Fundraising to Raise £800,000 and Notice of AGM

United Oil & Gas Plc (AIM: UOG), is pleased to announce a conditional placing and subscription to raise gross proceeds of £800,000 (the "Fundraising") through the issue of 444,444,444 new ordinary shares of £0.00001 each (the "Fundraising Shares") in the capital of the Company at a price of £0.0018 per share (the "Issue Price"). Global Investment Strategy UK Limited acted as placing agent to the placing and raised gross proceeds of £654,852 and an additional £145,148 was directly subscribed for with the Company. The Fundraising was significantly oversubscribed and was scaled back.

As part of the Fundraising, participants will be issued one warrant for every two new ordinary shares subscribed (the "Warrants"). Each Warrant will be exercisable at £0.0028 and expire on 30 June 2026.

The authorisation to issue the Fundraising Shares along with associated Warrants is included within the resolutions in the Company's forthcoming Annual General Meeting ("AGM") on 25 July 2025 and subject to shareholder approval.

Use of Proceeds

The net proceeds of the Fundraising will be used to:

• Support the ongoing farm-out process for the Company's Walton-Morant Licence in Jamaica, and
• Provide general working capital for the Group.

Brian Larkin, Chief Executive Officer, commented:

"We are very pleased with the strong demand for this fundraising, which was significantly oversubscribed, a clear vote of confidence in our strategy, asset base, and progress in Jamaica.

We structured a modest raise to minimise dilution, to give us near term flexibility through a key phase while preserving upside for existing shareholders. With two additional tranches of warrants already in place, including the £0.0015 warrants now in the money, we have created a framework for progressive funding through future warrant exercises. We continue to focus on delivering on our primary objective the farmout of our Walton-Morant licence in Jamaica.

The Jamaica farm-out process continues to gain traction. We are encouraged by the quality of the parties and the growing level of engagement. Our focus remains on securing the right partner to move the Walton-Morant Licence forward in a way that creates long-term value.

The Walton-Morant Licence offers a rare combination: multi-billion-barrel potential, drill-ready prospects, and shared geological traits with proven regional systems such as Guyana and Trinidad Jamaica's favourable operating environment and rising strategic importance in the context of regional energy security all strengthen the investment case. The "string of pearls" play concept - multiple prospects along trend - increases the potential scale and upside of any initial success.

With the licence extended to January 2028 and growing momentum in the farm out process, we are entering an exciting phase for United and its shareholders."

Notice of AGM

The Company has posted to shareholders, together with its Annual Report and Accounts announced on 26 June 2025, the Notice of AGM to be held at the offices of Laytons ETL, Yarnwicke, 1st Floor, 119-121 Cannon Street, London, EC4N 5AT at 11:00 a.m. on 25 July 2025. A copy of the AGM Notice is available on the Company's website at https://www.uogplc.com/investors/reports-cpr/

Issue of Equity and Admission

Application will be made for the Fundraising Shares to be admitted to trading on AIM ("Admission"), which is expected to occur on or around 28th July 2025. The Fundraising Shares will rank pari passu with the existing ordinary shares of the Company.

Following Admission, the Company's enlarged issued share capital will comprise 2,508,322,223 ordinary shares. The Company will make a further announcement at the time of Admission confirming the total voting rights.