Leni Gas and Oil plc Investor Update Neil Ritson 14 August 2014 London (AIM): LGO 1 Company Profile London Stock Exchange Producing Oilfields - listed March 2007 - Trinidad and Spain London HQ Spain Trinidad Staff Net Production Capacity - 50 (All local) - 600 bopd 2P Reserves Market Cap - 7.6 mmbbls - approx. £90 million 2 London Management and Board of Directors Chairman David Lenigas Holds a Bachelor of Applied Science in Mining Engineering and has 30 years of resources industry experience. Until recently he was the Executive Chairman of Lonrho plc. David is also the Executive Chairman of Stellar Resources plc, Solo Oil plc, Rare Earth Minerals plc and AfriAg plc. Chief Executive Officer Neil Ritson Chief Operating Officer Fergus Jenkins Finance Director James Thadchanamoorthy Has a BSc in Geophysics. He has worked in the energy sector for over 35 years, initially with BP plc for 23 years before managing the international operations of Burlington Resources Inc. and more recently as CEO at Regal Petroleum plc, before founding the Vanguard Energy Group where he was Chairman and CEO. He is a Director of Solo Oil plc and a Non-Executive at Enovation Resources Ltd. Is a Chartered Engineer with a BEng in Mining Engineering and a MEng in Petroleum Engineering. He has over 20 years of experience working in industry, initially in mining before moving to petroleum, where he has worked for most of his career in mid-sized independent oil companies, including Enterprise Oil, LASMO, OMV (UK) Ltd and Afren plc. Has a degree in Chemistry and is a qualified accountant. He has 18 years’ experience, including over 10 years spent at BP where he held a number of commercial and finance leadership positions. Non-Executive Director Steve Horton Holds a BSc in Mining Engineering and an MBA. He has 35 years experience working in the energy industry including 27 years with BP plc where he held executive roles including worldwide Director of Drilling. He co-founded Silverstone Energy Limited in 2005. Steve is a Non-executive Director of Seamwell Limited and, until the recent merger, of Valiant Petroleum plc. 3 TRINIDAD 4 Current Trinidad Assets Trinidad Head Office, San Fernando Goudron IPSC (100%) with 2P reserves of 7.2 mmbbls and over 60 mmbbls of contingent resources associated with a future water flood HOA to acquire the Trinity-Inness IPSC from Rex Caribbean Icacos Field in the Cedros Peninsula (50%, non-operator), producing ~35 bopd from three wells Over 7,500 acres of largely unexplored 100% owned private oil leases in the Cedros and adjacent rights held in partnership with Beach Oilfield Limited 5 Goudron Phase 1 Goudron well GY-257 Reactivated 2012 6 Goudron Phase 2 - Drilling Results to date • Spudded first well, GY-664, on 28 April Rig 20 on GY-665, 7 June 2014 • Completed well GY-664 on 30 May in 278 feet of Gros Morne • GY-665, TD on 8 June • GY-666, TD on 1 July • GY-667, TD on 30 July • All wells are expected to be Gros Morne production wells • Spudded GY-668 on 9 August drilling ahead in Goudron Sandstone 7 Well GY-664 • First new well on the field for over 32 years • Drilled from the central camp area • Found 571 feet of net oil pay within 3 reservoirs • Completed over an interval of 278 feet of Gros Morne • Initial flow rate 240 bopd 37 API oil through a 7/32” choke at a flowing pressure of 660 psi • Choked back to 6/32” pressure stable at 540 psi 8 Constrained production rate Production of 240 bopd through a 7/32-inch choke 9 Excellent log characteristics ‘130 foot’ Gros Morne sandstone in GY-667 10 Structure – Top Gros Morne Pad 1 Pad 2 11 Drilling Pad 3 • Third new drill site currently under construction 154 29 4 Well 6 25 7 152 15 3 156 Well 8 • Expect to drill 4 wells 28 6 Well 7 290 Well 9 386 605 • Provisionally 1 Goudron only, 2 Goudron/Gros Morne wells and 1 well to the Lower Cruse • Continue to use Well Services Rig 20 • First well will spud after GY668 • Wells GY-665 to 668 will be placed on production 12 Trinity-Inness 13 Trinity-Inness Asset Summary • Petrotrin IPSC field 20 km from Goudron Installing new well tanks • Current production 140-150 bopd from approx. 25 active wells • Herrera Sandstone at depth of 1,500 – 5,000 feet • Five tank batteries and a 1,500 barrel sales tank • Average 28-38 degree API oil exported directly by pipeline to Pointe-a-Pierre • Approx. 20-30 immediate reactivation targets, and an existing CEC for 12 new wells Trinity-Inness sales tank facility 14 Cedros Peninsula 15 LGO Cedros Lease Position Installing new well tanks Beach Oilfield Cedros Leases FRM-1 Deep Well TED 3D Seismic LGO Cedros Leases Icacos Field Bonasse Field Icacos Leases Galpha Point 16 Plans for the Cedros • In collaboration with Beach Oilfield and Dr Krishna Persad; re-evaluate all existing data and wells Installing new well tanks • Acquired a soil geochemistry survey to isolate micro-seepage and areas of fractionated light oil • Plan to fly a high resolution gravity and magnetics survey • Acquire additional 2D seismic data if necessary to define well locations • Drill at least one deep exploration well to test the potential at Herrera Sandstone level Galpha Point Mud Volcano 17 SPAIN Ayoluengo Field, Cantabrian National Park, Spain 18 Future Potential • Enhance production through the side-tracking of existing wells • Development of Hontomin as a low cost satellite using existing 3D seismic and re-entry of existing wells • Development of Tozo as either a micro-Compressed Natural Gas or Gas-to-Wire project • Deepen Ayoluengo to the proven Liassic reservoirs • Sub-lease the unconventional gas exploration potential 19 Financials 20 Revenue: 2010 to 2014E 12 10 Trinidad (new production) Trinidad (current wells) Spain US Goudron production coming on line in Q3 2014 8 £5.9m 6 4 £3.4m £3.35m 2011 2012 Current Production £2.3m 2 0 2010 2013 0 2014 • Portfolio has been repositioned to focus on growth • Acceleration of the development of Trinidad • Spain will be optimised until the extension is confirmed 21 Gross Profit: 2010 to 2014E 3.25 2.75 Trinidad (new production) Trinidad (current wells) Spain US Goudron production coming on line in Q3 2014 2.25 1.75 1.25 £1.06m £1.09m £1.12m 2011 2012 2013 Current Production 0.75 £0.5m 0.25 -0.25 2010 0 2014 • In 2013 Gross Profit was broadly flat • Higher Trinidad volumes were partially offset by lower sales in Spain • Gross Profit will rise in 2014 in line with significant growth in volumes 22 Share Price Performance 23 Forward Looking Statements Certain statements in this presentation are “forward looking statements” which are not based on historical facts but rather on the management’s expectations regarding the Company's future growth. These expectations include the results of operations, performance, future capital, other expenditures (amount, nature and sources of funding thereof), competitive advantages, planned exploration and development drilling activity including the results of such drilling activity, business prospects and opportunities. Such statements reflect management's current beliefs and assumptions and are based on information currently available. Forward looking statements involve significant known risks, unknown risks and uncertainties. A number of factors could cause the actual results to differ materially from the results denoted in these statements, including risks associated with vulnerability to general economic market and business conditions, competition, environmental and other regulatory changes, the results of exploration, development drilling and related activities, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although these statements are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that the actual results will be consistent with these forward looking statements. 24