2026. Following meetings with the government's HSBM team on 23^rd September 2025 the new requirement for both storage and pipeline operators to submit joint applications for government revenue support makes the delivery of such studies and planned collaboration key for UKEn's future success.

The funding will also enable UKEn to progress a potential combined electrolytic hydrogen generation and local scale salt-cavern hydrogen storage scheme in central eastern Dorset. The funding will permit the necessary technical studies to be undertaken to build upon initial discussions with Dorset Council and a significant Dorset based industrial hydrogen offtaker.

Additionally, the proceeds will also be used to complete economic modelling to further discussions with energy infrastructure and sector specialists with the object of securing a key strategic joint venture partner for UKEn's hydrogen storage projects.

Placing Summary

·    The Subscription raised £1,000,000 (before expenses) through the issue of 3,333,333,330 Subscription Shares at the Issue Price.

·    The net proceeds of the Subscription will be utilised as described above.

·    Participants in the Subscription have subscribed on the basis of the terms and conditions set out in the subscription letter and is conditional only on Admission (as defined below).

The Subscription

The Company will issue 3,333,333,330 Subscription Shares, to raise gross proceeds of £1,000,000 to participants in the Subscription. Admission to trading on AIM is expected on or around 9th October 2025 ("Admission"). Zeus Capital Limited ("Zeus"), acted as the Company's sole agent in respect of the Subscription.

Stephen Sanderson UKOG's Chief Executive commented:

" This week's successful funding, totalling £4.5 million, now firmly places the Company in a strong position to advance its full portfolio of hydrogen storage and generation projects towards timely fruition. We can now commence necessary studies to ensure we can deliver on our collaboration with National Gas, a key step that will strengthen our intended applications for government revenue support in the coming year."

Subscription Information

The Subscription Shares will be issued, credited as fully paid, and will rank pari passu with the existing Ordinary Shares in issue in the capital of the Company, including the right to receive all dividends and other distributions (if any) declared, made or paid on or in respect of such shares after the date of their issue.

Admission to trading

Application will be made to AIM for Admission, which is expected to become effective and dealings in the Placing Shares to commence at, 8.00 a.m. on or around 9^th October 2025.

Following Admission, the total voting rights in the Company will therefore be 33,249,134,662 and Shareholders will be able to use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

For further information, please contact:

UK Oil & Gas Plc

Stephen Sanderson / Guzyal Mukhametzhanova / Kris Bone                                   Tel: 01483 941493

Zeus Capital Limited (Nominated Adviser and Broker)                                                            

James Joyce / James Bavister / Andrew de Andrade                                                  Tel: 020 3829 5000

CMC Markets (Joint Broker)

Douglas Crippen                                                                                                                Tel: 0203 003 8632

Communications

Brian Alexander                                                                                                                 Tel: 01483 941493