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

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.

So, which way's the wind going to blow tomorrow?! :-)

queen1,

Continuing in a strong northerly direction I hope!


This three year chart shows the uptrend quite clearly IMO.

Andy the trend at present is undeniable and thanks for the chart. It's just day-to-day the sp can be a little "choppy". Bad for the nerves you know!

Queen1,

Another down day, not sure what's going on here to be honest.

I can't keep up.

White knuckles in deed.

This article was posted by Archer over the road.
-----------------------------------------------------

Fat Prophets

21 July 2005

JKX Oil & Gas

Exploration update -

Up until recently JKX Oil & Gas (JKX) operated predominately in the Ukraine - an area where much success has been experienced. Encouragingly, JKX recently developed another successful well in the region. The group's decision to diversify interests into Turkey is also heartening, particularly given the new site's potential reserves.

We remain encouraged by JKX's drilling and exploration programme in Poltava, Ukraine. In the latest drilling update, well M152 in the Molchanovskoye Field tested at a rate of 2,950 barrels of oil per day (bopd) and 2.4 million cubic feet (Mcf) of gas. This follows on the heels of last year's success at well M150.

At the Novo-Nikolaevskoye Field, also in the Poltava region, testing of well N70 is nearly finished. Thus far results have not been encouraging, as only one sub-commercial rate has been encountered. JKX anticipate well N70's testing to be complete in August. In the meantime, the company has already begun studies to provide a greater insight into the field and potential targets. In the Rudenkovskoye Field, the testing programme continues while preliminary work has begun for a new well at the site.

We are excited by the potential offered by JKX's Elizavetovskoye (Eliza) license, also in the Ukraine, as well as the newly announced Karakilise onshore exploration licenses in south-eastern Turkey. Previous seismic studies have estimated gas resources within the Eliza license area to be as high as 50 billion cubic feet (8.3 million boe). The potential to develop reserves in Turkey by an additional 10 to 20 million barrels of oil, would result in a significant reserve upgrade due to JKX's 30 percent interest.

We believe that ongoing exploration and development activities along with strong oil and gas markets will continue to support long-term earnings growth at JKX. Considering the leverage that JKX has to rising energy prices, we believe that the prospective price earnings multiple of 13 times is undemanding.

Please note this is an abridged version of the full article that appears in this weeks Fat Prophets report.