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

LONDON (AFX) - JKX Oil & Gas PLC said BP Exploration Operating Co and the Turkish Petroleum Overseas Co (TPOC) have farmed-in to the Georgia Black Sea license, comprising blocks IIa, IIb and III, held by Anadarko Georgia Ltd.

The production sharing contract is now jointly held by Anadarko (48.0 pct), BP (38.5 pct) and TPOC (13.5 pct); JKX retains a 4 pct net profit interest in the contract through its wholly owned subsidiary: JKX (Navtobi) Ltd.

BP and TPAO, TPOC's parent company, jointly hold the license in the adjoining Turkish Black Sea area and have announced plans to drill a well in mid 2005 on this license.

Very good news I think for JKX and the push that it needed to start the next leg higher.

Queen1,

yes ,one and the same! good to see you here too.

I have held JKX for some time, and feel this is very much a long term hold, and today's RNS supports that view.

we must have a new well result due soon, surely?

Excellent, good to have a familiar poster! Now that all of the political turmoil in the Ukraine seems to have died down and the 132p barrier has been well and truly broken I'm hoping for great things from JKX.

4 director disposals just reported on news.

12:41 JKX Oil & Gas PLC (JKX) Director Shareholding RNS
12:37 JKX Oil & Gas PLC (JKX) Director Shareholding RNS
12:36 JKX Oil & Gas PLC (JKX) Director Shareholding RNS
12:26 JKX Oil & Gas PLC (JKX) Director Shareholding


price is +1.5 at the moment.

JKX Oil & Gas CEO lifts stake after exercising options
AFX


LONDON (AFX) - JKX Oil & Gas PLC said chief executive Paul Davies and finance director Bruce James Burrows have exercised share options at 16.75 pence per share.

Davies acquired 267,697 JKX shares, increasing his holding to around 3.78 mln shares, or 2.63 pct.

Meanwhile, Burrows exercised options over 150,068 JKX shares, or 0.105 pct. He subsequently sold the shares at 151.5 pence each. Following these transactions, his stake in the company is 161,617 shares or 0.113 pct.

newsdesk@afxnews.com

ak/

Good to see the rise in the SP today. Seawallwalker, have you come over to the JKX BB to get more action than at SEY (although it was a good day there too to be fair)?

queen1,

IMHO best to be in BOTH SEY and JKX!

Andy, yes I have small stakes in both as the old war chest cannot afford anything bigger. Still at least that limits the downside for me should things not go to plan :-)

Queen1,

I feel very confident about SEY and JKX for the longer term, I think both will increase shareholder value substantially.

Even the till operator in my local shop is from the Ukraine!

Amities Andy et queen 1 and all JKX holders. / What with a with median price of $40,31c pboe being the current "unhedged" price attained by Expo/producers from the refineries; and what with JKX moving a higher percentile of its previously "hedged" ( 20% ) production away from the servicing of the Ukranian domestic market and into the more infinitely fiscally more rewarding and lucrative markets of the West such as Germany.ltaly and France via a labyrinth of newly laid pipelines i see a new chapter in the JKX saga unfurling. For instance ; The j/v with BP and its Turkish counterparts and its respective 96% "farming in" in the JKX exclusively held license in this part of the Black sea has been totally UNFACTORED into the JKX s/p .This "Black Sea" deal ALONE underlines the simple fact that even if production achieved on this new venture is on a parity with the BP/TO j/v in the Turkish sector of the Black sea which yielded a "gusher " in excess of 3.2 billion barrels of low sulphur sweet crude ,the 4% interest belonging to JKX ( on a site which BP freely admit will at least equal-lf not surpass- the previous find) , could and will, easily equate , to a figure in excess of 150/160 mmboe which in turn equates to an addition of an astonishing $50 million to the coffers of JKX .YES !! $50 million. And what with NO cost bore by JKX .Now thats a company making deal by anyones standards ...And what with ground breaking advanced talks regarding the acquistion of Azeri acreage ( A country believed to have as much oil as lran ; and newly acquired fields in both the Ukraine At Elizavetovsko, which lies adjacent to the nationally owned Mashivske fields, and which according to my Alexander gas and connections, constitute one of the biggest gas condensate fields in the entire Ukraine: and what with diversification into Bulgaria with its long history of oil production: and phenomeanal potential production only hampered by reliance on antiquated mining infrastructure and the absence of modern Hi-Tec oil techniques and an inability to drill deep onshore and esp offshore wells. Problems which JKX can totally rectify , and in doing so make Bulgaria a rapidly expanding producer. .Futhurmore planned exploration planned in the Russias { following excelllent data from 2D seismic testing -and ironically once again a license held in the shadow of of yet another of BP s most prolific fields in which there exists a plethora of positive data in the form of a database which suggests JKX are yet again sitting on a highly commercial field . All in all l believe anyone who sells at pre 200p is making a mistake . After all Glencarrys persuaded Swiss Traders and Naftogaz ( both historically fanatical supporters of JKX -and still huge shareholders of JKX ever since 97 when Ramco made a rather cheeky attempt to buy the company have aquired a slice of the cake . ,,,And why ? lt is believed amomg those in the insustry they paid in excess of 180/90 pence per share . This entity called JKX is a totally different to the JKX of even 2003 and has emerged a lot stonger and with a great more leverage with its bankers and backers. Of that i am sure . . ..Bonne chance / sois sages , faires attention ,,,,,a'bientot .....@+ J ..

TFC: Enjoyed reading your post - as always, and the prospects for JKX sound really exciting; but the recent share dealing antics of 2 directors, including finance director Bruce Burrows, suggests otherwise.
3 directors acquired share options on 17th March and whilst CEO Paul Davies accumulated his, now holding 3.78M, the other two sold theirs immediately. Burrows sold 150k shares @ 150p (well below your suggested 200p minimum) about half his total holding (Sharescope details are ambiguous).
In the past, share dealings by Burrows has proved to be well timed, so I think this is one for the watch list rather than a prompt buy.
But do keep up the posts and I for one, will keep reading.
sd.

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.