Proxima Capital Responds to JKX Oil & Gas Restriction Notices

JKX Oil & Gas plc (JKX) is an upstream oil and gas exploration and production company with oil and gas assets in Ukraine and southern Russia. The Company is engaged in the exploration for, evaluation, development and production of oil and gas reserves. The Company operates in four segments: UK, Ukraine, Russia and Rest of World. The Ukraine and Russia segments are involved with production and exploration. The Rest of World segment is involved in the exploration, development and production. The United Kingdom is the home of the head office and purchases material, capital assets and services on behalf of other segments. The Company's Novo-Nikolaevskoye Complex reserves comprise approximately five distinct fields producing in to one gas processing facility (GPF). In addition, it has a liquefied petroleum gas (LPG) facility, which converts its gas into LPG for sale into the expanding Ukrainian market.