Jkx Oil & Gas Share Discussion Threads

[bones30] 30/10/2012 14:04

The IMS does indeed state:

"To date it has doubled its production rate to more than 9 MMcfd. A decision on whether to further enhance production by running hydrochloric acid stimulation will be taken once the well is fully cleaned up."

Also:

"The well was then stimulated successfully using a larger acetic acid squeeze and production is now steady at around 15 MMcfd. However, pressure measurements suggest that there is scope for further enhancement and preparations are being made for hydrochloric acid stimulation of this well."

From this it sounds like your 11,023 (assuming the 7740 stays roughly the same) could be conservative?

[salpara111] 30/10/2012 14:03

you could have just read the IMS on 16/10 where they say "we anticipate 10,000 boepd in Q4 !
While they are notoriously unreliable at forecasting, the statement was made when we are already in the 4th quarter so hopefully they can forecast up to 6 weeks ahead!
It was that statement along with the fact that it didn't need any "forecasting" that made me feel comfortable enough to take my initial stake.

[falklands] 30/10/2012 14:03

bones there is more chance of jkx getting to 10,000bopd than trap finding commerical oil in their exploration prospects

shhh g8

[bones30] 30/10/2012 14:00

g8ta - interesting to read that. That does make it look possible indeed.

[g8ta] 30/10/2012 13:18

In the IMS, Q3 production was 7740 boepd. Of this, Russia contributed only 737 boepd which is 4.4 MMcfd.

For this quarter, in the Russian plant, Well 27 is now producing 9 MMcfd and Well 20 is producing 15 MMcfd which equals 24 MMcfd or (I'm assuming) 4020 boepd.

If Q4 production is the same as Q3 for the other plants, then 7740 - 737 + 4020 = 11,023 boepd.

Maths is not a strong point, but that's as I see it.

[bones30] 30/10/2012 11:26

What makes people (incl. the co) so sure this can get back to 10k boepd?

Seems ambitious to me looking at historical figures.

[g8ta] 29/10/2012 21:36

Yes, you are right, Sigala. For longer term holders this decline has been painful and I can be thankful I am not one of them. I think many are waiting to see if the slide is finally over. But, we're in the final quarter and production should be working its way to that average of 10,000 boepd. The share price should start to reflect this and everybody will be happy (except those still short).

[sigala] 29/10/2012 20:43

look on the bright side g8ta - if you had bought back in April you could have paid 178.19........

[g8ta] 29/10/2012 20:00

I've also added today, though feeling a bit of a numpty for paying 78.19. Damn my trigger happy finger.

[mallorca 9] 29/10/2012 19:36

Upwards from here.

I added today.

Mrs Mallorca is very pleased.

[brucie5] 29/10/2012 14:51

Still watching Salpara. Have a small holding bought at just over current levels (79), and may look to increase.

[salpara111] 29/10/2012 13:39

Appears to have gone to sleep....along with posters!
At least it appears to have stabilised now.
Tempted to add to my £20pp March long, paid 79, can now get it for 78.
Assuming they can get back to 10K boepd this quarter then cash flow should not be an issue....not expecting a divi resumption any time soon but as long as cash is going the right way then I think we have found a floor around the current level.

[mallorca 9] 26/10/2012 18:34

Up again to day !

Soon we will see bigger upward jumps ... then the herd will arrive here.

[2bung] 26/10/2012 16:38

Another tick up in the auction, I suspect shorters are closing.

[bones30] 26/10/2012 11:59

What is the current cash position here do we think?

-- Cash resources: $20.3m (2H 2011: $28.9m)
(at 30 Jun)

Do these need to raise capital in the near future?

[mallorca 9] 25/10/2012 19:47

Is this the start back to £1.80 ?

I'm happy to be in here at this level.

Many watching this one.

Could be a flyer pretty soon.

[brucie5] 25/10/2012 18:18

Tiny indication that there might be a bouble bottom in place, but needs to ride the downcoming waves..

[2bung] 25/10/2012 16:52

1st positive auction in quite some time, trend may finally be changing.

[2bung] 25/10/2012 08:45

Just continues to disappoint, must be a seller/shorting in the background

[mallorca 9] 24/10/2012 17:10

Tigmi,

near Can Pastilla

[falklands] 24/10/2012 16:57

one positive aspect mentioned on the thread russian gas i believe jkx will get an export license for this 1Q not sure level but i guess this is where the $10 comes from.

[falklands] 24/10/2012 16:49

agree the 20,000bopd target was mentioned on placing rns statement as a 2011 target before they messed up and they still have not reached 10,000bopd.

seems watching is the best course of action 85m cap is the floor but that makes jkx still toppy calling the bottom on this one is difficult especially as you say lack of news.

[sporazene2] 24/10/2012 15:44

dunno about 20k, if their russian gas oprject gets up to full capacity then that could take them to 13.5k boeq, assuming no decline and no other increases, not sure about the 2013 work programme. problem with their management is that they do not communicate at all well, no corporate presentation, let alone industry events

[falklands] 24/10/2012 15:40

Indeed i have been thinking about it for my chrisoil twitter site as a watch list stock my point is forward forcasting ? placing rns stated 20,000bopd is that still the target for 2013 end ????????

They do seem to underperform now with debt.

[tigmi] 24/10/2012 14:39

Hi All, I have put this on my watch list as I think this surely has to turn at somepoint. It is revenue generating yet it is only just over 100m mcap....

Do you come from the right side of the roundabout in Mallorca, Mallorca....I head to Puerto Pollenca most years.