Further update on request from Eclairs Group

19 May 2017

JKX OIL & GAS PLC

("JKX" or "the Company")

Further update on request from Eclairs Group Limited

Further to the announcement on 12 May 2017 in relation to the most recent request from Eclairs Group Limited ("Eclairs") to propose ordinary resolutions to appoint Mr Michael Bakunenko as a director of the Company and to remove certain directors of the Company from office at the next Annual General Meeting, the Board has met to discuss its recommendations in respect of the revised Eclairs proposal.

During the Board's deliberations, it has become clear that Proxima Capital Group ("Proxima", the Company's 20% shareholder) and its two nominee directors, no longer support the current composition of the Board, and instead favour a significant restructuring of the Board. Proxima have neither proposed any particular Board composition, nor disclosed how they intend to vote on the Eclairs proposals or the draft AGM resolutions being prepared by the Company. They have however notified the Board that they may choose to do so in the future.

As a consequence, the remaining Board directors expect that some, if not all, of the AGM resolutions which will be sent to shareholders in the coming days will not have the unanimous recommendation of the Board.

The executive and independent directors are particularly disappointed to be announcing the withdrawal of support by Proxima, the shareholder that led last years' overhaul of the Board, at a time when the Company is launching the groundbreaking field stimulation program announced only yesterday, a central plank of the turnaround strategy previously supported by Proxima.

The executive and independent directors will, over the coming days, carefully consider the AGM resolutions which best serve and protect the interests of the Company, and the corresponding recommendations they will make to shareholders. In the meantime, shareholders should take no further action.

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

ENDS

JKX Oil & Gas plc +44 (0) 20 7323 4464

Russell Hoare, Chief Financial Officer

Stockdale Securities +44 (0) 20 7601 6100

Robert Finlay, Daniel Harris

EM Communications +44 (0) 20 3709 5711

Stuart Leasor, Jeroen van de Crommenacker