Currently new to this stock holding - anyone have ideas as to the recent drop, as there's currently no news around I can track. Granted results due September 24th, but is there a reason for the decline?

Comments/thoughts appreciated.

Thanks.

Sooner 44

Some fairly disturbing price movement over the last couple of days. Can this be solely attributed to directors sales?

The whole sector seems to be taking a bashing.

The US reserve is topped up, winter is more or less over, OPEC say they will produce more oil, then say they wont and finally I think the Market is looking a little harder at some of the ne'er / maybe, hopers in E & P, as predicted a few weeks ago.

You know, loads of contributary factors.

May be time to lock in some profit or top up at the perceived lows.

With JKX, my low has to be 111p, as it stuck there quite a long time recently.

The Director sells will wear off, but frankly E&P is only as good as the last well, the euphoria of which lasts just a few days.

Seawallwalker,

111p, seems to low as it only reached near that price at the start of the trouble in the Ukraine, and when there was that news of water & sand in a well it dropped to a low of 107p, but we have not got any news as bad as that.

It's alright, I am just wishful thinking.

Funny how times change things.

Changes in oil prices maybe imminent but they will still rest higher than they were a year ago. Add to that the fantastic potential of the company and I don't understand why it's taking such a bashing.

queen1,

Me neither to be honest!

We should receive some well news soon, and provided it's good, added to the new political stability in the ukraine, I think the price will stabalise soon.

Most stocks that have had a good year seem to have taken a big hit last week or so, and plenty of profit was made in JKX last tax year, so maybe a few selling to utilise their CGT allowance?

I may add soon, and if the price falls any further, will definately add as soon as it appears to have bottomed.

Thanks Andy. I have no more cash to increase my holding but may take out a spreadbet on the price moving up. That strategy has been put on hold though this week due to the sp dip.

queen1,

Spreadbet on JKX?

Bit volatile for me I'm afraid, intraday movements can be quite large, like yesterday.

Nice to see a little recovery today though.