JKX Oil & Gas plc

On 26 January 2010, our client JKX Oil & Gas plc ("JKX" or the "Company") announced that it intended to raise approximately £38mlion by means of an accelerated bookbuilding process.

JKX is an oil & gas exploration and production company focused on the former Soviet Union and is a constituent of the FTSE 250 index. The Company's principal interests are located in Ukraine and Russia, with additional interests in Hungary, Bulgaria and Slovakia. The proceeds from the placing are principally intended to: (i) accelerate the appraisal / development of non-producing fields in JKX's existing portfolio; (ii) optimise production from the Company's developed, producing fields; (iii) increase activity in JKX's existing exploration / appraisal portfolio; and (iv) maintain flexibility to acquire additional interests in JKX's regions of focus.

The placing completed on the same day and was undertaken at a placing price of 265 pence (representing a discount of 4.7 per cent to the closing share price on 25 January 2010). The placing represented approximately 9.1 per cent of the Company's existing ordinary share capital.

Canaccord Genuity acted as financial advisor to JKX Oil & Gas plc.