Tribunal Award

06 February 2017

JKX Oil & Gas plc

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

Tribunal Award

JKX Oil & Gas plc ('JKX') announces that it has just received notification of the award of the international arbitration tribunal. It is studying the award in detail and will be making a further announcement to shareholders shortly.

In the interim the Company notes that the tribunal found that the Government of Ukraine was in breach of elements of the bilateral investment treaty between the Government of the United Kingdom and the Government of Ukraine and has awarded JKX damages of approximately USD12 million.

ENDS

JKX Oil & Gas plc +44 (0) 20 7323 4464

Russell Hoare, Chief Financial Officer

Stockdale Securities +44 (0) 20 7601 6100

Robert Finlay, Daniel Harris

EM Communications +44 (0) 20 3709 5711

Stuart Leasor, Jeroen van de Crommenacker