Jkx Oil & Gas Share Discussion Threads

[deanroberthunt] 04/2/2015 12:14

hmm....wouldn't take much of a turnaround in Ukraine and/or some positive update/s to make this silly cheap.

[empirestate] 04/2/2015 09:10

looking pretty keen again this morning.

[empirestate] 03/2/2015 17:49

looks like the price and chart is on the turn in line with a decent northerly trend on the oil price.

[mgbroad] 21/1/2015 19:49

hendeson increased holding ?

[deanroberthunt] 07/1/2015 11:07

might be worth working out revenue assuming Ukraine & Russia are worth zilch, as an armageddon valuation scenario...

[wigwammer] 07/1/2015 10:47

The positives are:1) the lights are still on, and measures being taken to keep it that way2) the valuation is rock bottom3) they aren't hamstrung by the same debt/covenants as other e&p's The vast majority of costs here are production related, and with capex cut to the bone, I wonder if they may post positive cash generation.

[family values] 07/1/2015 08:30

Early knock down being well bought.

Blue finish?

[family values] 07/1/2015 07:53

Still a bit grim here.

But

Further cost containment measures.

We managed to sell 60% MORE gas in December than expected.

I agree , accumulate on any weakness, however, don't bet the house on it.

Well run company, dire circumstances.

[jack jebb] 07/1/2015 07:47

I'm going to try and buy a small amount today, if we see early weakness.

Its a high risk punt, but if I can pick up about 20k shares cheaply and hold for a few years, it will either be worth a huge multiple of todays value or nothing.

On that basis only, its worth a small dabble.

imo

[family values] 06/1/2015 13:39

Nice little rise.

Just a sniff of good news and this will bounce.

[family values] 05/1/2015 18:07

Henderson Global have gobbled up another 3%.

Now have 13%.

Good to see someone's assessment is positive.

Hardly deserves the "busted" valuation.


Tick, tock, tick, tock

[family values] 24/12/2014 13:41

Interesting trading into the close.

Hopefully we will get some positive news in the New Year.

[stonefold] 23/12/2014 13:22

Today's RNS
Henderson Global Investors
increasing their long position.
Total voting rights now = 17,294,404
= 10.07%

====

And Basso Capital Management, L.P recently switched to reducing their short position.



====

Late reported trades from 19-12-2014
1,423,500 at 12.0703p
962,814 at 11.862p

[stonefold] 19/12/2014 17:25

Interesting mix of trades going on today
900,000 at 13.02p
and the uncrossing trade at the close 2,122,349 at 11.75p
--
The Government have up to two weeks from 16-12-2014 to raise an appeal.
However unless they have any relevant new information to present they will almost certainly lose such an appeal.
If they do choose to drag things out they also face the risk of being sued for loss of earnings which would further tarnish the Government's reputation.

Sometime before the end of this year they should publish the planned budget for 2015.
It might give an answer to whether they intend to continue until 28-02-2015 with Naftogaz acting as sole supplier to the top 168 gas consumers.

The budget will also resolve what will happen to subsoil production tax rates from 01-01-2015 onwards.

Yesterday 18-12-2014 the Energy Ministry lent its support to lowering the rates back to how they were in July.




"
The Ministry of energy and coal industry advocates for establishing the rates of royalties for subsoil use in the production of natural gas, which is not for the needs of the population, at 28% (for gas from deposits of up to 5 km) and 15% (for gas from deposits of more than 5 km) in 2015.



About this Ministry in a statement.



"When developing the draft law" on State budget of Ukraine for the year 2015, "the Ministry of Finance issued suggestions/comments to this Bill in the rates of payment for subsoil use for production of natural gas. In particular, asked to leave the rate fee for subsurface use for extraction of natural gas from deposits that are fully or partially lie at a depth of up to 5, 000 meters on the level of 28% and deposits which fully lie at a depth of more than 5, 000 meters on the level of 15%, "the Ministry said in the statement.



According to the Ministry, the extension of the application of increased rates of payment for subsoil use for gas production will make the unprofitable operations-producing enterprises of Ukraine.



As Ukrainian News earlier reported, the proportion of gas companies offer Cabinet finish a bill on amendments to the tax code and set betting royalties for subsoil use in the production of natural gas, which is not for the needs of the population, at 28% (for gas from deposits of up to 5 km) and 15% (for gas from deposits of more than 5 km) in 2015.



on July 31, the Parliament increased the fee for subsurface use for natural gas is not for the needs of the population from 28% to 55% (for gas from deposits of up to 5 km) and from 15% to 28% (for gas from deposits of more than 5 km) until January 1, 2015. "

[empirestate] 19/12/2014 15:39

fillipe, good to hear from you, just added a few more here earlier.

[fillipe] 19/12/2014 14:23

Hi empire .....good to see you....just saying hello here - and looking.

Best wishes

f

[empirestate] 18/12/2014 00:16

Expect a RNS in the morning if i'm reading the above from Stonefold rightly.
Should squeeze a few short positions, which would be nice.

[empirestate] 18/12/2014 00:11

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.

[stonefold] 17/12/2014 15:42

The ball is now back in the Government's court.

Combine this with Chevron's retreat from their shale PSA - the Ministry of Finance should perhaps give further thought to whether prolonging high taxes is the best policy.
-------------------------------



" The court reversed the monopoly "Naftogaz"
Wednesday, December 17, 2014, 14:33

District Administrative Court overturned the decision of the Cabinet, according to which about 170 large industrial consumers were obliged to February 28, 2015 to purchase natural gas only "Naftogaz Ukraine".

The relevant court decisions adopted at the meeting of December 16, reported " Interfax-Ukraine "representative of a company that filed the lawsuit.

As noted, the claim to the government for recognition illegal and void above resolutions submitted PJSC "Natural Resources", LLC "East Geological Union", LLC "KUB-Gas" LLC "Tisahaz", JSC "Energy Service Company" Esko-North "JSC" Naftohazvydobuvannya "," Poltava Petroleum Company "Ltd. and" Naftogaz Alliance. "

As reported, the government decrees №596 and №599 of 7 and 12 November ordered 90 companies to buy gas exclusively "Naftogaz Ukraine" and then Decree №647 of November 26, this list was increased to nearly 170 companies"

[wigwammer] 12/12/2014 21:42

Oh dear smuggy, I don't own the shares and I feel sorry for those who do.. Might be interesting down here but your post tells us more about you than about jkx.

[smurfy2001] 12/12/2014 16:49

wigwammer - oh dear, look when l posted it.

[shaf200] 12/12/2014 14:55

Is this going bust?

[stonefold] 12/12/2014 10:05

11-12-2014 EU criticises only buy from Naftogaz policy.



Energy Community Secretariat’s statement on distortions to the gas market legal framework in Ukraine.

"The Energy Community Secretariat recalls that the recently adopted Decrees of the Cabinet of Ministers No. 596 of 7 November and No. 647 of 26 November 2014 distort the part of the gas market already liberalized in Ukraine in favour of the state incumbent Naftogaz. These Decrees remove the possibility of private companies to buy and transport gas from any supplier other than Naftogaz in a manner that is disproportionate to any objective pursued. The Decrees violate Energy Community law and the Secretariat insists on their immediate removal. ....."

[wigwammer] 11/12/2014 16:17

Some people don't read the RNS statements.They are losing half of their revs. Nothing to do with tax.