Jkx Oil & Gas Share Discussion Threads

[gregpeck7] 18/10/2018 08:31

Nope but I expect him to buy in here...

[mreasygoing] 17/10/2018 23:47

Gregpeck7, you're the Baron ?

[jaka] 17/10/2018 21:37

Accountancy Daily BDO replaces PwC as auditor of JKX Oil & GasBDO is to take over from PwC as external auditor at JKX Oil & Gas, an exploration and production company which specialises in developing assets in the Ukraine and Russia and is listed on the London Stock ExchangeIn a statement, the company said BDO are proposed to be appointed as auditors with effect from 18 October 2018 and will undertake the audit for the financial year ending 31 December 2018. This follows a competitive tender process for its statutory audit contract, overseen by the audit committee. The appointment of BDO will be subject to approval by the shareholders of JKX at the 2019 annual general meeting.PwC was first appointed as JKX auditor in 2006 and then re-appointed in 2011 following a competitive tender process.Adrian Coates, chairman of JKX's audit committee, said: 'We would like to thank PwC for its contribution to JKX and the work it has carried out during its time as auditor. We have conducted a thorough audit tender process to ensure that our requirements in terms of sector knowledge and experience, coupled with geographical reach, continue to be met. We look forward to working with BDO.'According to the 2017 annual report, JKX paid PwC $628,000 (£477,000) in total during the year, made up of $288,000 for audit of the parent company, $198,000 for the audit of subsidiaries, $101,000 in audit-related assurance and $41,000 for other non-audit services.Report by Pat Sweet

[gregpeck7] 17/10/2018 08:08

50p coming soon here.. load up.

[gregpeck7] 15/10/2018 14:40

Finally starting to wake up.. more director purchases, production rising, great assets.. has 100p all over it...

[rndm355] 12/10/2018 12:48

JKX article - Encouraging Quarterly update boosts the bull thesis

[woodstock17] 10/10/2018 10:18

Good to see a director of the company putting his wallet where his mouth is. All too rare these days.

[jaka] 10/10/2018 08:55

JKX Oil & Gas PLC Director Share PurchaseSource: UK Regulatory (RNS & others)TIDMJKXRNS Number : 4761DJKX Oil & Gas PLC10 October 201810 October 2018JKX Oil & Gas plc ("JKX" or "the Company")Director Share PurchaseThe Company has been notified that on 9 October 2018, Hans Jochum Horn, Chairman of JKX, purchased 100,000 ordinary 10 pence shares in the Company (" Ordinary Shares") at 43.0 pence per share.Following the purchase Hans Jochum Horn has an interest in 100,000 Ordinary Shares, representing approximately 0.058 per cent. of the issued share capital of the Company

[from8to800] 05/10/2018 07:10

TIDMJKX

RNS Number : 0549D

JKX Oil & Gas PLC

05 October 2018

5 October 2018

JKX Oil & Gas plc

("JKX", the "Company" or the "Group")

Quarterly Operations Update


Q3 Q2 Q on 9 months 9 months Y on
Q % Change Y % Change
2018 2018 2018 2017
Total production, boepd(1) 9,411 8,707 8.1% 8,958 8,645 3.6%
Ukraine, boepd 4,014 3,585 12.0% 3,667 3,595 2.0%
- Average gas production, 19.4 16.7
MMcfd(2) (549) (473) 16.2% 17.4 17.3 0.6%
(Mm(3) d)(3) (493) (490)
- Average oil and condensate
production, boepd 785 805 (2.5)% 776 711 9.1%
Russia, boepd 5,302 5,030 5.4% 5,199 4,905 6.0%
- Average gas production,
MMcfd 31.5 29.8 5.7% 30.8 29.1 5.8%
(Mm(3) d) (892) (844) (872) (824)
- Average condensate production,
boepd 60 57 5.3% 58 54 7.4%
Hungary, boepd 95 91 4.4% 92 145 (36.6)%
- Average gas production,
MMcfd 0.5 0.5 - 0.5 0.8 (37.5)%
(Mm(3) d) (14) (14) (14) (23)
- Average condensate production,
boepd 8 7 14.3% 8 10 (20.0)%


Average Group production for the third quarter of 2018 was 9,411 boepd, which represents an 8.1% increase compared to the second quarter of 2018. Year-on-year Group production was up by 3.6%.

Group production on 30 September was 9,610 boepd comprising of 5,025 boepd in Russia and 4,585 boepd in Ukraine.

In Ukraine, production quarter-on-quarter increased due to continuing production from R3, completed late in Q2, and the performance of the work programme:

-- WM215, a leased well, was successfully worked over in September and came online on 26 September at an initial rate of 9.1 MMcfd (258 Mm(3) d) with a WHP of 2400 psig(4) on a 30/64(th) " choke. The well is currently producing at 4.4 MMcfd (125 Mm(3) d) with a WHP of 2300 psig on a 20/64(th) " choke and has yet to stabilise. This is the first well to be tested by PPC on the undeveloped West Mashivske field where further development is planned.

-- E308, the first new well to be drilled since 2014, was successfully completed on 4 September. Production commenced from this well on 17 September and has since stabilised at 0.9 MMcfd (25 Mm(3) d).

-- IG101 sidetrack was worked over which resulted in an increase in the gas rate from 0.3 MMcfd (8 Mm(3) d) to 4.1 MMcfd (116 Mm(3) d) at the start of September. The gas rate has since declined to 0.8 MMcfd (23 Mm(3) d).

-- Due to complications during the workover of the leased well R11, caused by poor condition of the well, it was not possible to reach the primary target, V26. Plans to evaluate the deeper reservoir in this location at a later date are being investigated.

A tender process has been initiated in order to find a suitable drilling rig to carry out the drilling planned in the near future, starting with a new well on the West Mashivske field.

In Russia, production has increased quarter-on-quarter. This is the result of successful acid jobs on Well 25 and 27 in the first week of July. The contracted rig for the well workover programme is currently en route to the Koshekhablskoye field with the start of the Well 5 workover expected towards the end of the fourth quarter.

The process of divesting the Company's Hungary assets is currently ongoing.

Liquidity

Balance sheet extracts at quarter ends were as follows:


In $m 30 Sep 30 June 31 Mar 31 Dec
2018 2018 2018 2017

Total cash 4.9 7.6 6.5 6.9
Bond liability (principal
and interest accrued) (10.9) (11.3) (10.9) (16.8)
Net debt (6.0) (3.7) (4.4) (9.9)

Trade and other receivables 3.2 3.3 2.9 3.3
Trade and other payables (0.6) (1.9) (5.6) (5.4)
Approximate sales value
of gas and oil inventory 9.9 3.1 3.3 3.0


The Company's bond liability relates to a convertible bond with $10.7m principal outstanding. The bond pays an annual coupon of 14% semi-annually in arrears and matures in 2020. The bond terms are described in detail in the 2017 Annual Report.

Approximate sales value of gas and oil inventory are calculated using the latest price information available in Ukraine. A flexible trading approach has been adopted on the sale or holding of gas based upon price fluctuations in the market. At 30 September 2018 inventory consisted of 791 MMcf (22,403 Mm3) of gas and 24,120 bbl of oil held and available for immediate sale at our Ukrainian subsidiary. Since 30 September 353 MMcf (10,000 Mm3) of gas was sold for $3.7m.

(1) boepd - Barrels of oil equivalent per day

(2) MMcfd - Million cubic feet per day

(3) Mm(3) d - Thousand cubic metres per day (1 m3 = 35.315 cf)

(4) psig - pounds per square inch gauge

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

ENDS

[mreasygoing] 02/10/2018 15:56

I've been adding here. Very quiet thread. The re-rate will happen. The tightly held shares and small free float are very appealing too along with the price of oil and gas.

[cf456] 28/9/2018 08:19

"Natural Gas Prices Could Quadruple this Winter"

[kingkongtimmo] 26/9/2018 14:59

Why? Its clearly undervalued. Didn't you say the same about RPT? Zzzzz

[s1zematters] 26/9/2018 09:17

Hello King,
yes sorry, I did mean 'condensate' rather than 'oil'.

best of luck here. ;)

[kingkongtimmo] 26/9/2018 08:55

It's 90% gas size. Even better

[s1zematters] 26/9/2018 08:47

Bought in yesterday and took some more this am. Ukraine oil plays now firmly back in vogue and some lumpy hidden buys going through the book last few days.

[jaka] 30/8/2018 11:53

28th AugustUpdate on 2015 Poltava Rental Fee claims A hearing of the Poltava Circuit Administrative Court has been set down for 11 September 2018 in respect of one of the 2015 Poltava Petroleum Company ("PPC") Rental Fee claims.  This claim relates to additional tax liability and associated penalties of approximately UAH9m (USD0.3m).There are eight separate 2015 PPC Rental Fee claims totalling UAH575m (USD20.6m) in additional tax liabilities and associated penalties.  Apart from the hearing referred to above, no other dates have been scheduled for hearings, although as previously reported a hearing in relation to a claim for additional tax liability and associated penalties of UAH64m (USD2.3m) was recently adjourned and is expected to be scheduled in the coming months.  The amounts referred to do not include late payment interest.

[stonefold] 16/8/2018 12:10

There is a difference between taking over ownership (buying all the shares)
and taking over control (using money or other means of influence on board and top managers to gain operational power)

What happened to Ukrnafta may also happen to JKX.
Ukrnafta has been bled like a caged bear, while its other shareholders are left to rot.



15-08-2018

"..Privat regularly disrupts auctions of Ukrnafta, if it is not satisfied with the starting price. The resource is redeemed at additional auctions and almost always at a lower price than originally exhibited. Despite the failure of the auctions, Privat gets all 100% of the oil produced by Ukrnafta. .."

".. The auction for the sale of oil of PJSC Ukrnafta scheduled for August 15 did not take place due to the absence of buyers, the Ukrainian Interbank Currency Exchange (UICE) said. This is the 7th of 15 auctions that were not held because of the lack of representatives of Privat. .."

".. Naftogaz of Ukraine owns 50% + 1 share of Ukrnafta, 42% own the companies of the Privat group of Igor Kolomoysky and his partners. Privat carries out operational control over Ukrnafta since February 2003. .."



14-08-2018

" ..The Supreme Court of Ukraine confirmed the illegality of contracts concluded by the Ukrnafta management for the purchase of oil products from Kotlas, through which the parastatal company transferred an advance of UAH 2.94 billion with a delay in the supply of fuel for 3 years. This is stated in the message of the National Anti-Corruption Bureau, which disputed these contracts in a judicial procedure. .."

" ..Recall, in addition to advances to Kotlas, Ukrnafta in July 2015 issued another 20 advances companies for the failed delivery of oil products worth about 4 billion UAH. In total from "Ukrnafta" in 2015 by way of free shipments of oil and advances for oil products, about 15 billion UAH were allocated to the companies affiliated with the "Privat" group. In this scheme, according to NABU, 254 legal entities participated, 191 of which are in bankruptcy proceedings. .."



14-09-2015
To help establish control over Ukrnafta, Privat group paid multimillion USD payments to top managers of Ukrnafta.

"..... The parties agreed that Bakunenko receives a fixed bonus of $ 1 million per year, and "provided that minority shareholders are satisfied with the performance of their duties," an additional bonus of $ 0.75 million............"

Mikhail Bakunenko is now an NED of JKX.

DYOR

[cf456] 16/8/2018 11:32

"Ex-shareholder Privatbank Igor Kolomoisky is preparing to gain control over the gas company JKX Oil & Gas together with Vitaly Khomutynnik"

[bu11seye] 14/8/2018 14:01

I got it.





JKX Oil & Gas board probes mysterious move by Ukrainian oligarch who has bought 20% stake in the firm
Ukrainian MP Vitaliy Khomutynnik has become JKX second largest shareholder
His surprise move has raised eyebrows among JKX’s British investors
By JAMIE NIMMO FOR THE MAIL ON SUNDAY

PUBLISHED: 22:15, 11 August 2018 | UPDATED: 22:15, 11 August 2018

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Fears: Vitaliy Khomutynnik snapped up a stake in JKX +1
Fears: Vitaliy Khomutynnik snapped up a stake in JKX

The London-listed oil company JKX Oil & Gas is scrambling to find out why a Ukrainian MP has quietly become its second largest shareholder in a deal that has sparked speculation of a potential takeover by oligarchs.

Vitaliy Khomutynnik, one of Ukraine’s richest men, has clinched a 20 per cent stake in JKX – which has assets in Ukraine and Russia – via an investment fund called Cascade. He bought the stake from Proxima, a Russian fund that in 2016 succeeded in booting out the entire JKX board.

His surprise move has raised eyebrows among JKX’s British investors because Khomutynnik has links with Ukrainian oligarchs Igor Kolomoisky and Gennadiy Bogolyubov. The pair are JKX’s largest shareholder through their investment vehicle Eclairs.

In another thread of the tangled Ukrainian connections, JKX has a 10 per cent stake in Ukrnaftoburinnia, a Ukrainian gas firm where Kolomoisky and Khomutynnik are major shareholders.

[bu11seye] 14/8/2018 14:00

Hello

do you have the daily mail link about the potential takeover?

Thanks

[dragonboy] 14/8/2018 13:58

I think tick up is coming here, I can't believe mms having so much to sell, as they are pretending.