Well 5 initial test results

LEI: 213800AS2I1XUAGQ6F27

2 July 2019

JKX Oil & Gas plc

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

Well 5 initial test results

Well 5 on the Koshekhablskoye field in Russia is producing 171 Mcmd of gas and 5 bpd of condensate (1,022 boepd) with a wellhead pressure of 1,125 psi on a 32/64th" choke. Production has been steadily increasing since an acid job carried out on 27 June 2019 and is now stable.

The contract rig has relocated to Well 18 and is currently rigging up. Well 18 is the second of three consecutive workovers planned on the Koshekhablskoye field in Russia.

Mcmd - Thousand cubic metres per day

bpd - Barrel per day

boepd - Barrel of oil equivalent per day

psi - Pounds per square inch

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

ENDS

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

Ben Fraser, CFO

EM Communications +44 (0) 20 7002 7860

Stuart Leasor, Jeroen van de Crommenacker