Post AGM Board Update

30 June 2017

JKX Oil & Gas plc

("JKX", the "Company" or the "Group")

Post AGM Board Update

Following the announcement of the results of today's AGM, the Board convened a meeting and considered the implications of the votes. JKX now discloses the result of the Board deliberations post AGM.

The composition of the Board of JKX following the AGM is as listed below.

The Board has agreed on a transition period, which is expected to last for three months. During this period Tom Reed and Russell Hoare will remain in an advisory capacity as advisor to the CEO and acting CFO respectively. At the same time, Victor Gladun, the current general director of Poltava Petroleum Company, has been appointed acting CEO. 

Paul Ostling, non-executive Chairman said: "The shareholders have voted and the priority of the Board is to implement their wishes in the best interests of all stakeholders. Among our priorities for the transition period will be to determine the optimum composition of Board and management team to take the company forward.

"We are greatly appreciative of Tom Reed and Russell Hoare both for their service and for their commitment to continue in an advisory capacity during the transition period. We would also like to thank Vladimir Rusinov for his contribution to the Board over the past 18 months. And above all, we would like to thank all our employees for their continued commitment, focus and service."

JKX will be updating the market in normal course on further developments. 

ENDS

EM +44 (0) 20 3709 5711

Stuart Leasor, Jeroen van de Crommenacker