Directorate Appointment

26 July 2016

MX Oil / Ticker: MXO / Index: AIM / Sector: Oil & Gas

MX Oil plc ('MX Oil' or the 'Company')

Directorate Appointment

MX Oil plc, the AIM quoted oil and gas investing company, is pleased to announce the appointment of Mr Richard James Carter as a Non-Executive Director with immediate effect.

Mr Carter (ACMA), aged 35, graduated from Hertfordshire University with a BA (Hons) in Accountancy and began his career at Mouchel Parkman Group plc, a London Stock Exchange listed engineering and government infrastructure provider.

In 2004, Mr Carter moved to International Publishing Company Limited (now Time Inc. UK Limited), a UK publishing company where he worked closely with publishing editors to help drive revenue and reduce costs as well as developing and improving management information. Mr Carter was also involved with new product revenues such as telemarketing, competitions and online subscriber acquisition plans.

In 2007, Mr Carter joined AIM quoted technology and telecommunications start up, Avanti Communications Group plc. Mr Carter was responsible for setting up the company's financial function, operations and processes and internal and external reporting procedures. He also worked directly with the CEO on the company's commercial strategy. Mr Carter was also the Investor Relations Manager and assisted with fundraisings involving the issue of equity, debt and high yield bonds.

In September 2014, Mr Carter joined Gate Ventures plc, an investment company focused on media and entertainment projects. As Chief Financial Officer, Mr Carter oversees all investment transactions of Gate Ventures plc and also serves on the boards of its investee companies Infinity House Productions, Ensygnia IP Ltd, and Playjam Holding Ltd.

Mr Carter holds no ordinary shares in the Company.

There is no further information to be disclosed pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

MX Oil's Chief Executive Officer Stefan Olivier said, "We are pleased to welcome Richard to the board, where his skills will be particularly helpful in the area of business development and analysis of new opportunities".

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