Ukrainian Emergency Legislation

JKX OIL & GAS plc ("JKX")

Ukrainian Emergency Legislation

The Board of JKX Oil & Gas plc ("JKX") has noted that the Ukrainian Government has passed emergency budget legislation which will substantially increase production taxes for the oil and gas industry for the period 1 August 2014 to 31 December 2014. The most significant tax increase is on gas production where the rate will approximately double to a level of 55 per cent.

In light of this significant change to the fiscal environment for independent oil and gas operators in Ukraine, the Board of JKX is evaluating the impact on its ongoing investment programme carefully, and will be taking operational and financial measures to protect the interests of the Company and its shareholders.

A further announcement will be made in due course.

JKX Oil & Gas plc is an exploration and production company listed on the London Stock Exchange. The Company has licence interests in Ukraine, Russia, Hungary and Slovakia.

ENDS

For further information please contact:

Cardew Group T: 020 7930 0777

Nadja Vetter M: 07941 340436

Lauren Foster M: 07887 676 603