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

Come on Cynic

Say what you feel instead of pussyfooting around lol

i would seriously doubt that he personally pocketed the dosh, but strongly suspect he got gulled at the other end

Sp starting to knock on the 300p door again...perhaps this time it might get through and climb rapidly...

Punctured a good hole in the 3 mark...starting to climb slowly upwards.

Sell JKX... Ukraine is going to have political unrest with Yuliya's faction likely to protest against the voting results.

Nice rise the last couple of days which thankfully, I managed to clamber on to.

You just never know what's round the next corner! Sp down 12%:

StockMarketWire.com
JKX Oil & Gas's Ukrainian operating subsidiary, Poltava Petroleum Co, will face a substantial increase in unified production related taxes under new tax codes which came into effect from 1st January.

JKX said had sought clarification and advice from Ukrainian tax experts regarding the expected impact of the changes on PPC.

JKX said: "Whilst the detailed effect is yet to be clarified, it is apparent that PPC will be subject to a substantial increase in unified production related taxes albeit that this will be partially mitigated by a progressive reduction in the rate of corporate tax from the current level of 25% to 16% by 2014.

"The overall impact of these changes is anticipated to be an immediate increase in PPC's effective tax rate from approximately 30% to approximately 50%."

JKX says the effect at group level will be reduced by the introduction of production and revenues from JKX's Russian subsidiary, Yuzhgazenergie.

JKX says it is also exploring other options to ameliorate the impact of the tax changes in Ukraine.

Not in....but might have been....not one of my favourites anymore....interesting that CAD have not dropped but work in the same part of the world....

Long (SB) @ 291.4 Tight stop

Stop to entry for risk free trade.

Keeps sneaking up. Can it last? Full year results 31st March, Final Ex-Divi 20th April.

JKX Oil & Gas output down 21.7%

JKX Oil & Gas production fell by 21.7% to 8,910 barrels of oil equivalent per day in the first quarter.

Gas output fell 14.2% while oil production was down by 38.0%.

But the group says output is currently over 11,000 boepd.

CEO Dr Paul Davies, said successful drilling programme had improved the base production level in Ukraine and good progress had been made on the final phases of its Russian redevelopment project which remains on schedule for an autumn start-up.

He added: "The LPG facility components have been delivered on-site in Ukraine and hook-up and commissioning are on-track for a mid-year start-up.

"Exploration discovery of a new reservoir in Ukraine has opened up the possibility of additional reserves within the current field complex.

"We are benefiting from strong international oil prices and rising Ukrainian gas prices which are both having a positive impact on group cash flow."

Recent poor production has taken a toll on JKX... 247p now.

A court in the Ukrainian capital Kiev has arrested former Prime Minister, Yulia Tymoshenko for violations of court procedure during her abuse-of-power trial.

She is charged with abusing her power as a prime minister by signing a natural gas import contract with Russia in 2009. Prosecutors claim the deal was disadvantageous to Ukraine.

Acting on a judge's orders, Ukrainian police arrested former Prime Minister Yulia Tymoshenko during her abuse-of-office trial on Friday for violations of court procedures.

She refused to rise when addressing the court, as required, and routinely insulted the judge.

Her supporters both in and outside the court, including national lawmakers, squabbled with riot police, trying to prevent them from driving her away in a prison car. Meanwhile, Tymoshenko's party has threatened to mobilise its supporters and call street protests.

Tymoshenko insists she is innocent, arguing that the contract signing in 2009 with Russia ended weeks of natural gas supply disruptions to Ukrainian and European consumers.

She has criticized the trial as an attempt by President Viktor Yanukovych to bar her from upcoming elections.

Tymoshenko was the central figure in Ukraine's 2004 Orange Revolution,which threw out Yanukovych's fraud-tainted victory in a presidential election and led to another vote that brought a pro-Western government to power.

Tymoshenko became prime minister, but the Ukrainians grew frustrated by economic hardships, slow reforms and endless bickering in the Orange camp.

And in the 2010 presidential election she lost to Yanukovych.

The Russian Foreign Ministry has called on Kiev to guarantee her an unbiased trial.It has stressed that all agreements about gas supply made in 2009 had been signed in strict accordance with national laws of Russia and Ukraine, as well as relevant international laws.

Not impressive... profit, EPS, cash flow and production all down... and no dividend now.


31 AUGUST 2011

JKX Oil & Gas plc

("JKX" or the "Company")

HALF-YEARLY RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2011

Key Financials
Revenue up 3% to $107.8m (2010: $104.5m)

Production based taxes increase to $33.0m (2010: $2.6m)

Operating costs reduced by 27% to $9.0m (2010: $12.3m)

Profit before tax: $32.7m (2010: $49.1m)

Earnings per share: 14.0 cents (2010: 20.7 cents)

Operating cash flow: $58.9m (2010: $67.2m)

Capital expenditure up 48% to $101.0m (2010: $68.3m)

Cash resources: $63.6m (2010: $107.2m)

Total borrowings: $58.9m (2010: Nil)

Interim dividend passed


Operational Highlights

Average production of 9,476 boepd (2010: 11,689 boepd)

LPG project in Ukraine completed on schedule and on budget

Koshekhablskoye construction project nearing completion

Progress made on the Group's exploration programmes in Ukraine and Hungary


Outlook

Russian production now scheduled to come on-stream by year-end

Testing of initial Callovian appraisal well in Russia

On-going Ukrainian development drilling with exploration drilling on Zaplavskoye licence extension

Contract award of Rudenkovskoye multi-frac operation in Ukraine

Appraisal drilling on Tiszavasvari gas condensate discovery in Hungary



JKX Chief Executive, Dr Paul Davies, commented:

"We have delivered a solid operating performance in the first half of the year while striving to complete our large Russian redevelopment project. Despite schedule delays, we anticipate production in Russia commencing by the year-end. We have achieved a key milestone in starting-up LPG production in Ukraine on schedule and on budget. Higher taxation in Ukraine this year and increased Russian project costs are impacting cash flow and the Board believes it is prudent to forgo a dividend payment at the interim stage.

We expect our earnings for the year to be in line with expectations, and remain committed to delivering long term value for our shareholders."

Sell JKX now at 172p as Ukraine is having a dispute with Russia on gas price

Bit of a punt on this one SBet @ 162.0 Tgt 180.0 tight stop.

Not the best update today 3% down on last year, at least it didn't tank but then volume was crxp. Still in with tight stop.

I hope you have got out of this, Chris.

Well out hlyeo, 154.0 - 8, sp been hammered.