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

good morning

JKX Oil & Gas PLC
22 August 2006




JKX OIL & GAS PLC ('JKX')

ANNOUNCES

GAS SALES AGREEMENT WITH SHELL IN UKRAINE


JKX Oil & Gas plc ('JKX') announces that its wholly owned Ukrainian subsidiary,
Poltava Petroleum Company ('PPC'), has concluded a Gas Sale and Purchase
Agreement ('GSA') with Shell Energy Ukraine for domestic delivery of a minimum
of 250 million cubic metres (8.75 billion cubic feet) of gas over a 12 month
period commencing September 2006 after an initial delivery in August 2006.

The GSA contains provisions to increase the gas delivered above the contracted
volume and to extend the term of the contract.

In June of this year, Shell signed a Joint Activity Agreement with the state oil
and gas company, Naftogaz of Ukraine ('NAK'), relating to exploration in the
Dneiper-Donetsk basin. Shell Energy Ukraine has also recently been granted a
natural gas trading licence by the National Energy Regulatory Commission of
Ukraine. Shell Energy Ukraine is the local operating business for Shell Energy
Europe, the European natural gas marketing business of Royal Dutch Shell plc.

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, Russia, Italy, Bulgaria, Turkey and the United States.

E N D


Press Enquiries: Anthony Cardew/Sofia Rehman
Cardew Group
020 7930 0777



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

kkeith2000,

Thanks for posting the RNS.

Interesting that the proce of the gas to be supplied is not quoted!

I wonder if it's at the normal Ukraine price?

And if it fixed or spot?

Morning all

I would hazard that it would be spot prices as what would be the benefit of the deal to JKX as they could get Ukraine prices anyhow.

Seems they have foreward sold just about all thier Gas production for the year???

All in all is it good news? or are Shell trying to get a strangle hold? they have just managed to take control of a further 5% of the domestic gas production?

Regards

Good Morning all

JKX Oil & Gas PLC
31 August 2006



FOR IMMEDIATE RELEASE

JKX OIL & GAS plc ('JKX')

ANNOUNCES

UKRAINIAN DRILLING UPDATE


JKX Oil & Gas plc ('JKX') announces that it has completed and tested Well M153
as part of its ongoing drilling programme at Poltava, Ukraine.


During testing, Well M153 flowed at a stabilised rate of 540 barrels of oil per
day and 0.9 million cubic feet of gas with a wellhead flowing pressure of 455
psi through a 45/64 inch choke. The well has been tied back to the Company's
production facility via an 8 km flowline.


M153 is a horizontal development well in the northern area of the Molchanovskoye
Field. It is designed to enhance recovery from the Devonian reservoir in the
area around the existing vertical Well M28. M28 will be re-completed to produce
from the overlying Tournasian sandstone later in the year.


The N75 rig has now moved back to the Rudenkovskoye Field where it will prepare
Well R101 for testing a 115m gas bearing interval between 4,095m and 4,210m
identified from mud logs.


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:

Sofia Rehman Cardew Group 020 7930 0777



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

I have decided to re enter these @2.91 and a few decimals.

Although the bottom is uncertain, I feel this must be close, add the interims soon, (anyone know the date?), and this may well be due a reversal.

SWW,

I sold out a while ago to preserve my first ten bagger, and I'm sure glad I did!

I cannot see what is driving the price down, interims are due soon, and I can't imagine they will contiain anything nasty, so shorting would be dangerous IMO.

Dont blame you Andy.

I know the mm's love people like me, but I did not like what I saw and sold again on the slight up turn last week.

Nothing wrong with the Company from what I see, like Hardman, I just cant understand this.

I want these, but I dont want the drop.

I may wait for a trend change, as I am with others.

I sold 30% friday and the rest today.

Amities / All oilies were given an awful larruping this morning with JKX shedding 6% in relatively thin trading and merely following a trend which began a few months ago . And what with most Ukranian stocks given a bashing with the introduction of a 60% corporation tax the economic climate is looking daunting for any company operating in this country .EG; CDL and UKR have both shed between 50% and 60%% respectively ln JKX s case the scenario is worsened by the dismal results of well M153 coupled with the fact they have fallen victim to the rotary count and as such cannot procure the best of modern rigs with their hi technology . As much as i like JKX i am a percentages player ,and like Andy, what with a ten bagger on my hands, l sold the bulk of my holding between 360 and 382 . The global oil problem will PERSIST, of course, but while hedge funds and major institutions continue to "short " oil in general, JKX will be at the mercy of shorting . it is pure folly to fight the trend of the market. The uncertanity is such that no-one dare venture to suggest at what point JKX will bottom out ...The malaise in the markets generally have induced me to hold in excess of 65% of my funds in cash .( usually i hold 10% at best ) Good luck to all ,.,...@+ J.................

...........plus a lot of stop loss positions being breached automatically @ 260 level thus exxagerating the fall . Down 18.75 thus far on the day ......

Good summary TFC

LONDON (AFX) - JKX Oil & Gas PLC said it has plugged and abandoned the first exploration well it drilled on the Zaplavskoye prospect in Ukraine after the hole turned out to be dry.

The well, known as Z1, 'did not encounter hydrocarbons' in the targeted Devonian reservoir, it said in a drilling update.

The group said it will now proceed with the drilling of well I125 in the Ignatovskoye field.

So that is the bad news that caused the drop for the past few days

Amities ..lndeed Hlyeo .So it would appear . Especially when you take into account the conssideration and expectations of Z1 . That and a number of other reasons. The drop started a couple of months ago @ 440p and noweven the absurdly low level various directors sold at seem credible with JKX sitting right on its last support level @ 255 before 200p is staring us in the face . There are still those in the city who believe Shell will make a bid if JKX sheds a little more weight. lt would seem logical ....lncidentally has anyone noticed the marked contrast in terms of time that it takes JKX to drill a well compared to its peers. .One cannot even blame the physical geography of the acreage. But when "deep water" oilers ( with all the additional inherrant problems that entails } are drilling at twice the speed of JKX it makes me wander what on earth JKX are drilling with ? ,,,,,a very sharp pencil perhaps.? a spade ?....

TFC, I have it on good authority that they are using a dentist's drill, which is handy because this comes with a very useful spray attachment should they be required to use water injection.

A quick fag packet calculation suggests that on the strength of production increased to 12,000 bopd, at the current P/E ratio of 18.8, this could be worth 311p a share. Alternatively the forward PE could be said to be 15 at current SP of 251p.

PE 18 seems expensive though, if the oil & gas market is going to continue to be uncertain.

I'm not in JKX at present, and would definitely be inclined to wait for more settled times (and the forthcoming results) before purchasing.

All IMO, based on hasty calculations, PDYOR.

I'm hearing I missed something with JKLX.

The introduction of 60% Corporation Tax from the Ukraine Government?

That if true could be what the problem is..........

I'll do some research unless someone has a handle on it all ready, please post here.

We would need to know what the old tax regime was compared to any new one to ascertain the effect on JKX.

Thanks

60%? If it's true, it makes you wonder why it's worth going into business at all.

KBC Peel Hunt on Oils

Encore looks undervalued.

Yes...i agree...Encore is a good BUY.