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

I think the end of tax year in the UK could be a major factor in the decision of directors to exercise and sell option shares now. I have done the same myself in similar circumstances. It does not necessarily mean there are are any problems - after all the directors still have substantial shares and options untouched.

All IMHO, WDIK, PDYOR.

camlad

TFC,

A good point,but they have just announced results, so surely they may have been in a closed period before, and therefore this was the earliest they could sell?

And the end of the tax year MAY be another reason, as stated above.

Also, with the Ukraine election outcome uncertain, maybe they sold a few just in case the new regime cosies up to Putin and renegotiates a lower gas price?

To be honest, if I was in their shoes, I would want to turn some shares into cash just to diversify my investments and lessen risk.

Their selling doesn't cause me any concern personally, I think I would probably do the same in their position, and unless it would leave them totally without any holdings, I am not unduly worried.

This was posted on the otherside,

Naftogas owns 10% or so of the shares in JKX. Could the threat of their bankruptcy, or a possible forced sale of the shares be one reason for the recent weakness in JKX's share price?

aldwickk,

Interesting post, and you may well be right there.

aldwickk,

Interesting post, and you may well be right there.

Up 23p this morning, been on quite a bull run since Tuesday too, when it was around 311.

soul,

yes not sure why we have risen so quickly, on no news, but it's a nice finish to the week!

Maybe some new tax year buying?

Soul,

Well a 10% rise on the day, and no news!

Oil sector went wild today. virtually everything I follow is up!

Sounds like you picked well, Andy. My NOP is up, however VOG is languishing pending news in May and BLR experiencing stormy weather while waiting for news from Colombia. Are you still in BLR?

Soul,

No I have never held BLR, although I have checked them out from time to time.

VOG is, IMHO, a speculation, and I wouldn't buy at the current price, but if I had bought lower down I would hold with a tightish stop. Without any news expected in the near future, I would think the price may drift.

I wonder why JKX shot up so much today?

Although the oil and gas sector had an excellent day, JKX' rise is far higher then the average that I have seen.

Thanks Andy.

FYI Today's Independent commented something about JKX having lagged the sector the past few weeks, which is true, as many others have shot up while this has just hung around. So maybe it was due to make up for lost time. I don't follow this closely enough to be in any way conclusive about it. NOP, though: could we be about to see "JKX - PART II: This time it's personal" ??? Portfolio-wise it's a strong contender, IMO.

I beg to differ re VOG - news is expected in April and May on three major bits of drilling and since I've bet the farm on this one over the last few months I'm sincerely hoping it will be encouraging. In any case, my view is sufficiently long-term that I'm inclined to take a philosophical view of any dips.

Soul,

On another bb, apparently some newspaper made a comment about "vague takeover rumours" for JKX, so that may expleain some of the rise.

I certainly hope VOG does well for you, I wouldn't buy at the current price, but for anyone already holding, it looks like an exciting opportunity.

I will take a look at NOP.

more vague takeover rumours? There's a lot of it about: two weeks ago it was NOP, and yesterday BLVN as per your post on the SEY thread!! Pinch of salt, etc. . . .

If someone wanted to make a bid they could have picked up a lot of cheap stock these last few weeks at around 307p.

Soul,

Yes there is expected to be some consolidation in the oil and gas sector, so that is probably where the rumours have started to eminate from.

The JKX comment was in the Independent or Telegraph I believe, and SEY was mentioned in the FT.

JKX breaches 400p - the word "unstoppable" comes to mind. Kicking myself for never buying this, but it's fun to watch all the same.

Something brewing good in JKX...now 401p.

There was a press comment perhaps a week or so ago which pointed out that JKX was undervalued and had a most undemanding p/e of about 12 ..... To my mind, it is this realisation that has triggered the recent interest and rise ...... I suspect that even at 400 the p/e is still pretty low, so worth investigating further ..... I already have these and am happy to stay with them.

cynic,

I read that too, and you may well be right in that the article has proved the catalyst for this rise.

I hope we can hold above 400p, as it could become support for the next rise.

I have no expertise in chart (as opposed to Chartist!) matters, but I think 400 is little more than a convenient round-figure resistance/support ...... Also, by the looks of it, 400 is the very top of the Bollinger Bands, if one follows those rather than MDAs