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

Well Peoples, the plain fact is that all oil stocks will move in line with oil futures, unless there is something that comes along to deflect them up or down in the opposite direction to the flow, like striking oil, or finding water, or a Coup, heck I forgot a shorting campaign!

Bearing in mind that these high prices have been a phenomenon, and it is not known by anyone if they are really here to stay, the best thing may be to decide when the oil spike has run out of steam and sell with a view to buying back in later.

Remember OPEC like $45 and will move production around to hold that price from now on barring a recession!

FWIW I dont think we are at the top yet, there may be some months left in it, but I have sliced off the tops of my stocks leaving some in cash for the time being.

I dont like the look of my regulars in retail, and banks look like the are soft at the moment.

What's this got to with JKX?

Not a lot, but it does not hurt to air some views.

Whether to sell these must depend on how much you have tied in, how much you have made, and if you can afford to let them ride in the longer term allowing that profit to flucuate in the mean time.

As you know, I did not wait and took instant profit or so it seemed, but that worked for me and may not for you.

Good luck with any decision queen1.

In the mean time if the price drops back to a silly level, I will look to buy back in, if it does not, then I wont.

Sold the last of my JKX today @ 177p, been taking profits @ 184p, 174p and 168p.also sold BUR today @ 177.5.

Cheers SWW and welcome Dr Square. Don't worry, it's not always doom & gloom. This has been a fantastic ride, I just don't want it to end quite yet.

Dr Square,

welcome, I topped up just before the last leap, and also considered switching some SEY funds into JKX after Ould Taya was toppled, but kept faith with SEY as the price held firm, contrary to my expectations at the time, to be honest.


Queen1,

Not an easy decision, and it depends on our position size, and average buying price, as to how much of a risk a futher decline is.

I'm holding from 37p, with additions along the way, so happy to continue holding.

Good luck whatever you decide.

queen1,

well we jumped back to 191 MID on friday, so let's hope we remain around this level now.

JKX has certainly been volatile of late, another good well result wouldn't go amiss.

Now where's the news from M151?

Andy, the price did recover and just in time as it was nearing the point where I'd decided to cut my winnings and sell. So, fingers crossed that it pushes through 2 from here.

Tree shake or leeked information oil up and looking as if it will stay at $65 for a while JKX down.

hopeing its a tree shake or have I missed something?

regards

Do you know, I should keep my mouth shut. No sooner do I remark on the sp strength it then decides to slide again.

queen1,

Up today ,so down tomorrow?

Not unless I start talking it up!

Morning

Thought this might be of interest kindly found by XenaWarriorPrincess on another BB, Russia predicting 4%-5% decline in oil exports next year as the second largest producer may have an effect on oil prices.

MOSCOW, August 24 (RIA Novosti) - Russia's Economic Development and Trade Ministry has adjusted its forecast for 2006 and target figures for 2008, a spokesman for the ministry said Wednesday.
"Main macroeconomic figures remain unchanged," the spokesman said.
The government, having approved the ministry's general forecast of Russia's socio-economic development for 2006-2008 at its session August 18, sent it to the ministry for minor adjustments.
The ministry is forecasting a 5.8% GDP growth for next year, 5.9% for 2007, and 6% for 2008, with inflation at 7%-8.5% in 2006, 6%-7.5% in 2007 and 4%-4.5% in 2008.
The country's current economic growth will not allow its GDP to double by 2010, the goal that President Putin set, the ministry said.
"The GDP will grow by 25.8% in 2005-2008 compared with 2004," the ministry said in the document, highlighting the necessity of institutional reforms, improving the investment climate, reducing the tax burden on business and increasing investment both by the federal budget and the investment fund.
The ministry expects oil exports to decrease by 4%-5% in 2006 due to a slowdown in oil production. But in terms of value, Russia's oil export is expected to grow by 12%-14% in 2008, compared with 2004, due to the favorable situation on the world commodities markets.
The ministry said the EU countries, including Germany, The Netherlands, Italy, Britain, along with Switzerland and China will remain main importers of Russia's oil.
The country's innovational development envisages growth in oil and natural gas production and export in the next few years.
The ministry is forecasting oil production at 474 million metric tons in 2005, 487 million tons in 2006, 495 million tons in 2007 and 503 million tons in 2008, with oil exports growing from 268.6 million tons in 2005 to 292 million tons in 2008.
Natural gas production is also expected to rise from 640 billion cubic meters in 2005 to 673 billion cubic meters in 2008, with exports up from 203 billion cubic meters to 256 billion cubic meters in the same period


regards

Dr Square,

Yes that's a promising outlook, thanks for posting it.

A plea for help.

I have spent the best part of the weekend trying to find gas prices for Slovakia and the Ukraine from 2003 to now the closest I can get is on this sight

http://eia.doe.gov/

but that only gets me to 2002.

Anybody got any better sites or data

regards

I got out on Wednesday. And guess what - the sp has rebounded. Who'd have thought it?! I'm sure I will regret it but hey, I bought 2 years ago at 42p and sold at 182p which isn't a bad increase in anybody's book. I may miss out on further gains but I set myself a sell target to crystalize my gains and it was hit on Wednesday. Good luck to all current holders, I may be back if we ever see 150p again though I very much doubt it......

Queen1,

Sorry to see you leave, but "it's not a profit until it's in the bank", so well done on an excellent profit!

I personally hope we won't see 150 again, but hope you will want to return due to an overwelming urge to hold the stock again due to positive drilling results and the value of oil being pumped!

good luck.

Thanks Andy, I'll see you around on FDI, EDR etc!

There was more turmoil in the Ukraine's politics last week, and one broker stated that this was the reason JKX' price fell a little.

The price of oil also ticked lower, maybe another reason, but not for long IMO.

Very nice RNS

regards

Looking good. Politically I think the President is trying to get a grip on the corruption there!!- link: http://www.unian.net/eng/news/news-85368.html

Well M151, what a beauty!
----------------------------


JKX Oil & Gas PLC
13 September 2005


FOR IMMEDIATE RELEASE 13 SEPTEMBER 2005

JKX OIL & GAS plc
ANNOUNCES
UKRAINIAN DRILLING UPDATE

JKX Oil & Gas plc ('JKX') announces that it has completed and tested Well M151
as part of its ongoing drilling programme at Poltava, Ukraine. The well has been
tied back to the Company's production facilities.

During testing, Well M151 flowed at a stabilised rate of 3,000 barrels of oil
per day and 2 million cubic feet of gas through a 40/64' choke, with a wellhead
flowing pressure of 1,300 psi. Well M151 penetrated a total of 360m of gas and
oil bearing Tournasian sands and is producing from a 220m horizontal section in
the oil leg. Well M151 is a horizontal development well located in the northern
part of the Molchanovskoye Field and is yielding similar levels of production to
the successful Well M152 which was brought on-stream in July this year.

The Skytop Brewster rig has now moved to the northern part of the Rudenkovskoye
Field where it is planned to drill Well R101 to a vertical depth of 4,700m and
again target the Tournasian sands. Well R101 is the first new well to be drilled
by the Company in the Rudenkovskoye Field, and will complement information being
gathered in the southern part of the field from the ongoing extended testing on
Well R12. Well R12 was drilled by the Ukrainian state in the 1970s, and
re-entered and side-tracked by JKX in April this 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



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