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

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.

Still falling (currently 331p to buy) which I find a bit surprising. Maybe just profit taking & a few stop losses kicking in.
320p looks to be the chart support level. Could be slightly worrying if it falls below that level, but at some point should be a good buying opportunity, imo.

Nicely back up today against a falling market.

JKX Oil & Gas said it has completed and tested Well I129 as part of its continuing drilling programme at Poltava in Ukraine. The well flowed at an average rate of 4.6 million cubic feet of gas and 180 barrels of condensate per day, the group said.

The well targeted a separate fault block to the northwest of the successful Well I128, which was completed in August. The Skytop 75 rig is now drilling well I131, an appraisal well of the Molchanovskoye Tournasian carbonate discovery, the company added.

Anyone have any ideas why JKX seems to be falling off a cliff these last few days?

many of the oil stocks have been having a bad time these last few days for no entirely obvious reason, and i'm not talking about the minnows in whom i have no real interest ....... JKX has the additional burden of working in russia which adds further volatility ..... POG, though a miner, has suffered similarly, though showed some late recovery today

Morning

Well if its not Blue today something is wrong ! With the Dow and oil up overnight.

Regards

jkx is in ukraine, NOT russia.

also beware any share that cynic is interested in...........it usually plummets!!!!!!

thankfully i bought and sold and made a nice gain on this some months ago

prick! ..... whether based in russia itself or fsu, there is enhanced risk for much the same reasons ...... in fact, i dare say if you followed my advice a bit more, whether to buy or short or just avoid, you may have done rather better for yourself ...... did you short NRK or SOLA as suggested? ..... did you buy SCHE, TAN, PFC, IEC, POG as/when suggested, and to name but a few? ...... have you traded the indices as suggested? ..... all these, and others, have done very well, though i own up (unlike you) to blunders as well.

resorting to abuse now! u r obviously losing lots esp on lead etc, haha, serves u right

LEAD i sensibly cut my losses, and unlike you, i admit my blunders and/or greed

if u read other threads u will see that i hold losses.

never mind, just another 5 million posts left for you today on this and other threrads

do u ever sleep?
r u an illegal immigrant? lol

no, but my grandparents were effectively refugees in early years of 20th century and one of my uncles was the only survivor of his family of 14 from the last war

Scotinvester, wrote. beware any share that cynic is interested in...........it usually plummets!!!!!!

Only when his gone short .......lol

Well, none of that helps with the problem of a rapidly falling sp here.
Maybe it was something to do with:
"LONDON (Thomson Financial) 09/10/07 - JKX Oil & Gas PLC said it is plugging and abandoning the Golitza-1 exploration well, onshore Bulgaria, as the logs indicated that all three objective horizons in the Jurassic and Triassi do not bear hydrocarbons."
Still, up 5% this morning, so not all bad.