JKX response to Proxima announcement

22 January 2016

JKX OIL & GAS plc ("JKX")

The Board of JKX notes the announcement made today

by Proxima Capital Group ("Proxima")

The Board reiterates the position set out in its Circular to shareholders dated 31 December 2015 which has received the support of the leading corporate governance advisory institution, ISS. The Circular details the creditable performance of JKX against the extremely difficult constraints arising from JKX's main operations being in Ukraine and substantial decline in worldwide oil and gas prices.

The Circular also gives very clear reasons why, in the interests of shareholders as a whole, shareholders should vote against the Proxima resolutions. Proxima has failed to respond to the Board's substantial concerns.

Furthermore, the Company has noted that Proxima queries why the Company has been raising standard questions regarding disclosure of interests in the Company's shares. Such requests are normal, especially where shares are held through a series of offshore trusts, as they are in Proxima's case.

ISS has recommended shareholders to vote against all of Proxima's proposed resolutions. The Board of JKX unanimously recommends shareholders to follow that advice.

ENDS

For further information please contact:

Cardew Group T: 020 7930 0777

Anthony Cardew M: 07770 720 389

Nadja Vetter M: 07941 340 436