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

Yep Very nice finish Andy

Shorters nightmare.

Through the 4 barrier ! now it settled for a while just above this level? I hope it can kick on from here. My bet is it can as news is due on drilling ? and we have the political postering never mind the internal reform of the energy industry to consider.

I considered a possiblity for JKX to sell its oil / gas abroad at international prices and for the Ukrain goverment to place a heavy tax on it, the goverment then purchase gas from other sources at a lesser rate. could this work ? As it seems possible economically.

Hope you managed to have some proper Guinness Andy.

Regards

Dr Square,

With the drilling news seemingly imminent, I hope the price can remain above the 400p level, and the political posturing may go on for some time, so unless there is some bad news released somewhere, I hope we will establish a base at the current price.

With regards to taxation and exporting oil and gas, the scenario you speculate on could indeed become a possibility, as they could utilise the increase in taxation to subsidise the imported oil and gas.

I hope their Chancellor doesn't read Moneyam!

I did indeed manage a few samples of "proper Guinness", and they were excellent!

JKX not holding on...very volatile...drifting down

hlyeo98,

As indeed are many oil and gas stocks, something to do with the decreasing value of the US $ v other currencies I believe.

JKX have again increased production, and with drilling news awaited during June, on well R101 at least, I feel JKX are in a good position at present.

JKX Oil & Gas PLC
01 June 2006



JKX Oil & Gas plc

Notification of Interim Results


JKX Oil & Gas plc will be announcing its Interim Results for the six months
ended 30 June 2006 on Tuesday, 26 September 2006.


For further information please contact:

Sofia Rehman, Cardew Group Tel: 020 7930 0777


This information is provided by RNS
The company news service from the London Stock Exchange

Evening Andy / All

Have I got this right JKX got an average of $1.82 for a thousand cubic feet of gas last year.

Gasprom are currently selling at $95 per cubic meter.

That would make JKX got in effect $65 per cubic meter last year.

Is my conversion accurate? anyone

I ask because the domestic rate has been set at $83 from June.

Domestic rate

Regards

A lot of confusing information and no coalition ?


City sues Gas company


Ukraine paying up


Ukraine can handle world gas prices?

Regards

Dr Square,

I agree, some very confusing messages being sent out by all sides.

JKX has risen nicely over the past few days, with good volume, and I wonder why?

I have been expecting news form R101 for a while now, and then there is a takeover rumour in the market apparently!

I picked this up on ADVFN;


http://business.guardian.co.uk/marketforces/story/0,,1801946,00.html

..."Oil prices climbed back towards $70 a barrel.

Another exploration group, JKX Oil & Gas, rose 30.5p to 404p after it emerged that major shareholder Glengary Overseas, which represents a group of Russian investors, increased its stake to more than 26% by buying the 9.7% owned by another major holder, Benam Holdings. Glengary first bought 16.7% in October 2004, and traders were hoping this new move presaged a full takeover bid."

cheers Andy

price will go up???

end game

To add that Ukraine have raised thier domestic price again $109 domestic $137 for industry ouch!

How much did JKX get last year for its gas?????????

Regards

Dr Square,

From the 2005 annual report;

"Average realisations for gas in the period rose by 14% to $1.82 per Mcf ($1.59
per Mcf), with all gas being sold into the domestic market. The price of gas in
the Ukrainian market has increased by more than 50% in the first quarter of this
year, as a result of the recent negotiations between Russia and Ukraine on the
price of all Gasprom and central Asian gas being supplied to Ukraine from/via
Russia. We anticipate a continuing upward pressure on gas prices through the
year".

Dr Square,

From your articles;

"The United States and Europe have expressed concerns about the terms of the agreement and its lack of transparency, but it appears unlikely that Tymoshenko will be able to revise the deal without jeopardizing the current price of $95 per 1,000 cubic meters, or 35,000 cubic feet, of gas, compared with $50 before. Under the terms of the compromise reached in January, the price could rise as soon as next month, and Russia's gas monopoly, Gazprom, has vowed to seek further increases"


So we have MCF and 1,000 cubic metres, so hard to compare the two!

if I can find the annual report tomorrow, i'll check it out.

Andy,

I bought back in on friday @ 386 after that little bit of profit taking.

aldwickk,

Well done!

i feel we may be ready for another run, partly because we are overdue news on R101, and possibly other smaller wells, and now we may have an interested party!

Aldwickk,

I picked up this from ADVFN, TDW have posted this about JKX.


------------------------------------------
20 June 2006


JKX Oil & Gas

Well drilled outfit -

JKX Oil & Gas (JKX) followed up a robust full year results announcement in March with an encouraging drilling update last month. We remain steadfast of the view that the ongoing development of the Poltava licences will be integral to the company's long-term success. Whilst oil prices have been volatile of late, we remain confident of a long-term bull market in energy. We expect JKX to flourish in such an environment.

The Ukraine remains the focal point of production and investment for JKX. The drilling programme at the Poltava licences is now accelerating following the addition of a second drilling rig at the start of the year. In May, JKX reported positive drilling results and the completion of two further development wells on the Ignatovskoye and Molchanovskoye fields respectively. As a result current production rates have risen above 12,000 barrels of oil equivalent per day.




We took great encouragement from the Chairman's comments from the recent AGM. He reaffirmed this year's objectives are to lift production, whilst using a robust balance sheet and strong cash flows to pursue additions to the reserve base. Open license auctions recently introduced in the Ukraine should facilitate this outcome.

Last year JKX expanded its horizons to Turkey and Bulgaria, and it seems further geographical diversification is on the agenda. Specifically management are evaluating onshore opportunities in Russia.

Expanding abroad will offer more balance to earnings, however we believe the Ukrainian region will continue to offer the greatest potential. There is currently some political uncertainty however with no governing coalition since March's election. Once this is resolved, further privatisation of the local oil and gas sector will likely boost JKX's position in the region.

We are expecting further earnings out-performance from JKX. Exploration and development is ramping up, and will likely translate into further production and reserve upgrades. We expect JKX will not only benefit from a reassertion of the uptrend in energy prices globally, but also from higher localised gas prices in the Ukraine on the back of market liberalisation there.

The company's valuation is undemanding with a forward price earnings multiple of just 13 times. With our long term forecast for oil to push above US$100, we believe that JKX retains the potential for additional gains. The prospect of further corporate activity may also spur a re-rating. Yesterday it was revealed that Glengary Overseas Limited (an entity acting for an as yet to be identified Russian investor) has increased its stake from 16.17% to 25.88%.

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

Apart from the fact we are still dealing with very skittish markets where almost anything can happen, I concur that JKX is an excellent company and arguably even more interesting since Glengary increased their stake significantly ..... However, it is more than a little bold for FP to predict crude at $100, though he is wise enough not to say whether "in the long term" includes or even implies beyond his lifetime!

cynic,

RNS!

101 has been placed into production!


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JKX Oil & Gas PLC
29 June 2006


JKX OIL & GAS plc ('JKX')
ANNOUNCES
UKRAINIAN DRILLING UPDATE


JKX Oil & Gas plc ('JKX') announces that it has completed and tested Well I101
as part of its ongoing drilling programme at Poltava, Ukraine. The well has been
tied back to the Company's production facility via an existing 6 km flowline.

During testing, Well I101 flowed at a stabilised rate of 375 barrels of oil per
day and 3.7 million cubic feet of gas through a 20/64 inch choke, with a
wellhead flowing pressure of 2,130 psi.

Well I101 was the first onshore well drilled by JKX in Ukraine in 1995. It
penetrated a small oil accumulation in the Tournasian sands about 5 km from the
main Ignatovskoye field. The well was never placed on production due to problems
with the completion, The Kremco 900 rig re-entered the well in late April this
year and sidetracked it to a slightly up-dip location. The well penetrated
approximately 15m of oil bearing sandstones. Drilling was halted above the oil/
water contact to minimise water production.

The Kremco 900 rig has now moved to the Zaplavskoye license where it is drilling
an exploration well.

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.


END



For further information please contact:

Anthony Cardew/Sofia Rehman Cardew Group 020 7930 0777



This information is provided by RNS
The company news service from the London Stock Exchange

And then we have the not so good news!

R101 not performing as hoped, I wondered why the price is dropping.


JKX Oil & Gas PLC
29 June 2006



JKX OIL & GAS PLC

ANNOUNCES

UKRAINIAN WELL TESTING UPDATE


JKX Oil & Gas plc ('JKX') announces that it has commenced testing Well R101 in
the north of the Rudenkovskoye Field at Poltava, Ukraine.

Well R101 was spudded by the N75 rig in October 2005 and suspended at a depth of
4,570m in January 2006 after encountering significantly higher than expected
pressures in the lower section. It was decided to isolate the lower section and
test the upper Visean and Tournasian formations only. The N75 rig returned to
the well in May of this year to install a high strength casing string and
prepare the well for testing. The underlying high pressure Devonian formations
are planned to be investigated with a new deeper well to be drilled by a larger
rig.

Two gas bearing intervals were identified from mud logs within the Tournasian
sandstones. A gas bearing interval of 119m located between 4,330m and 4,449m has
now been perforated using tubing conveyed guns. The well flowed at an initial
rate of 1 million cubic feet of gas per day with a wellhead flowing pressure of
1,400 psi. This declined to a rate of 0.3 million cubic feet of gas per day with
a wellhead flowing pressure of 300 psi over the 4-day test period. Pressure data
indicate that the reservoir permeability of this interval is low. The second
115m gas bearing interval between 4,095m and 4,210m is scheduled for testing in
late August/September when the N75 rig completes the drilling of development
Wells M155 and M153 in the northern part of the Molchanovskoye Field.

A number of further gas bearing intervals totalling up to 59m has been
identified from mud logs in the Visean sandstones at depths between 3,443m and
4,082m. Scheduling of the investigation of these shallower intervals is
dependent on results of the Tournasian sandstone test programme. Fracture
stimulation is also being considered as a supplement to the planned test
programmes.

Well R12 in the south of the Rudenkovskoye Field continues to be productive from
Devonian sands between 3,400m and 3,500m.

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


ENDS


For further information please contact:

Anthony Cardew/Sofia Rehman Cardew Group 020 7930 0777

And this really is good news!

Thus will triple the price JKX receives for it's gas for that gas exported via the link I believe.



JKX Oil & Gas PLC
29 June 2006



JKX OIL & GAS plc


ANNOUNCES


GAS PIPELINE TIE-IN APPROVAL


JKX Oil & Gas plc ('JKX') announces that it has received formal approval to
tie-in its production facilities at Poltava, Ukraine to the Soyuz main gas
trunkline. It is estimated that construction/tie-in of the pipeline spur and
procurement and installation of the required metering package will be completed
in the first half of 2007 at a cost of $5 million.


The Company is currently restricted in delivery of gas to market from its
Poltava field facilities to approximately 36 million cubic feet of gas per day.
It has been seeking over the last two years to secure additional gas export
capacity from its licences and has engineered alternative field export routes
including tieing-in to the 56-inch diameter Soyuz pipeline.


The Soyuz pipeline is one of the main gas trunkline systems delivering gas from
Russia to western Europe. The line traverses the Company's licenses
approximately 2.5 km from its field facilities. Tie-in to this major trunkline
will effectively remove any ceiling on gas delivery from the Company's Poltava
licences.


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


END


For further information please contact:

Anthony Cardew/Sofia Rehman Cardew Group 020 7930 0777




This information is provided by RNS
The company news service from the London Stock Exchange

Cynic,

I believe this is the pertinent piece form the last RNS!



"The Soyuz pipeline is one of the main gas trunkline systems delivering gas from
Russia to western Europe. The line traverses the Company's licenses
approximately 2.5 km from its field facilities.


Tie-in to this major trunkline will effectively remove any ceiling on gas delivery from the Company's Poltava licences."

The TDW article says Glengary was acting for a Russian invester but JKX said that they were acting for Russian investers, my not mean all that much.