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

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.

If youve had a good day please consider giving a donation to the lads dressed as Elvis racing 350 miles to the North Pole on behalf of Great Ormond Street Hospital It makes the London Marathon seem like a stroll in the park!
To donate or view how theyre getting on visit
http://www.elvispolarchallenge.co.uk/
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

cynic,

You may well be right.

The 2005 annual rpeort landed on my doormat this morning, and it's a lot thicker than last year, and a very interesting read!

Having read it, I can see why the price has risen, as there are a lot of exploration and re-works going on this year, on all fronts.

In addition, they seem on the cusp of exporting gas from the Ukraine, and thus finally achieving international prices, around 3x the local price.

Italian production is scheduled for 2007 on the 100% owned Civita permit, again at international prices, subject to aproval by the regulatory authorities.

All in all the report is very positive, and I think we will see another year of growth for JKX in 2006, IMO.

TFC,

Did you know well N70 has been producing since January 2006?

Only 0.5 mmcfd, but production is production, and this is NEW production!

Evening all

Ukraine showing the signs of stress

Looks like it is either going to have to be passed on to the consumer. Or Gasprom will reduce the cost of imports. Or the EU will have to bail ukraine out a bit. I have a fair Idea which one will not be happening.

Any holes in my logic

regards

if unrest or similar continues in Ukraine and similar, then would not be at surprised to see profit-takers moving in on JKX ..... Having taken a decent profit on these just the other day (21st April - see above), then I shall be dlighted and see it as a buying opportunity.

Meanwhile, I reiterate my BUY posture for BUR .... and yes, I am already a holder

I think it is good opportunity to buy in today on pullback...now 409p