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

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.

Sp about to turnaround for an old favourite it seems !.....graph looking a bit better....

Must be due rf, waiting for over 160.0 first myself.

At a guess, this should rise a lot further now with russian gas sales coming on line....

StockMarketWire.com
JKX Oil & Gas subsidiary Yuzhgazenergy has signed a sales agreement with Kubangazifikatziya for all the gas produced from the Koshekhablskoye field in southern Russia this year.

Kubangazifikatziya is a large Krasnodar-based gas trading company which has been active in the wholesale supply of gas and LPG products since 2008.

Its industrial clients in the Krasnodar region include Gazprom Mezhregiongaz and the Afipskiy Oil Refinery.

Kubangazifikatziya will take delivery of gas from the Koshekhablskoye field at the export flange and will be responsible for transport through the Gazprom pipeline network to end users.

JKX will start deliveries shortly after receiving its 'permit to operate' from the Russian authorities in Moscow.

Bebe jkx is rising...lovely.....(grave tone).....surprising what a crude rise does for one.....

Stop raised to 180.0 to lock in + 20

Have a Buy Order waiting (on the spreads) @ 102.0. May have a long wait!

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Nice wee bounce today, probably living in hope, if order triggered target 120.

Order triggered, hoping current resistance 110.0 will be breached tomorrow, if not will get out quick. Would sooner attempt to trade dead cat bounces in stocks than the casino that are indeces at mo :O)

Stop to entry for risk free trade.

Target hit (Limit) and out for now. Golfing today so happy, review tomorrow :O)

Back in long today on the spreads @ 110.9 initial target 130.0

Added today @ 95.0 (gulp)

JKX Oil & Gas plc

('JKX' or the 'Company')

HALF-YEARLY RESULTS

FOR

THE SIX MONTHS ENDED 30 JUNE 2012





Key Financials



· Revenue: $103.0m (2011: $107.8m)

· Operating profit*: $31.3m (2011: $32.9m)

· Operating costs*: $58.3m (2011: $64.6m)

· Production based taxes: $24.6m (2011: $33.0m)

· Earnings per share*: 12.05 cents (2011: 14.00 cents)

· Operating cash flow: $60.0m (2011: $58.9m)

· Capital expenditure: $45.6m (2011: $101.0m)

· Cash resources: $20.3m (2H 2011: $28.9m)

*underlying figures before exceptional item of $30.7m non-cash accelerated depreciation charge against Ukrainian assets



Operational Highlights



· Average production of 7,481 boepd (2011: 9,476 boepd)

· Completion of Russian gas plant, receipt of Permit to Operate and initiation of gas sales

· Award of Giorgievskoye exploration licence in Adygea, southern Russia

· Successful exploration well in Zaplavskoye exploration licence, Ukraine

· Commencement of production from Elizavetovskoye licence, Ukraine, and sanctioning of stand-alone development

· Award of contract for multi-stage frac for Rudenkovskoye field in Ukraine