Court of Appeal Ruling

FINAL - Court of Appeal Ruling

FOR IMMEDIATE RELEASE

13 May 2014

JKX OIL & GAS plc ("JKX")

Court of Appeal Ruling

The Board of JKX ("the Board") announces that the Court of Appeal has today ruled that the restriction notices served by JKX on Eclairs Group Limited ("Eclairs") and Glengary Overseas Limited ("Glengary") and their nominees on 31 May 2013 were valid. The Court dismissed the cross-appeals brought by Eclairs.

The Court of Appeal has allowed JKX's appeal against the High Court's earlier finding that the Board's power to restrict Eclairs and Glengary from exercising their voting rights could only be used for a narrow purpose which the Board had exceeded. The High Court had also held that the Board had reasonable cause to believe that information provided by Eclairs and Glengary in response to requests from JKX was false or materially inaccurate and that the Board acted in good faith with the intention of protecting JKX and its shareholders as a whole. The Court of Appeal did not disturb these parts of the judgment. In consequence, the restrictions imposed by the Board on Eclairs and Glengary are wholly valid.

Eclairs and Glengary have been given permission to appeal to the Supreme Court limited to the issue of the Board's purpose. Pending the hearing of that appeal, the current arrangements concerning the counting of Eclairs' and Glengary's votes remain in place.

For further information please contact:

Cardew Group T: 020 7930 0777

Anthony Cardew: M: 07770 720389

Nadja Vetter: M: 07941 340436