Jkx Oil & Gas Share Discussion Threads

[gregpeck7] 02/2/2018 09:58

Can't buy 10,000 of these online.

[gregpeck7] 01/2/2018 14:29

Added here today..

[gregpeck7] 19/1/2018 09:53

If you like jkx look at Uen, 2000 bopd 140,000 usd, almost no debt and 10m market cap... 60 to 85p last 7 days.Cpr imminent and drilling 23m barrel prospect.

[gregpeck7] 16/1/2018 16:27

Full ask to buy now. Uen also seriously undervalued and that's up 15 percent now. Russian oil coming back.

[gregpeck7] 16/1/2018 10:52

Added here. Not showing.

[gregpeck7] 16/1/2018 10:47

This and uen just keep rising. Russian area coming back into fashion.

[linton5] 15/1/2018 14:46

Not expecting it to but you never know if it can stay above 18 resistance 35.5 is the next weekly resistance

[gregpeck7] 15/1/2018 14:40

Uen looks like it's about to follow the jkx lead and the Eastern oil revival.

[moneybags] 15/1/2018 14:32

linton5.........Are you a canary wharf trader with a Porsche and a million+ portfolio......?.........If you are, feel free to start dating my daughter

Regards , MoneyLookingForSomeOneToTakeHerOffMyHandsBags

[linton5] 15/1/2018 14:28

Keep it steady gal 😸👌

[moneybags] 15/1/2018 14:19

I just picked up another 25,000 shares 3 mins ago at 17p

Regards , MoneyOilyBags


update.......Just picked up 10,000 shares for my daughter 3 mins ago too at 17.48p

[linton5] 15/1/2018 09:14

Not a lot of shares available here,jkx will move fast on any heavy buying

[linton5] 15/1/2018 07:32

Good start to the year nice rns,hopefully push on,this could be a good year for JKX there well undervalued and hopefully better news coming soon

[banj] 09/1/2018 22:54

Well, someone's buying here!!

[banj] 08/1/2018 16:28

Delayed buy???

[stonefold] 05/1/2018 16:16

JKX chart Following RPT ?

[stonefold] 31/12/2017 17:45

On 30-12-2017 the President of Ukraine signed into law the bill No. 6776-d (which reduces production tax for new gas wells)

---



20-12-2017

A good interview with acting CEO Viktor Gladun.
With various steps taken to optimise production/revenue.

They are planning to drill a new well in January 2018.

[wallywoo] 11/12/2017 14:15

Ukraine desperate to attract investment. Lots of people watching with interest what happens to the tax and rent arrears law case with JKX. The odds are that it will work out in JKX's favour in my opinion. Lull before the upward storm here?! maybe

[stonefold] 09/12/2017 11:28

08-12-2017

In order to increase production by promoting the drilling of new wells, Ukraine's parliament has reduced rental rates for subsoil use for natural gas from new wells drilled after 01-01-2018:
for deep wells greater than 5,000m the rate changes from 14 to 6 percent
for shallow wells less than 5,000m the rate changes from 29 to 12 percent


This is stated in the draft law No.6776-d on changes in the Tax Code, approved by the parliament on December 7.

The incentive rent does not apply to oil and gas condensate, or to gas wells which are produced under joint activity agreements.

The new version of the Tax Code contains a proviso that within 5 years, until 2023, the rates for new wells will not increase.

Also, the parliament with a deferral for 1 year, from January 1, 2019, will reduced rates for gas condensate:
for deep wells greater than 5,000m the rate changes from 21 to 14 percent
for shallow wells less than 5,000m the rate changes from 45 to 29 percent

, thereby levelling them with oil and gas.

In addition, the Tax Code separately specifies rent for production sharing agreements at the level of 2% for oil and 1.25% for gas.

[babbler] 30/10/2017 10:23

Lol fair enough. Thought that was a hot strange.

[wallywoo] 30/10/2017 10:14

babbler: £63K in costs not Million.

and $12M odd from the arbitration. Good news but remember that they reportedly owe them $34M in back taxes and rent in another court case.

My guess, they will shake hands and nobody will owe anything!

[babbler] 30/10/2017 10:02

£63m due from Ukraine government on 14 days. Will they pay.

[tradejunkie2] 14/10/2017 19:36

S 21/04/2010 JKX 10000 2.8445
B 08/06/2009 JKX 10000 2.287


Should have got out boys and girls.

[walbrock82] 13/10/2017 11:03

JKX faces claims close to $37m in Ukraine and will have to raise external financing if they lose. But, market capitalisation is a low £24m and that could mean an opportunity.

This oil producer not only suffers from the fall in oil price but is caught between a rock and a hard place because it has operations in Ukraine and Russia. The political fallout between these two countries is ongoing, along with economic and military uncertainties.

It reports a fall of 6.1% in oil production from 9,146 boepd to 8,590 boepd. On a nine-month basis, JKX Oil and Gas have seen daily production fall to 8,645 from 10,155, 16% decline.

Some good news
It was able to restructure their $16m (£12m) bond payments to amortised over three years starting from February 2018. The company made bond interest of $1.1m.
Their next bond payment of $6.9m is due in February 2018 and it is able to finance from cash flow.
Legal dispute
There is total of $37m in claims from the UKRAINE, an area that accounts for 35% of production with the hearing expected shortly.

Some Historical Analysis
Oil production remained at similar levels for some time, but the revenue for that oil has changed.
Back in 2011/12, JKX produces oil production equivalent of 8,000 to 9,000 per day, but their revenue (in £ terms) fell from £148m in 2011 to £54.7m in 2016.
In the past three years, it recorded annual net losses totalling £120m, whereas it made a £37m net profit in 2011.
It has net borrowings of £2m, along with cutting their asset values down to £200m from £400m.


Cash flow
Net cash flow has declined dramatically from £80m to £12m. Meanwhile, capex is cut to £5.5m in 2016, although this will rise to maintain production level because depreciation and amortisation is £14m.

Oil reserves 2P
The company has 109m barrels of oils at the 2P level and 169.5m barrels at 3P level (though given the low price could mean uneconomical).
The annual rate of production is equivalent to 3m-4m barrels per year.
At current market capitalisation, you are getting $30m/109m, then the market is valuing JKX at $0.3 per barrel. Meanwhile, Tullow Oil is selling for $3 per barrel.

Broker Forecast
Stockdale securities have forecast a share price of 40p, a 280% share price appreciation.

My thoughts
The market capitalisation is nearly obliterated, falling from £540m in 2010 to £24m today, a 95% decline.
If they lose the claims, then JKX would need to raise financing from shareholders and investors.
It looks like a punt if you can stomach the tension between Ukraine and Russia. Therefore, I can’t value this business. But if they raise significant finance from shareholders (£50m) then I will be more confident about their prospect.

If you want to read more about other companies’ analysis, those who have released updates and results today, then click