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

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

This has been a disaster trade, if it drops below 80.0 will bite the bullet and get out. Nothing wrong with the company just needs to pull it's finger out and produce, trying to catch a falling knife at the mo.

Things starting to look a lot better here......reckon the sp will go back above 100p with increased gas and oil production and a very, very... small market cap......!...

Probably another Kamikaze trade but what the hell, long on the spreads @ 78.9 risking 10 pips stop @ 68.9.

Ditto...sort of....promise of 10000 bbls pd..(gas and oil)...with.... market cap 130 million ????

Stop to entry for risk free trade.

Just joined you here Chris.

Stopped out for nowt yonks ago skinny, have a limit buy waiting @ 86.0 though.

JKX running out of money... offering bonds

JKX OIL & GAS plc ("JKX")



ANNOUNCEMENT OF

UKRAINIAN RIG REMOBILISATION





JKX Oil & Gas plc ("JKX") announces that it is restarting its in-field drilling and appraisal programme on the Novo-Nikolaevskoye Complex in March. The Skytop N75 rig will initially be mobilised to the Molchanovskoye field for a horizontal recompletion of the M-166 Devonian sandstone oil producing well.



The Skytop rig is scheduled to move to the Elizavetovskoye licence in June to spud the first of a planned 5-well development drilling programme. Drilling is also planned in 2013 on the Zaplavskoye licence, following completion of processing and interpretation of the 2012 additional 3D seismic data.



The Skytop rig is currently completing a one-well programme for another Ukrainian operator which is expected to complete later this month. The rig, which has been on long-term contract to the Company's wholly-owned subsidiary Poltava Petroleum Company ("PPC") since 2004, was contracted out in late Q3 2012 as part of the Company's cost management programme. More than 50% of the rig personnel are PPC staff.



JKX Chief Executive, Dr Paul Davies, commented:

"We are pleased to recommence the in-fill drilling programme on our core Ukrainian production licences, the production from which currently underpins our Group cash flow."



JKX is an exploration and production company listed on the London Stock Exchange. The Company has licence interests in Ukraine, Russia, Hungary, Slovakia and Bulgaria.



ENDS

JKX Oil & Gas (LON:JKX) reported revenues of $$74.3m for the six months to the end of June (2013: $91.3m).

Profit from operations before exceptional item was $5.8m (2013: $9.4m).

Chief executive Dr Paul Davies said: "The first half of the year saw a continuing improvement in the company's production levels, in line with our strategy in both Ukraine and Russia, with the contribution of the first two wells in our new Elizavetovskoye field demonstrating the potential of this asset to significantly raise the level of our Ukrainian production going forward.

"Revenues in the period have been adversely affected by lower gas realisations and lower oil production in Ukraine. However, we continue to benefit from strong oil, condensate, gas and LPG realisations which are expected to remain firm through the rest of the year.

"The work programmes in both Ukraine and Russia are fully funded. Production is anticipated to be maintained around 10,000 boepd through the second half of the year.

"The difficult political situation in the east of Ukraine has continued into the second half of the year, but to date our operations have not been directly affected."

Broker note concerning the situation in Ukraine:
"Concorde Capital July 22, 2014:
The Ukrainian government submitted to parliament on July 21 amendments to Ukraine’s tax code that would significantly increase royalty payments for private producers of natural gas. The proposal calls for boosting royalties for firms that sell gas to industrial producers to 70 percent of the regulated gas price (UAH 4,724/tcm, or USD 406/tcm, based on the current exchange rate). The current legislation stipulates the royalty payment at 28% (or 15% for those firms extracting gas from wells deeper than 5 km) of the price of imported gas (USD 282/tcm in June). If the draft becomes law, private gas producers will have to pay USD 284/tcm in royalties, up from USD 79/tcm they had to pay in June.
Alexander Paraschiy: The amendment, if approved by parliament, will surely ruin the attractiveness of gas production in Ukraine. The net positive effect for the state budget from such an initiative would be close to UAH 8 bln annualized, but it will be short-lived. It will also lead to a significant decrease in gas output by private producers. Note that gas output by private firms increased 33% yoy in 1H14, while output by state firms (which are restricted to low, regulated gas rates) fell 2.5% yoy. Since the initiative contradicts the government’s strategy of energy self-sufficiency, there is a chance that parliament will reject it.
If approved, the legislative initiative will cause a dramatic deterioration in the operating profit of Ukraine’s listed gas production companies: Serinus Energy (SEN PW), JKX Oil & Gas (JKX LN), Regal Petroleum (RPT LN) and Cadogan Petroleum (CAD LN)."

StockMarketWire.com
Production at JKX Oil & Gas fell to 10,052 barrels of oil equivalent per day in the third quarter - down from 11,943 boepd a year ago.

Gas production fell to 54.2 MMcfd from 62.7 MMcfd and oil output dropped to 1,025 bopd from 1,498 bopd.

LPG totalled 33 tonnes per day - down from 49 tonnes per day a year ago.

Chief executive Dr Paul Davies said: "Production levels were maintained above 10,000 boepd during the period despite challenging fiscal changes and political events in Ukraine, as well as the introduction of sanctions in Russia. We have continued to develop our licence portfolio and progress our development projects in Ukraine, whilst continuing to monitor the situation closely. Russian production remains constrained to around 80% of base capacity due to tubing issues in two wells. Rig mobilisation is underway, with rectification works anticipated to commence in the New Year."

StockMarketWire.com
JKX Oil & Gas is suspending its planned 2015 capital investment programme in Ukraine.

The company says this is due to the combination of Ukrainian Government-imposed restrictions on selling its gas to industrial clients and the punitive rate of gas production tax.

JKX says the capital investment programme will be suspended until the economic parameters for investment improve and consequently, the Skytop drilling rig is being stacked following its recent completion of well Ig-140, and operational and ancillary costs reduced. JKX says that further to the announcement of sales restrictions imposed on private gas producers by the Ukrainian government on 29 November, the company reports that it sold approximately 80% of its December gas production capacity to industrial customers, with only 20% of its gas production capacity shut-in during the month. But it adds that the market available to private gas producers in Ukraine continues to contract with competition for the increasingly limited number of credit worthy industrial customers becoming intense.

JKX anticipates that gas sales may reduce to less than 50% of its production capacity in Ukraine while the government decree remains in force and will necessitate shut-in of a proportionate level of gas production. At the same time, the Ukrainian temporary level of tax on gas production of 55% has been incorporated into the Ukrainian tax code for 2015.

StockMarketWire.com
JKX Oil & Gas reports successful test results from well E-303 in its Elizavetovskoye field in Ukraine.

JKX says that following additional perforations in the shallower A2 carbonate reservoir and acid treatment, co-mingled production with the G7-12 sandstone reservoirs was 5.21 MMcfd of gas and 18 bpd of condensate through a 48/64-inch choke with a flowing wellhead pressure of 505 psi.

Chief executive Dr Paul Davies said: "We are pleased that we have been able to co-mingle production from the sandstone and carbonate reservoirs to create an overall cash generative well result."

Well E-303 was drilled to a total depth of 4,406 metres and initially completed in the G7-12 sandstone reservoirs only. Production from the deeper reservoirs, whilst steady, is not economic in the prevailing economic conditions in Ukraine.

JKX has announced its decision to suspend its planned 2015 capital investment in Ukraine because of the combination of current restrictions on selling its gas to industrial clients and the substantially increased rates of gas production tax.