15 February 2017

JKX Oil & Gas plc

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

January 2017 Monthly Production Report

Summary

·    Average Group production for January 2017 was 10,136 boepd, a 1.8% month-on-month increase, with Ukraine production up 13.4%, while production in Russia declined by 5.5% compared to December 2016.

·    In Ukraine, gas and liquids production increases were driven by the workover of well NN47 at the Rudenkivske field that was completed in December. In January NN47 produced a total of 138 million cubic feet of gas and 5,786 barrels of condensate. In addition, the Ignatovskoye field waterflood project commenced with injection of water through well IG126 in the southern part of the field.

·    In Russia, gas production fell as effects of acid stimulation on wells 25 and 27 that completed in November began to subside. Further acid stimulation carried out on these wells in the latter part of January helped restore daily production to previous levels.

·    In Hungary, gas sales from the Hajdunanas field commenced on February 2^nd at an initial rate of 1.8 MMcfd, after a production and sales break of more than three years. Production forecasting and development planning is underway and future work may include a workover of the existing Hn-1 well to add production from the Lower Pannonian reservoir interval.

¹boepd - Barrels of oil equivalent per day

²MMcfd - Million cubic feet per day

³MD - Measured depth

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

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