Directorate Change

2 January 2019

MX OIL PLC

("MXO" or the "Company")

Directorate Change

MXO plc, an oil and gas investing company quoted on AIM, announces that Nigel McKim, Chief Operating Officer, has decided to step down from the Board in order to take up a new role. This change will be effective from 13 January 2019. The Board would like to thank Nigel for his work to date and wishes him well in his future endeavours. The Company will continue to retain the services of its Technical Consultant, Wim Burgers, who has worked with the Company for a number of years. Wim has extensive experience of both the oil and gas sector and, more specifically, of the Company's investment in OML 113 in Nigeria.

Stefan Oliver, the Company's CEO commented:

"I have very much enjoyed having Nigel as part of the team and wish him every success for the future. Going forward, our technical requirements will be more than ably covered by Wim Burgers. Also, given our focus on cost reduction, this change will enable us to trim costs further which is important at this stage of our development."

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

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For further information please visit www.mxoil.co.uk or contact: