Response to the announcement by Proxima Capital

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE

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

Response to the announcement by Proxima Capital Group Inc ("Proxima")

The Board of JKX has noted that Proxima, which announced on 5 February 2015 that it was in the early stages of considering a potential offer for JKX, has now announced that it does not intend to proceed.

The Board confirms that at no stage has any approach whatsoever been made to the Board of JKX by Proxima.

Further Information

Smith Square Partners LLP, financial adviser to JKX

Paul Baines, Jade Jack

Tel: 020 3696 7260

Cardew Group Ltd, PR adviser to JKX

Anthony Cardew

Tel: 020 7930 0777

Smith Square Partners LLP, which is authorised and regulated in the UK by the Financial Conduct Authority, is acting exclusively for JKX and no one else in connection with the offer and will not be responsible to anyone other than JKX for providing the protections afforded to clients of Smith Square Partners LLP nor for providing advice in connection with the offer or any matter referred to herein.