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

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

Cynic,

I see what you mean, in fact we look above the bollinger!

Presumably if the price continues to rise, the bollingers will simply expand more to accomodate it?

Thanks Andy ..... Did not know Bollingers were visible here (I am a poor newbie!) ..... I also do not know how they work, but presumably if the price continues to rise, the banding changes to some degree.

cynic,

Well the price DID rise further!

And the bollingers haven't moved yet.

Today was very encouraging, a 5% rise WITH VOLUME!

2,059,000 shares traded, over 8 million in value, quite impressive IMO!

There had been bid rumours not so long ago , JKX going up did not help CDL down 1p today.

Aldwickk,

Well they are two totally different companies that both happen to extract oil and gas in the Ukraine, and there the similarity ends IMO.

An explanation of JKX's rise today, courtesy of Banj over the road.


JKX Oil & Gas;Exposure To Oil Price Bolsters

Wednesday, April 19, 2006 9:14:50 AM ET
Dow Jones Newswires

http://www.newratings.com/analyst_news/article_1253440.html


1158 GMT [Dow Jones] JKX Oil & Gas (JKX.LN) tops the FTSE 250 leaderboard, +2.5% at 328.25p(edit: sic). Analysts say the stock is gleaning support from the continued push higher for the oil market, given its high exposure to oil prices. The stock has climbed from 302p at the end of March. Also, one reckons the approach of production updates for a number of key wells has been helping prompt buying. (DWE)

i agree ...Producers all going up yet pure Expos are not enjoying the same degree of success. There are always exceptions to the rule like EEL and AFR but considering the drilling rights alone cost billions in a j/v with Chevron it is hardly surprising ...................... ..As for JKX . Sitting on a spike .Very scarey thin trading this past two days moved the stock over 40p ! .....And indeed the aproach of updates on key wells looms ..............What key wells ? We only have two rigs . Two rigs equals to two wells and one of those spudded by JKX i suspect will be a duster ( Like all its brother wells ) and the other remains to be seen; but from what i hear its a half decent strike . Mostly gas . But with an oil leg whose access is proving extremely difficult despite arrival of specialist equipment But if they gain said access through to a new petrochemical resavoir all will glitter in the garden of JKX ,,,,+@ J .......

Just for the record, average trades are about 700k so 2m is quite heady stuff though not totally mind-blowing

TFC,

Interesting post, and I think there is a combination of a rerating going on, and maybe the anticipation of some good well news.

Intersted in your coments re the new gas, possible oil field, you seem well linformed! To be honest, I was wondering what was causing the delay.

I agree with Cynic, I personally think the volume has been good over the last few days, and 8 million value traded is not a bad day's trading surely?

Looks like JKX will be touching 450p tomorrow

hyleo,

Shhh! let's not tempt fate!

Currently JKX is 21.5p up today, quite extraordinary, and obviously very pleasing for holders.

The volume is over 500,00 shares traded already, so over 2 million in value today already.

I believe the annual report was mailed this week, and was thicker than normal, so there may well be information within that is increasing the interest here.

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thanks for your time

Though there is no denying that JKX is a cracking share, all the charts (for what it is worth) indicate that this may now be the time for a pause, not least because sp has risen about 1.00 in little more than a week.

For myself, I have decided to bank a very healthy profit, but i am quite sure i shall be buying back in in due course

as an alternative, i would have no hesitation in suggesting Burren Oil (BUR), which is another excellently managed company which consistently beats forecasts ..... Furthermore, it is currently just over 1 off its 52-week high, for no good reason ..... indeed, it has recently had a broker upgrade