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Leni Gas and Oil plc

Neil Ritson, CEO

Port of Spain, 29 January 2013

London (AIM): LGO

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Delivering Growth through the Acquisition of Proven Reserves & Enhancement of Producing Assets

Trinidad Update, 2013

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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 is the Executive Chairman of Lonrho plc. David is also the Executive Chairman of FastJet plc, Stellar Resources plc and Solo Oil plc.

Chief Executive Officer*

Neil Ritson 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.

Chief Operating Officer

Fergus Jenkins Is a Chartered Engineer with a BEng (Hons) in Mining Engineering and a MEng in Petroleum Engineering. He has 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.

Director of Finance

James Thadchanamoorthy 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 Valiant Petroleum plc.

* - Main Board

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Spain Ayoluengo Field, Cantabrian National Park

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Spanish Assets

Sole owner and operator since 2009 of the Ayoluengo Oil Field, onshore in Northern Spain, discovered in 1964

Late life asset with oil in place of 105 mmbbls and current average daily production of approx. 175 barrels

Oil recovery to date of only 17-20%

Potential Enhanced Oil Recovery project by partial waterflood or an immiscible gas flood

Nearby Hontomin Field awaiting a production licence and 138,375 acres of 100% owned exploration licences

CPS-1 rig on well Ayo-46, March 2011

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Trinidad

Icacos Field, Cedros Peninsula

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Trinidad Assets

Goudron IPSC (100%, operator) with proven and probable reserves of 7.2 mmbbls and 60 mmbbls in a potential water flood project

Earn-in to the Moruga North Field (49%, operator) with existing producible wells and up to 10 new well locations

Interest (50%, non-operator) in the Icacos Field in the Cedros Peninsula, currently producing ~40 bopd from just three existing wells

Ownership (100%) of 1,750 acres of underexplored private oil leases in the Cedros Peninsula, with significant deep exploration potential

Goudron well GY-257 Reactivated Nov 2012

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Corporate Strategy - Trinidad

Focus on onshore oil production and exploration

Acquire proven reserves with material upside

Hold operatorship and a high equity position

Improve existing production and sustainability

Apply new technologies to well/reservoir management

Implement secondary recovery where possible

Extend proven reserves through appraisal/exploration

Create harmonious relationships with all stakeholders

Employ and train only local staff

Develop geographic portfolios of 5,000 bopd potential

Yes, ideal

e.g. Goudron

Yes, 50-100%

300% in 12wk

Many options

e.g. Goudron

All assets

Our goal!

Yes, 100%

Yes

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Goudron: Well Work to Date

Light work-overs to producing wells (e.g. clean out, bailing, rod replacements, pump maintenance) 10 wells

Reactivate wells 13 wells

Reactivate and suspend wells for future work-over 3 wells

Salvage down-hole equipment 4 wells _______

Total (to 19 Jan 2013) 30 wells

On-going programme to increase the total number of producing wells (target of at least 50 wells in under 12 months)

Goudron well GY-257 Reactivated Nov 2012 Altech Rig-1 at Goudron, Nov 2012

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Goudron: Other Work to Date

Maintenance of Tank Battery #34

Extended electric power network

Reactivation of obsolete facilities (e.g. Tank Battery #207)

Repairs to infield roads

Housekeeping and improved security

Environmental remediation work

Acquired 5 new beam pumps, ordered 10 further for March

Installed first plunger lift pump

Increasing sales tank capacity

Goudron well GY-257 Reactivated Nov 2012

Tank Battery #207 after initial clearing, Nov 2012

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Goudron Production Impact

Daily Oil Production (barrels)

LGO well work

LGO operatorship

0

20

40

60

80

100

120

140

160

180

200

6/1/2012 7/1/2012 8/1/2012 9/1/2012 10/1/2012 11/1/2012 12/1/2012 1/1/2013

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Technologies under Consideration

Goudron well GY-257 Reactivated Nov 2012

Coiled tubing directional drilling

Polymer and other sand control methods

Multi-stage hydraulic fraccing

Directional multilaterals/ horizontal wells

Improved water handling (Mycelx)

Surface geochemical mapping and airborne surveys

Mycelx plant installed for Bechtel in Russia, 2009. Handling 1,000 m3 per day at less than 1 ppm output oil in water.

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Plans for 2013

Goudron well GY-257 Reactivated Nov 2012

Continuous work-over and infrastructure programme at Goudron

Log/recomplete/re-perforate selected Goudron wells

Drill at least two new development wells on the Goudron block

Restart oil production at Moruga North

Drill at least one new Moruga North well

Commence geotechnical fieldwork in the Cedros Peninsula

Continue Trinidad business development

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LGO has commissioned

an area-wide airborne

survey to be flown in 2013

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.