Jkx Oil & Gas Share Discussion Threads

[shaf200] 03/12/2014 12:33

Whats the likelihood of them going bust?

[empirestate] 03/12/2014 12:18

Couldn't resist, so picked up a few as there appears to be a bit of interest at this level.

[shaf200] 03/12/2014 12:10

Surely debt free doesn't mean absolutely debt free?? They must have some debts!? I'm getting tempted to go in....small punt..... As long as they don't go bust could be a real multiplier in 12 months

[empirestate] 03/12/2014 10:33

Can't see any support at this level. Could see 10p without any clarity. Think i'll sit on my hands and watch for the time being.

[wigwammer] 02/12/2014 19:45

Sales collapse for 3 months, but the balance sheet is debt free.Market clearly focusing on the former rather than the latter today.

[bad robot] 02/12/2014 16:05

Most probably end of year 1p-2p

[empirestate] 02/12/2014 15:23

looks tempting down here, but might see a broker note tomorrow which i can't imagine would be too optimistic. better let the dust settle and wait for a bounce.

[deanroberthunt] 02/12/2014 14:59

it's grim looking at the long term chart....all that promise, but they never diversified enough...simple as that.

[shaf200] 21/11/2014 11:26

I might have a punt on these... looks oversold...

[salpara111] 19/11/2014 16:58

All rather sad,
I had a punt on these a few years ago and got out with a small loss.
The writing has been on the wall for some time now and there is little that the management can do about it.

[deanroberthunt] 18/11/2014 20:43

this will be state owned soon enough.

[mutantpoodle] 17/11/2014 10:26

yes i only sold up to the the CGT allowance amount because i didnt want a large CGT bill

doh!
pay the tax, pay the tax, pay the tax......¬

too late now!

[deanroberthunt] 17/11/2014 10:22

twas 400p once upon a time...

shows the risk with having all your eggs in one basket.....

[ferries5] 08/9/2014 11:42

Oligarch Who Called Putin “Shorty” Gets Stripped of His Fortune

hxxp://www.vocativ.com/world/russia/oligarch-called-putin-shorty-gets-stripped-fortune/?utm_campaign=International&utm_medium=cpc&utm_source=outbrain

[wigwammer] 08/9/2014 10:15

Presumably, if we don't enter ww3 (and I'm guessing most expect that we aren't) - the tax rate falls again and the shares jump to the 60p level.

[joan1234] 05/8/2014 07:11

VIDEO: Bombed Out Oilers: JKX Oil & Gas (JKX), Tangiers Petroleum (TPET) - JKX, TPET
- Today, 7:10 AM

[deanroberthunt] 31/7/2014 12:47

if there ever was a nailed on AVOID....then here it is..

I would touch this with an extended bargepole with my worst enemies money.

[llamarama] 31/7/2014 09:13

They diluted the law down, but JKX is still subject to 55% Royalty (so about 200 euros per thousand cubic metres). Tied to a price set by NERC, so about double than what was before.

This will negate operational cashflows (my back envelope estimate - from 25 to about 5 million) and push the company into loss.

Had a look at the report and saw most badly timed statement ever. On 28th of June (when all was quite well known):

Other taxation - Ukraine:
The royalties and rental costs regime in Ukraine changed to a single production tax system for oil and gas from 1 January 2013, making our position and future liability simpler and more predictable.

On 1 April 2014, the government increased the production tax rate for gas from 25% to 28%. This rate is applied to the actual average import price communicated by the Ministry of Economic Development and Trade of Ukraine. The oil tax rate remained constant at 39%.

[llamarama] 23/7/2014 15:48

Ouch, no wonder its crashing

12. Ukraine govt proposes more than tripling royalties for private gas firms
Concorde Capital
July 22, 2014

The Ukrainian government submitted to parliament on July 21 amendments to
Ukraine's tax code that would significantly increase royalty payments for private
producers of natural gas. The proposal calls for boosting royalties for firms that sell
gas to industrial producers to 70 percent of the regulated gas price (UAH 4,724/tcm,
or USD 406/tcm, based on the current exchange rate). The current legislation
stipulates the royalty payment at 28% (or 15% for those firms extracting gas from
wells deeper than 5 km) of the price of imported gas (USD 282/tcm in June). If the
draft becomes law, private gas producers will have to pay USD 284/tcm in royalties,
up from USD 79/tcm they had to pay in June.

Alexander Paraschiy: The amendment, if approved by parliament, will surely ruin the
attractiveness of gas production in Ukraine. The net positive effect for the state
budget from such an initiative would be close to UAH 8 bln annualized, but it will be
short-lived. It will also lead to a significant decrease in gas output by private
producers. Note that gas output by private firms increased 33% yoy in 1H14, while
output by state firms (which are restricted to low, regulated gas rates) fell 2.5% yoy.
Since the initiative contradicts the government's strategy of energy self-sufficiency,
there is a chance that parliament will reject it.

If approved, the legislative initiative will cause a dramatic deterioration in the
operating profit of Ukraine's listed gas production companies: Serinus Energy (SEN
PW), JKX Oil & Gas (JKX LN), Regal Petroleum (RPT LN) and Cadogan Petroleum
(CAD LN).

For instance, with the new conditions implemented, Serinus Energy will generate
only a USD 65/tcm in netback from gas sales in Ukraine, we estimate, which would
be 4.6x less than the netback in 3Q13 (USD 296/tcm) and 2.7x less than in 1Q14
(USD 180/tcm). The decline will be more dramatic for Regal Petroleum, which
enjoyed a preferable tax rate (paying just USD 42/tcm in royalties in June, we
estimate) as it's producing gas from deep wells.

[glavey] 02/7/2014 22:34

The Chairman sends you a condecending letter expressing their complacency - surely you got one?

[mgbroad] 05/6/2014 18:00

What happens now ?

[glavey] 13/5/2014 19:42

"The Board of JKX ("the Board") announces that the Court of Appeal has today ruled that the restriction notices served by JKX on Eclairs Group Limited ("Eclairs") and Glengary Overseas Limited ("Glengary") and their nominees on 31 May 2013 were valid. The Court dismissed the cross-appeals brought by Eclairs."


Good news, people now free to vote as they see fit.

[glavey] 28/4/2014 03:27

Snouts in the trough. With the dire performance, granting of options like this should be prohibited. They are simply not deserved! Any decent person would be too embarrased to even consider accepting such. And they expect other shareholders to support the board in against attack from activist shareholders?

[hoper2] 27/3/2014 07:55

Very average figures. Not had to long to study them, but turnover, production, profit all down on what I expected. JKX always seems to disappoint a little - glad I got out when the recent problems started.