Share Name Share Symbol Market Type Share ISIN Share Description
Jkx Oil & Gas LSE:JKX London Ordinary Share GB0004697420 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 19.00p 18.00p 20.00p 19.00p 19.00p 19.00p 1,000 07:43:30
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 60.1 -56.1 -32.1 - 32.70

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Date Time Title Posts
23/9/201615:53JKX. Focused on Gas in and around the former Soviet Union1,684
06/2/201517:59JKX 20065,796
20/12/201210:05*** JKX ***9
08/10/200810:35JKX - over-valued132
13/10/200619:34JKX Oil & Gas - 20065

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26/09/2016 10:19:5018.001,000180.00O
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DateSubject
26/9/2016
09:20
JKX Oil & Gas Daily Update: Jkx Oil & Gas is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker JKX. The last closing price for JKX Oil & Gas was 19p.
Jkx Oil & Gas has a 4 week average price of 19.21p and a 12 week average price of 19.12p.
The 1 year high share price is 30p while the 1 year low share price is currently 15.50p.
There are currently 172,125,916 shares in issue and the average daily traded volume is 8,966 shares. The market capitalisation of Jkx Oil & Gas is £32,703,924.04.
10/6/2016
20:02
glavey: So the new board want holders to vote through the same remuneration policy put in place by the old guard which saw them well rewarded whilst the share price collapsed and holders lost 95% of the value of their investment. And those 'independent directors' seem rather close... What next? A sheaf of nil-cost options perhaps? Plus ça change, plus c'est la même chose.
05/6/2016
15:37
stonefold: In the next month or two. As the AGM is due soon = 28th June, and the $180 M arbitration hearing is expected to occur in July, and there was mention of talks between JKX and Ukraine Gov to attempt to resolve matters I thought I would have a wild guess at possible outcomes. After adjusting for current cash, including possible early repayment Feb 2017 of the bonds, assuming that any increase in CapEx is met by the slight (but IMHO expected) increase in oil and gas prices over the next year. Then approx. £9.5M of the current market cap of £36.85 M is IMO due to the expectation that the Ukraine Gov will pay £9.5M to settle all the tax issues. That is to say that if all the court cases and arbitration case were to reach their conclusions, it would result in a net payment to JKX of approx £9.5M. But that this payment is already factored into the current share price of 21p. It would be quicker and avoid legal costs if an out of court settlement were reached and payment were made by a tax credit or tax bond. If the worst case occurs then JKX lose all court and arbitration cases and would be forced to sell up everything to try to cover the debts giving a share price of zero. In the best case, then replace the net payment to JKX of £9.5M with one of £126.7M to give (eventually) a Market cap of £154M, which results in the share price of 87p. Plus possibly some additional amount if damages or interest are awarded. The economic conditions in Ukraine are steady and improving for instance ForEx controls are being lifted, including soon the lifting of restictions to transfer funds from Ukrainian to UK banks.
14/1/2016
15:34
stonefold: It is in my opinion a touch disingenuous of PCG to point to a five year shareprice decline with the implication that it is mainly due to the management of JKX. The shareprice was well into its fall when Proxima Capital Group Inc. were founded in 2013. And it was lower still when PCG first became shareholders in JKX on 05-03-2015. Looking at the 10 year chart it is clear in my opinion that the strong rise in the shareprice was due mainly to the stake building by Eclairs Group Limited and Glengary Overseas Limited. Combined with respectable exploration and production activity, plus firm long term price expectations for the oil and gas sector. Once Eclairs and Glengary = (Mr Igor Kolomoisky + Mr Gennady Bogolyubov + Mr Alexander Zhukov + Mr Oleksandr Ratskevych) stopped buying shares in JKX the long term down trend started. Perhaps the uncertainty as to whether Mr Kolomoisky intended to do the same to JKX as happened to Ukrnafta contributes. This down trend was later assisted by the bursting of the “China growth Dragon” – slump in price of oil/gas – Russian hostilities – Inexperienced Ukrainian coalition government teetering around the plughole of economic collapse – uncertainty as to whether sufficient cash can be generated to deal with a possible early repayment demand of JKX’s loan notes each February. I suspect PCG are hoping to profit from a refinancing plan to replace the loan notes when JKX are seen as weak and having little alternative. Any company could do things better with different decisions/management. For instance PCG should have bought shares in JKX when they were cheap. Instead they behaved in a clumsy and unprofessional way (imo) by releasing an RNS on 05-02-2015. It was not PCG’s responsibility to make comments about movements in JKX’s shareprice – that role belongs to the company concerned i.e. JKX. As a result PCG later bought at a price made higher by their own take/over rumour. If PCG were serious about taking over JKX then they would have talked to JKX - something they seemed to have failed to do. In PCG’s short history they have advised on four deals regarding (Russian I think) telecoms companies. There is as yet nothing that they can show to demonstrate that they could manage an oil and gas company better than the current JKX management. ---------------- 05-02-2015 RNS “……….Possible offer for JKX Oil & Gas plc Proxima Capital Group Inc ("PCG") notes the recent share price movement of JKX Oil & Gas plc and confirms that it is currently in the very early stages of considering a potential offer for JKX Oil & Gas plc. There can be no certainty that a firm offer will be made nor as to the terms on which any offer might be made. PCG intends to approach the Board of JKX Oil & Gas to discuss its proposals. ……” ---------------- 05-02-2015 RNS “….The Board of JKX has noted the recent announcement by PCG that it is in the very early stages of considering a potential offer for JKX. No approach has been made to the Board of JKX…….” --------- 19-02-2015 RNS Proxima Capital Group Inc Holding in JKX as of 18-02-2015 = Nil --------- 19-02-2015 RNS “…..Following further considerations, PCG hereby announces that it does not intend to make an offer for the Company……” ----------- 19-02-2015 RNS “…….The Board of JKX has noted that Proxima, which announced on 5 February 2015 that it was in the early stages of considering a potential offer for JKX, has now announced that it does not intend to proceed. The Board confirms that at no stage has any approach whatsoever been made to the Board of JKX by Proxima. ……….” ------------ 06-03-2015 RNS Proxima Capital Group Inc Holding in JKX as of 05-03-2015 = 21,531,889 ------------ 23-03-2015 RNS Proxima Capital Group Inc Holding in JKX as of 23-03-2015 = 22,587,125 ------------ 27-05-2015 RNS Proxima Capital Group Inc Holding in JKX as of 2705-2015 = 34,288,253 ------------ 11-01-2016 Looks like 58% maybe intending to vote for a change of management. Http://interfax.com.ua/news/economic/316494.html “………Eclairs Group supports the initiative on change management JKX Eclairs Group Igor Kolomoisky and Gennady Bogolyubov, which is the largest shareholder of the oil and gas company JKX, supports the initiative of another shareholder - Russian Proxima Capital Group on change management JKX, said the agency "Interfax-Ukraine" director Michael Bakunenko Eclairs. "We support the shift of the Board JKX, but I can not yet say anything regarding the proposed Proxima candidates: we have just received today, more detailed resume before January 28 (date meeting of shareholders JKX - IF) of their study, and will be ready ... the idea of change management we support because in recent years the company has not changed ", - he said. M.Bakunenko added that Eclairs not surprise statement Proxima and its public debate with the current leadership of JKX. "If you look at the position of Eclairs, voiced several years ago, there are the same things that bother Proxima. It was only a matter of time when someone else from among the shareholders will raise the same questions," - said the director of Eclairs. According M.Bakunenko, management JKX operates, "to put it mildly, strange." In addition, Eclairs fear that the board JKX will try again to block their participation in the meeting, as it has happened before. As reported, JKX Oil & Gas Plc with assets in Ukraine will hold a shareholders meeting on January 28 at the suggestion of one of its shareholders - Russia's Proxima Capital Group (PCG, founded by former vice-president of Alfa Bank, Vladimir Tatarchuk). Proxima Capital Group proposes to appoint directors Paul Ostling (Paul Ostling, ex-manager of Ernst & Young and current board member of the "BRIC"), Tom Reed (Tom Reed) and Russell Hoare (Russell Hoare). According to Proxima current management JKX operates inefficiently. In turn, the board considers the actions JKX Proxima attempt to gain control over JKX without fair payment for it. The largest shareholders are Eclairs Group Igor Kolomoisky and Gennady Bogolyubov - 27.54% shares, Glengary Overseas Limited Alexander Zhukov - 11.45% of shares. In addition, the Russian Proxima Capital Group owns a 19.92% stake in JKX. …………”
11/12/2015
07:50
pessimizer: Just seen this http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12619451.html Proxima Requisitions General Meeting to restore value at JKX London, 11th December 2015. Proxima Capital Group ("Proxima" or "PCG"), the independent investment firm, and the beneficial owner of 19.92% of the share capital of JKX Oil & Gas plc ("JKX" or "the company"), has delivered a requisition to JKX to call a general meeting ("GM") to give shareholders the opportunity to vote on a new direction for the company. Details of our requisition, which we have not yet discussed with any other shareholders, are set out below. We will be writing a letter to shareholders of JKX in due course to set out further details of our turnaround proposal, and we look forward to communicating with them and other stakeholders about our strategy to save the company, and to gather additional views on how we can restore JKX to profit and growth. Our requisition proposes that the Board is reduced in size from nine to seven members, with all four executive members of the Board replaced along with three of the non-executive directors, Lord Oxford, Mr Nigel Moore and Mr Dipesh Shah. PCG has proposed the following candidates, all of whom are wholly independent of PCG, to be appointed to the board in the following capacities: • Paul Ostling, to be chairman. Former global COO of Ernst & Young, extensive board experience on international blue-chips in the UK, US and Russia. • Tom Reed, to be CEO. Over 20 years of business and energy experience in the region. • Russell Hoare, to be CFO. Qualified UK Chartered Accountant. Over 15 years' experience of Russia, Ukraine and CIS. PCG has also proposed two candidates to represent it on the board: • Vladimir Tatarchuk, CEO PCG. Nearly 20 years' experience in finance sector in Russia and Ukraine, including senior positions at Alfa Bank and Deputy Chairman of VTB Bank • Vladimir Rusinov, Managing Director PCG. 20 years' in investment banking in the global and CIS oil & gas sector with Goldman Sachs, Merrill Lynch, ABN AMRO and Renaissance Capital Commenting on the announcement, Vladimir Tatarchuk, the CEO of PCG, said, "We are asking the shareholders of JKX to act now to save their company. The current JKX management have had their chance to demonstrate their ability to run the company properly and to realise its true value. Yet despite numerous promises of improvement, they have continually failed to do so. They have rebuffed our offers of greater engagement and the benefit of our expertise. The time has come for the company to be given fresh direction by a new independent and professional leadership team, which is ready to roll up its sleeves on the ground, to stop the destruction of value and to rebuild the company for the benefit of all shareholders. In the coming weeks, we look forward to communicating our key proposals for turning the company around, and opening up a constructive dialogue around the company's future with all stakeholders." Paul Ostling, PCG's nomination for independent non-executive chairman, added, "JKX's share price has fallen by over 90% over the past five years and it has underperformed against virtually all its peers. The poor performance cannot solely be explained away by the fall in oil price or the geopolitical situation. In fact there has been a seemingly irreparable breakdown in the relationships between the company and all of its key stakeholder groups. It would appear that the time has come to change the management team and ensure it is better equipped to restore value and to meet the challenges ahead." Tom Reed, PCG's nomination for CEO, said, "The company seems to have spent large amounts of money for scant return and appears to have missed every significant target it has set itself. It is clear that there now needs to be a thorough review of operations, a renewed focus on core assets and a prioritization of relationships with the relevant local authorities and key stakeholders by a new leadership team."
23/5/2015
15:15
wallywoo: Sorry that made perfect sense to me, over 23M shares traded on Friday and the share price was up over 7%. The political news all looked positive too, hence the reason for an interesting few weeks ahead - ie: 1)the national gas company is being broken up - opportunity?? 2)Crackdown on corruption (Ukraine currently charging too high a tax rate - against earlier agreements) so therefore a tax change much more likely now 3) Domestic gas price to rise 4 fold in the Ukraine. Should increase JKX's assets
06/2/2015
13:07
jeffcranbounre: In today's ADVFN podcast Zak chats and charts JKX Oil and Gas #JKX To listen to the podcast click here> http://bit.ly/ADVFN0124   In today's podcast: - "What are you investing for?" - Technical Analyst and PR at Materinvestor.co.uk Zak Mir chatting and charting Quindell, JKX Oil & Gas, Rexam, UKOG, Union Jack Oil and AfriAg. Zak on Twitter is @ZaksTradingCafe - The micro and macro news - Plus the broker forecasts   Companies mentioned in today's podcast include: Quindell #QPP Premier Farnell #PFL Gulf Keystone Petroleum #GKP Skypharma #SKP JKX Oil and Gas #JKX Imperial Innovations #IVO Lonmin #LMI Rexam #REX Paragon #PAG Berkeley Group Holdings #BKG UKOG #UKOG XP Power #XPP Poundland Group #PLND Bovis Homes #BVS Union Jack Oil #UJO Constellation Healthcare Technologies #CHT YouGov #YOU Prudential #PRU UKOG #UKOG Barratt Developments #BDEV Capita #CPI Smith & Nephew #SN. Glaxosmithkline #GSK AfriAg #AFRI Solo Oil #SOLO Tate & Lyle #TATE Avocet Mining #AVM Shaftesbury #SHB   Every Tuesday is Ten Bagger Tuesday on the podcast. If you know of a stock, whose share price has the potential to increase ten fold, just click the link below. Ten Bagger Tuesday (All it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast). You can subscribe to this podcast in iTunes by clicking HERE To follow me on Twitter click HERE Please DO NOT buy any stock recommended in this podcast basely solely on what you hear. The opinions in this podcasts are just that, opinions. Please do you own research before investing. Justin    
18/12/2014
00:11
empirestate: JKX Oil & Gas Plc (LON:JKX) is a small-cap oil and gas explorer with its main business in Ukraine and Russia. The company has suffered a 80% fall in its share price this year. Hedge funds have have made big gains from the JKX short include, Polygon Global, Basso Holdings and Tenor Capital Management company. Should be interesting when they close out their positions.
28/9/2012
11:39
peter27: "Out of interest, am I right in thinking that if a merger did take place, then jkx share prices take on that of the new company and, would (generally) be greater / higher value than the company that merged with them?" imho - it all depends. the corporate world is littered with mergers that destroyed value or takeovers that led to write-downs. The biggest example is AOL Time Warner but recently more close to home BHP Billiton wrote off zillions after the shale gas price collapse having bought assets at the top of the market. Close Brothers wrote off £50m off Mako after a fall in the market. With research I can give you many others. I don't hold any JKX shares having sold at just under 200 when Bruce, the former finance director, resigned in order to move on. Whilst a shareholder I went to a number of AGMs and eventually came to the conclusion that this is a 'jam tomorrow' company. As far as I can see it is simply operating in order to pay the taxes which the Ukrainians increased to such an extent that they are slowly killing the golden goose. They used to pay a healthy dividend and it seems astonishing that I first bought into this company in 2006 at 332 and watched them go over 500. Stopping the dividend was to my mind the real killer for future investment. If they restored it I might think again but until then I will stay out. DYOR
27/9/2012
00:13
cdc1cdc1: Out of interest, am I right in thinking that if a merger did take place, then jkx share prices take on that of the new company and, would (generally) be greater / higher value than the company that merged with them?
25/5/2012
15:32
bobsidian: Brucie5 Unfortunately this is a sector and field in which I lack the technical knowledge to make sense of many of the reports released by such companies. There are bulletin boards where there are technically proficient posters from whom you can learn much. But even they can be at a loss as to why shares they cover can surge to a particular price and then suddenly collapse. Take for example XEL. A week ago it was sitting at around 75p and then in a matter of 3 days surged to hit around £1.15 on an intraday basis on the back of no news releases. Since then it has taken back up to 30p of that 40p move. Doubtless there was some speculation that a drilling had confirmed with a greater of certainty the oil resources believed to be in place. Alternatively take a look at CHAR. There was so much promise built into its share price with a belief that it had found with varying degrees of probability many billions of barrels of oil and it completed its first drill with little apparent success and suddenly the stockmarket took fright and wrote out from the share price almost all of that remaining hope in a day. As you are doubtless aware you are in a sector which can make or lose you a fortune in a short time. And the cost of drilling can be hugely expensive with companies continuously being required to raise finance before any production can be brought on line and often by way of highly dilutive share placings. Take a look at GKP. Rumours of a capital raising exercise caused the share price to tumble by some 50% before the management of GKP took the decisive step of releasing an RNS threatening legal action against those believed to be involved in spreading the rumours. Even the perception of the need to raise finance can see a share price of a company in this sector take a serious tumble. JKX appears to be both producer and explorer and seems to be able to fund its activities without the need for highly dilutive share placings. However, the following detailed in the full year financial statements are worthy of note: ----------------------------------------------------------------------------------------------- Dividend In my Interim Statement, I highlighted the impact on available cash flow of the combination of a significant increase in taxation in Ukraine in 2011, the delay in start-up of the Russian project and the attendant increased project costs. This led to our decision to forgo an interim dividend for 2011. These pressures continue. Your Board recognises that we will need the rest of this year to pay down our existing short-term borrowings, reshape the balance sheet and provide a greater element of liquidity to our operations going forward. Consequently, the Board is not recommending any final dividend is paid for 2011. Outlook The critical issue for your Company in the coming second quarter of 2012 is to complete all aspects of our Russian project to enable the Company to sell its gas at plant capacity. Further work is also required on well 25 to bring it into production. Our financial resources over the next 6 months will be stretched and it may be necessary to delay some drilling projects and the frac in Ukraine until later in the year. Ukraine remains the engine of the Group and we will continue our endeavours to broaden our licence position there. Revenue The Group benefited from high international oil and gas prices. The Group enjoyed a 42.1% improvement in the oil price achieved moving from $69.15/bbl in 2010 to $98.27/bbl in 2011. From a total revenue perspective, the gas price strengthening dwarfed the oil price increase as volumes of gas sold represent 75% (2010: 69%) of our total production volume. The Group gas price achieved rose 28.4% from $268/Mcm in 2010 to $344/Mcm in 2011. The Ukrainian gas price achieved had the biggest impact increasing from $284/Mcm at the beginning of the period to $418/Mcm at year-end, giving an absolute price increase of 47.2% during the year. Future Ukrainian Gas prices Recent press contains much speculation concerning Ukrainian gas prices and the Ukrainian push for a renegotiation of the gas supply agreement between Russia and Ukraine; this has a direct impact on the industrial tariff that applies to our Ukrainian gas sales. The two countries have yet to reach any agreement on whether this contract will or will not be adjusted and consequently, the terms of the Supply Agreement of January 2009 still prevail. This resulted in a border price of $416/Mcm during the first quarter of 2012, translating into the price of gas in the industrial market in excess of $430/Mcm. The Ukrainian Parliament recently passed the Budget Law on the assumption that the import price remains at $416/Mcm for the remainder of 2012. ----------------------------------------------------------------------------------------------- Equity markets being what they are may be concentrating on the phrase "reshape the balance sheet and provide a greater element of liquidity to our operations going forward". Uncertainty may be surrounding whether or not the elimination of the dividend will be enough and what exactly is meant by "reshape the balance sheet". Additional uncertainty may also surround financing facilities made available through Credit Suisse and Credit Agricole and their terms of repayment. And given the major uncertainty surrounding the exposure of Credit Agricole to Greece there may be doubt as to whether or not the lesser facility will be available at all to JKX. And finally given how important gas sales have become to JKX, if gas prices are renegotiated downwards by Ukraine with Russia, then the revenues of JKX may be adversely impacted. So, all in all, it looks as though financial liquidity concerns and how management will address those concerns are stalking the share price of JKX.
JKX Oil & Gas share price data is direct from the London Stock Exchange
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