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

JKX is little different from most of the other over-valued oil stocks. At the moment and for the last year or so oil stcks have been the equivalent of the dot com stocks. So many are valued in terms of the next well/discovery. This is going to end badly for most of the exploration companies adn their investors. There has been a correction in recent months, but I expect far more serious falls over the next year. Oil prices may well come down a lot more and if they do then quite a few companies will cease to be viable.

Andy, did you see the post on the BLR thread ref North sea gas

JKX Oil & Gas PLC
01 November 2006


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


JKX Oil & Gas plc ('JKX') announces that it has completed and tested Well I125
as part of its ongoing drilling programme at Poltava, Ukraine.

During testing, Well I125 flowed at a stabilised rate of 425 barrels of oil and
0.25 million cubic feet of gas through a 72/64 inch choke, with a wellhead
flowing pressure of 125 psi. The well has been tied back to the Company's
production facility via a 2 km flowline.

Well I125 is located on the southern flank of the Ignatovskoye field and is
completed in the Visean carbonate reservoir, which is oil bearing at this
location. Well I125 encountered secondary porosity zones in communication with
existing Well I123 and will accelerate recovery from the oil leg.

The Kremco rig has now spudded Well I126, which will drill a reefal feature
similar to the one successfully targeted by Well I124 earlier in the year.

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.


ENDS

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

425bbls/day through a 72/64ths choke and a wellhead pressure of 125psi.

Hardly world class is it and JKX are even now worth almost 1/2bln? You may have a point Haystack. Didn't appreciate until just now how poor the chart had looked in recent months either. Hmmm.

Sorry - on the chart, it's just reversed from the underside of the 26 week EMA. The 200day SMA seems to be rolling over too.

TAKEN FROM ADVFN

XenaWarriorPrincess - 8 Nov'06 - 21:42 - 3187 of 3187


Good to know that we are in safe hands when it comes to gas supplies.....

Gawd bless 'em all at Gazprom.........

http://www.themoscowtimes.com/stories/2006/11/09/002.html

"Last winter, a shortage of Russian supplies allowed Gazprom to meet only the minimum requirements of its European contracts, leading to shortfalls all around.

Growing demand at home means that Gazprom needs to develop new fields even if it meets its export commitments. Yet it has just started investing in the vast Yamal Peninsula now, 10 years after it was to begin production there. And its decision to go it alone at Shtokman -- a huge field located under the Barents Sea in extremely difficult conditions -- has prompted fears that development will be delayed there as well."

"Last winter, shortages struck three regions, including Moscow, and 1,945 Moscow enterprises were warned that they might be cut off. Electricity limits were eventually imposed on 604 of them.

This winter, 16 regions, including Moscow, are likely to face shortages, and 2,632 Moscow enterprises have been warned about cuts once the temperature drops to minus 15 degrees Celsius"

"Last month, Gazprom stopped insisting that it was producing enough gas to meet demand. It acknowledged that supplies were running dangerously low and called on the government to take urgent measures to stave off an energy crisis this winter.

"What we're looking at is three to five years of energy crisis,"

RNS!

Nice little prosuction increase.




LONDON (AFX) - JKX Oil & Gas PLC said the I126 well on the Poltava field in Ukraine flowed at at 1,850 barrels of oil and 3.25 mln cubic feet of gas per day during testing.

The well has been tied back to the company's production facility.

The Independant - The Investment Column: JKX Oil dogged by reserves uncertainty and price premium

Our view: Avoid

Share price: 298p (-9p)

"Annual results from JKX Oil & Gas yesterday made great reading for the group's shareholders. Both its profits and dividend doubled thanks to strong oil and gas prices. The bulk of the JKX's production is in the Ukraine. Although prices here are around half the level seen in Europe they are increasing at quite a pace which is great news for the FTSE 250 group. Last year alone domestic gas prices in the Ukraine rose by 55 per cent...........................However, not all is rosy at the company. It needs to replace its reserves which at the last count stood at just 44 million barrels of oil equivalent. JKX "

JKX Oil & Gas PLC said it has completed and tested the deeper of two hydrocarbon bearing intervals in Well R102 on the Rudenkovskoye Field at Poltava, Ukraine. The well -- the second new well to be drilled on the field -- has also been tied back to its production facility via a 4.5 km flowline.

Well R102 flowed at an average rate of 7.7 mln cu ft of gas, 90 bbls of condensate and 230 bbls of water per day.

Since drilling Well R102, JKX said the Skytop N75 rig has drilled and completed Well M160, which targeted a northerly extension to the Molchanovskoye field, with testing slated for next week.

New JKX article, CLICK HERE

Booming ahead again today!

What an amazing day for JKX. The stock market is plummeting, shares are in freefall and yet, admidst this sea of red, JKX is up 13.5%. Incredible!

quite right .... terrific performance .... also, to my total amazement, IEC were pretty solid too

Another good day:

JKX Oil & Gas plc ('JKX') announces that it has completed and tested Well M158 as part of its ongoing drilling programme at Poltava, Ukraine. The well has been tied back to the Company's production facility via a new 7 km flowline.

During testing Well M158 flowed at a stabilised rate of 1.3 million cubic feet of gas and 45 barrels of condensate per day with a wellhead flowing pressure of 230 psi through a 50/64 inch choke.

Well M158 is a vertical well in the northern area of the Molchanovskoye field. It was drilled to a depth of 2,669 metres and completed in 20 metres of Tournaisian carbonates and Tournaisian sandstones.

The Kremco 900 rig has been moved to the southern part of the Ignatovskoye Field, and is currently drilling Well I130 which is scheduled for completion next month.

JKX Oil & Gas said well M162 at its Poltava licence in Ukraine flowed 3.9 mln cubic feet of gas and 120 barrels of condensate per day in testing. The well, which was drilled as an appraisal to the northerly extension of the Molchanovskoye Field identified in Well M160, has been tied back to the company's production facility via a new flowline.

JKX said well M161, the first follow-up to the successful M160 which was completed in May, is awaiting acidisation. The Kremco rig is now drilling a further appraisal Well I130 to evaluate the potential for an extension northwards into the Ignatovskoye licence area.

JKX Oil & Gas reported weak H1 profits - MoneyAM


JKX Oil & Gas reported weak profits in the first half and stated that performance in the second half will be consistent with expectations.

Pretax profit in the six months to June fell to $55.7m from $56.4m, while net profit declined to $37.6m from $43.3m. Previous year's figures were flattered by a $15.2m reversal of a portion of an impairment provision against Ukrainian assets it booked in 1998.

Revenue grew 40% to $84.7m after a 20% rise in production to 13,008 barrels of oil equivalent per day.

Looking forward, CEO, Paul Davies, said: 'We expect the company's performance in the second half to be in line with the board's expectations.'

Nice results

All is still well here.
Most will look at the weak profits bit as a headline :-)))) lol

regards

Indeed the results were fine Dr Square and the falls have been well overdone.