Repurchase of Convertible Bonds

23 September 2016

JKX Oil & Gas plc ("JKX", the "Company" or the "Group")

Repurchase of Convertible Bonds

JKX Oil & Gas plc confirms that on 22 September 2016 it repurchased $1.4 million, in principal amount, of its outstanding convertible bonds which mature in 2018.

The Company intends to cancel the bonds it has repurchased and continues to explore various options for restructuring the remaining $22.4 million, in principal amount, of bonds as set out in its Operational Update released on 21 September 2016.

ENDS

For further information please contact EM:

Stuart Leasor

leasor@em-comms.com

T: +44 20 3709 5711

M: +44 7703 537721

Jeroen van de Crommenacker

crommenacker@em-comms.com

T: +44 20 3709 5713

M: +44 7887 946719