Jkx Oil & Gas Share Discussion Threads

[2bung] 28/1/2013 13:03

At 8p, this share is expensive.

[martincoops] 28/1/2013 10:02

JKX Oil and Gas plc announces that it has successfully entered into arrangements for the placing, subject to certain conditions, of US$40 million of guaranteed unsubordinated convertible bonds due 2018 (the "Bonds") with institutional investors. Of this, US$23.6 million Bonds will be placed on a firm basis and US$16.4 million will be subject to clawback in respect of valid applications made by qualifying shareholders under the open offer. The Bonds will have an annual coupon of 8.00 per cent. per annum and a conversion price set at an initial price of 87.425 pence per Ordinary Share.

Well it looks ok but I must admit im no expert but a conversion price of 87.425 pence must be a plus

thoughts anyone

[simon gordon] 27/1/2013 11:18

8% for five years, if they get it away, seems a good deal for JKX.

If the story was crumbling with production issues or tax changes they'd probably struggle to get the bond away.

Maybe as they tout around the City selling the bond these doubts will peter out, shorts will close and the shares get re-rated as 2013 targets start to get hit during the course of the year.

Is this now the point to be a buyer?

[2bung] 25/1/2013 16:51

i asked the company about shorts increasing a few weeks back, i got a reply, 'interim statement in march'

[2bung] 25/1/2013 15:24

it won't, i feared that as well, management are probably aggressively shorting it

[wallywoo] 25/1/2013 15:02

Not sure what everyone is surprised at, I was expecting some cash raising after this statement in the half year figures:

"In parallel with retiring our short-term debt, we are actively pursuing longer term funding options to allow the Company to expand its current asset portfolio as we move into 2013. We continue to seek opportunities for growth whether by acquisition or by organic development in our core central and east European areas."

In my opinion, once the storm has blown over this will be a good investment

[empirestate] 25/1/2013 14:54

rather 'hasn't'

[empirestate] 25/1/2013 14:53

that certainly has gone down too well, apart from the share price going down well

[2bung] 25/1/2013 14:43

this is the next CAD

[simon gordon] 25/1/2013 14:42

This looks like the real reason why short interest rose, been touting around the City trying to raise fresh capital.

RPO trying to raise $350m today, another Eastern Block junior out of cash and not self funding.

[2bung] 25/1/2013 14:19

Stay away if you are thinking of buying, that's all i can say. disappointment after disappointment in 1 of the great bull markets.

[gary1966] 25/1/2013 14:07

8% coupon and minimum conversion price of 72.75p doesn't sound too bad to me. Appreciate bondholders will want to get the share price as low as possible over the next 30 days to get the conversion price as close to that 72.75p as possible.

[2bung] 25/1/2013 13:50

Relieved to have got out of this most desperate share. New lows on the way.

[2bung] 24/1/2013 21:56

If there was a bear market this could be 5p. I've lost many, many thousands here.

[salpara111] 24/1/2013 15:14

2bung I can understand your frustration, I only lost a few hundred on a long spread bet taken out at 79p last year.
The reason I am still lurking is due to the fact that the share price has clearly bottomed out at this level and as such any decent news should lead to a significant increase in the share price

[2bung] 24/1/2013 15:06

Great job going on here anyway, i'm selling up, 12 months too late

[2bung] 23/1/2013 16:33

hugely disappointing, the indices at all time highs, and this dog won't move....well it will, downwards.

[salpara111] 23/1/2013 10:48

Not expecting any action until the next update in March.
They have disappointed one time too many and as such will not receive the benefit of the doubt.
I am keeping on my watch list but not looking to get on board until I see the next update.
If they can prove that they are turning the business around there should be big upside potential so worth watching.

[deanroberthunt] 23/1/2013 07:48

should rename this YAWNVILLE RESOURCES

[pilky3] 21/1/2013 17:56

Hope this one day will go above 78p.