Adm Energy Regulatory News (ADME)

18 February 2016

MX Oil / Ticker: MXO / Index: AIM / Sector: Oil & Gas

MX Oil plc ("MX Oil" or the "Company")

Result of General Meeting

MX Oil, the AIM quoted oil and gas investing company, held its General Meeting ('GM') earlier today and all resolutions were duly passed.

Among the resolutions passed at the GM is a share capital reorganisation ("Capital Reorganisation") of the Company's share capital, which is to be carried out on the basis of each of the existing Ordinary Shares being sub-divided into:-

a)

i. one new ordinary share of 0.01 pence each ("New Ordinary Share") in the capital of the Company, such shares having the same rights and being subject to the same restrictions (save as to nominal value) as the existing ordinary shares as set out in the Articles; and

ii. ninety nine new deferred shares of 0.01 pence each; and

b) the new deferred shares of 0.01 pence each arising from the sub-division referred in paragraph (ii) above have been consolidated into deferred shares of 0.1 pence each ("New Deferred Shares") on the basis of one New Deferred Share for every ten deferred shares of 0.01 pence arising from the sub-division referred in paragraph (ii) above, such shares having the same rights and being subject to the same restrictions as the Existing Deferred Shares of 0.1 pence each as set out in the Company's Articles.

The New Ordinary Shares and the New Deferred Shares have the same rights and are subject to the same restrictions as the existing ordinary shares and existing deferred shares, respectively. For Shareholders who currently hold existing ordinary shares in certificated form, no new share certificates will be issued and the certificates currently held will remain valid, the new nominal value will be shown on any new certificates issued from 18 February 2016. Holders of existing of ordinary shares with certificated shares on 18 February 2016 will retain the same number of shares following the Capital Reorganisation. Shareholders who hold their existing ordinary shares in uncertificated form through CREST will retain their existing shares and the security description will be updated to reflect the new nominal value of the shares from 18 February 2016.

To effect the Capital Reorganisation, it will be necessary to issue an additional number of ordinary shares so that the Company's issued ordinary share capital at the time of the Capital Reorganisation is exactly divisible by 10. Based on the 438,095,737 Existing Ordinary Shares of the Company in issue, three additional Ordinary Shares will be issued to the Company secretary and sold in the market for the benefit of the Company.

Application will be made for the three additional Ordinary Shares, together with 1,250,000 Ordinary Shares which were announced on 27 July 2015 but for which application was not made due to administrative oversight, to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on or around 19 February 2016. The additional ordinary shares will rank pari passu with the Existing Ordinary Shares of the Company.

Following the Admission, the Company will have 438,095,740 Ordinary Shares in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. The above figure of 438,095,740 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

There has been no change to the Company's ISIN or Ticker.

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For further information please visit www.mxoil.co.uk or contact: