JKX are a growth oil and gas company, principally based in the Ukraine, but also present in several other countries, and have recently presented some excellent results.




JKX corporate website : http://www.jkx.co.uk/index.cfm

Poltava Petroleum : http://www.ppc.net.ua/inf_en.html

Annual report 2005 : Click HERE

GF,

Ok will take a look, thanks.

Not impressed with JKX today. On a day when the markets are red due to the climbing oil price you would have thought that a company whose business involved oil might do wel....not drop over 2.5% :-(

queen1,

me neither, but we have had a good run, let's hope this is just a blip before we try and break the recent high.

Mmmm - let's hope.

Why all the sells ?

aldwickk,

Well I'm absolutely stagerred that the RNS today didn't have more of an effect on the price of JKX!

It makes you wonder if the whole market is asleep, they have just increased production by 33%, with such a hjigh oil price, and the price increases 2%!


JKX OIL & GAS PLC ANNOUNCES UKRAINIAN DRILLING UPDATE
JKX Oil & Gas plc (“JKX) announces that it has completed and tested Well
M152 as part of its ongoing drilling programme at Poltava, Ukraine. The well has
been tied back to the Company’s production facilities via an existing 6 km
flowline.

During testing, Well M152 flowed at a stabilised rate of 2,950 barrels of oil
per day and 2.4 million cubic feet of gas through a 40/64 choke, with a
wellhead flowing pressure of 1,550 psi. Well M152 is a horizontal development
well located in the northern part of the Molchanovskoye Field and was drilled
following the success of M150, which was completed in August 2004. Well M152
penetrated a total of 351m of gas and oil bearing Tournasian sands and is
producing from a 200m horizontal section in the oil leg.

The Skytop Brewster rig has now spudded Well M151, which is being drilled from
an adjacent surface location, and is expected to encounter a very similar
reservoir interval.

The testing of Well N70 in the Novo-Nikolaevskoye Field is nearly complete. To
date, three separate intervals have been tested with only one interval producing
hydrocarbons albeit at a sub-commercial rate; there remains one thin interval to
be tested in August. N70 was drilled in a crestal location in the field, up dip
of Well N9 which continues to produce approximately 500 bopd and 1MMscf. Studies
to better define the distribution of hydrocarbons in the structure are underway.
No reserves are yet attributed to the Novo-Nikolaevskoye Field.

In the Rudenkovskoye Field, the extended testing programme on Well R12 is
ongoing, and site preparation work has commenced for Well R101, the first new
well in the field.

JKX Oil & Gas plc is an exploration and production company listed on the London
Stock Exchange. The Company has license interests in Ukraine, Georgia, Russia,
Italy, Bulgaria, Turkey and the United States.


ENDS

For further information please contact:

Anthony Cardew / Sofia Rehman
Cardew Group
020 7930 0777

Andy,

I have only just seen that RNS, i sold all my shares last week at 147p when they started to fall back, but still keeping a few CFD's, i am thinking of buying back in now.

aldwickk,

bad luck, but I have felt for a couple of weeks that we were due news, and today it came along!

I liked this part of the RNS in particular;

--------------------------------
"The Skytop Brewster rig has now spudded Well M151, which is being drilled from
an adjacent surface location, and is expected to encounter a very similar
reservoir interval. "
--------------------------------

"The testing of Well N70 in the Novo-Nikolaevskoye Field is nearly complete. To
date, three separate intervals have been tested with only one interval producing
hydrocarbons albeit at a sub-commercial rate;.................................."

This is why there was a small reaction to the news.

This is a very unforgiving Market for failure so the fact it went up is good news in my book.

This is a very attractive stock imo and always has been.

KBC Peel Hunt Buy Note

I am in now..............

Hope for a quick rise when people start to take a bit more note of the well result.

SWW,

Whlst I agree the market doesn't like a failure, surely the positive mention of an increase in production of 33% due to a sucessful well, at the current high cost of oil, should mean something significant?

Good to see you are now in, cannot read the KPC note on this pc, will try on another tomorrow, but thanks for posting it.

Andy - the 33% is why I have bought in, I agree.

The note loads fine here so it must be a setting on your pc.

Bad day today...

wow................

Cant see why the drop yesterday.

It'll go back up sometime.

SWW,

Little boost already today, let's hope it simply reacted to a couple of late sells.

Unless there is bad news lurking somewhere, I couldn't see any justification for such a drop.

SWW,

141.25p MID price now.

Seen it thanks.

Nor could I but this one does move within a 40p band of late.

Can't say this one is not exciting...................

SWW,

White knuckle stuff the last couple of days for sure!

Nice recovery today though, maintains the long term uptrend, let's hope we consolidate at these levels for now.