Jkx Oil & Gas Share Discussion Threads

[tonysss13] 06/2/2017 15:42

JKX Oil & Gas plc

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



Tribunal Award



JKX Oil & Gas plc ('JKX') announces that it has just received notification of the award of the international arbitration tribunal. It is studying the award in detail and will be making a further announcement to shareholders shortly.



In the interim the Company notes that the tribunal found that the Government of Ukraine was in breach of elements of the bilateral investment treaty between the Government of the United Kingdom and the Government of Ukraine and has awarded JKX damages of approximately USD12 million.



ENDS

[xxx] 31/1/2017 07:09

Thanks for the reply, but what I meant to ask was whether the management would, production and gas price allowing, be of a mind to treat all shareholders equally, by paying dividends or will the controlling shareholders corral the money.

I seem to remember some JKX funds being placed in one of the shareholders banks and then the company being unable to access the funds, being paid back some time later, in the form of a small oil/gas concession, of opaque value.

Thoughts/corrections welcome...

[jumbo66] 30/1/2017 17:49

Hi all hope your all well re jumbo (hd)

[wallywoo] 30/1/2017 10:44

The way I see it, there is another battle going on between corruption on one side and good business environment on the other. JKX in right on the front line, and should be a huge beneficiary if the fun and games and Police inspections finish, and of course the arbitration court files in their favour. The odds are in JKX's favour IMO, but nothing is certain.

Could be this too:

[blue sky territory] 30/1/2017 09:44

What's the story morning glory?

[cudmore] 25/1/2017 10:43

Wallywoo

Totally agree. These will take off imho once the buyers are back. It moves on very little volume. Surprised the day traders haven't jumped on this!

[stonefold] 24/1/2017 12:54

Polygon Global Partners LLP JKX Oil & Gas PLC GB0004697420 0.57% 2017-01-17

Reduced "Net Short" position by approx 188,895 shares. Probably to match equivalent sale of bonds, Or maybe they liked the production figures in the RNS on 17th?

[stonefold] 20/1/2017 17:25

Glavey,
It seems it is the first time JKX have used that particular auction company. There are a number of companies that provide online venues for product to be sold.

Looks like previously JKX mainly sold their oil, gas condensate and natural gas on their own auction website.
Now only the weekly LPG is still being sold there?

[wallywoo] 20/1/2017 09:37

this one is a hard one to call cudmore. We are waiting on news from the arbitration, mean while JKX are slowly but surely getting things ramped up (Hungary now producing again).

IMO I think this will be double from here, maybe more but we need to be patient.

[glavey] 20/1/2017 03:57

Stonefold,
Cheers for that. I understood from the original report that this was the first of these auctions though (or did it just mean the first in 2017?).

[cudmore] 19/1/2017 20:47

Does anyone expect a rise in this share price short term?

[stonefold] 19/1/2017 20:35

The auction price is roughly following the import price. JKX got about $254 per 1000 cu metres which reflects the winter peak demand. That price seems to be a bit higher than the at border natural gas import price.
(approx. 95% of the pipeline import capacity from Europe is being used now)
(no natural gas is being imported from Russia for use in Ukraine)
So it is a good time to be producing and selling gas.

Previous import prices for 2016 are shown in the below link. I'm not sure how closely that matched the prices that JKX got.

[glavey] 18/1/2017 20:24

"...sold 1,200,000 cu metres natural gas for delivery Feb 2017 for approx. $0.305 million..."

Presumably this is at a seasonal premium and may be expected to wane into the summer. Not sure what they have received for sales previously - did you compare?

[stonefold] 18/1/2017 16:08

For an example of a recent auction, JKX sold 1,200,000 cu metres natural gas for delivery Feb 2017 for approx. $0.305 million ex vat on 17-01-2017.



Next auction for 1.0 million cu metres on 19-01-2017.

[cudmore] 13/1/2017 14:08

A few buys this afternoon and these will turn blue again

[stonefold] 12/1/2017 15:40

The trend is moving towards selling produce at auction. Winning bidders have to pay in advance of delivery. The typical chain would only involve private companies with good credit rating such as from JKX to Trader/Wholesaler to Industrial user.

The slightly more problematic payment chains that involve high volume consuming state owned users such as power stations and regional energy distribution companies I suspect are more likely to be supplied by the large state controlled producers.

[wallywoo] 11/1/2017 10:52

The weird thing is cudmore that I know for a fact the 30,000 trade was a sell.

Think this is going to move much higher IMO

[cudmore] 11/1/2017 10:50

Any buys and these trickle upwards. Must be a severe shortage of stock.

[wallywoo] 09/1/2017 15:11

xxx: my understanding are that in the Ukraine most oil / gas is sold through Shell. In Russia it is sold to a local power station. Historically there have been no issues with payment (though lots of legal disputes).

JKX were always a good divi payer before the latest downturn and I see no reason why that culture cannot return. Though this is new management and board members so their policy could well be different. This does have a big ? hanging over it, but I am hopeful this will pay a divi if all goes well over the next 12 months. - The future tax situation and the arbitration case is a big part of that, though, lets see what gets agreed. I notice the proposal to drop the tax rate for new wells in Ukraine did not get approved.

[xxx] 07/1/2017 07:26

It seems to me that the gas/oil are still producible, [although the wells are deep].

The most prominent risks for me are around 1/ the company getting paid [the govt take] and 2/ other shareholders controlling the management/ preventing the flow of those funds back to shareholders in the form of dividends.

I would be interested to hear peoples views about these 2 issues..

[cudmore] 30/12/2016 14:58

Where's this imminent news???

[wallywoo] 19/12/2016 13:48

hello are we off again. Perhaps news coming!!