Update on 2015 Poltava Rental Fee claims

28 August 2018

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

Update on 2015 Poltava Rental Fee claims

A hearing of the Poltava Circuit Administrative Court has been set down for 11 September 2018 in respect of one of the 2015 Poltava Petroleum Company ("PPC") Rental Fee claims. This claim relates to additional tax liability and associated penalties of approximately UAH9m (USD0.3m).

There are eight separate 2015 PPC Rental Fee claims totalling UAH575m (USD20.6m) in additional tax liabilities and associated penalties. Apart from the hearing referred to above, no other dates have been scheduled for hearings, although as previously reported a hearing in relation to a claim for additional tax liability and associated penalties of UAH64m (USD2.3m) was recently adjourned and is expected to be scheduled in the coming months. The amounts referred to do not include late payment interest.

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Stuart Leasor, Jeroen van de Crommenacker