OREANDA-NEWS. JKX Oil & Gas plc ("JKX") confirms that yesterday the Ukrainian police visited its Ukrainian subsidiary, Poltava Petroleum Company ("PPC") and the homes of two of its senior employees, without notice, searching for documents in relation to the investigation of claims of alleged underpaid taxes which have been made by a local prosecutor.

PPC is cooperating fully with the authorities, but nevertheless believes that it is in full legal compliance with the matters outlined in the police warrant and that the prosecutor's action is completely unjustified.  Furthermore the Company believes the police action to be in violation of the Emergency Awards that have been granted in favour of JKX and PPC and against the Ukrainian authorities by the Hague Tribunal and is currently considering its next steps. No disruption to the business has occurred as a result of this action.

Further announcements on this subject will be made as and when appropriate.