Koshekhablskoye Field Update

6 Cavendish Square,

London W1G 0PD, England, UK

Tel: +44 (0)20 7323 4464Fax: +44 (0)20 7323 5258

Web site: http://www.jkx.co.uk

9 July 2012

JKX OIL & GAS plc ("JKX")

ANNOUNCES

KOSHEKHABLSKOYE FIELD UPDATE

JKX Oil & Gas plc ("JKX") reported in May that all regulatory inspections and approvals had been formally concluded, with the issue of the Permit to Operate anticipated in the second quarter. We are pleased to confirm this final permit has now been received.

The Company also reported in May that sales gas has been flowing to the Gazprom network since mid-April. The initial level of delivery is being maintained, but the anticipated ramping-up of production has been delayed while Well 27 is brought on-stream. Currently, Well 27 is being side-tracked in the reservoir section, and is now anticipated to be on-stream at the end of the third quarter.

JKX Oil & Gas plc is an exploration and production company listed on the London Stock Exchange. The Company has licence interests in Ukraine, Russia, Hungary, Slovakia and Bulgaria.

Ends

For further information please contact:

Anthony Cardew/Nadja Vetter/Alexandra Stoneham 020 7930 0777

Cardew Group