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On the 9th August we had the half year report it was very very positive with brilliant numbers,what happened the sp dropped from 30p to 25p for no reason then around the 20th August it took off the same thing will happen again imo when the dust settles
“The share has risen from 15p to 55p the other day in a very short time”
No, it didn’t. It moved from the teens to mid 20s and then briefly into the 30s during 2020. Then in 2021 it dropped back down to the 20s and then increased as gas prices increased. Furthermore, you answered a point I didn’t make. I asked why the market hasn’t reacted to the current cash position / generation to push it into the the 60s or 70s. If it were to do so, why not now?
“Also I’ve been in plenty of shares in the last two years where it took the market quite awhile to catch up but they came very good in the end”
I’m talking about this share, it is not of any relevance that shares can go up in value after 2 years - of course they can. The cash position of this company is not a subjective factor, it is an objective fact. The market doesn’t need 2 years to see a financial balance. It might need years to appreciate the subjective nature of the potential an oil field or a drilling campaign or strategy to increase production. So I’m asking a simple question: what is the catalyst to push this into the 60s or 70s? It isn’t the cash position.
Sorry the cross ram will be the only post.
Probably many here are already invested in Serica, but I wonder why taking imv a higher risk investing in Ukraine company with many issues unresolved, when with similar potential we have a UK company like Serica.
Also much bigger market cap and less volatile share, like for like because of Ukraine operation JKX will never be valued same multiples of Serica.
All investing is a waiting game. Imo the metrics are looking good here I can't see anything that anyone else can't see other than its vital stats suggest it's unvalued. Look I'm in at 24p If i sold now I'd be quite happy and what attracted me to the company back then was how it stood out like a sore thumb on valuation. The market has reacted positively but it took a while to realise. I still believe it has further to go and I think the market will realise too. In don't agree with you that the market is fully aware at all
Gambier… ‘’the market would have reacted already’’ ? I can’t take that seriously if I’m honest! The share has risen from 15p to 55p the other day in a very short time! The market is reacting! No shares go up in a straight line.
Also I’ve been in plenty of shares in the last two years where it took the market quite awhile to catch up but they came very good in the end!
“Just a waiting game to allow the true value of jkx to shine through”
Waiting for what? The market is fully aware of the cash position and likely cash generation over the rest of this year. What needs to change to get the market to see value at say 60p to 70p? What is it that you can see now, that the rest of market will only begin to see in the next few months? Don’t say cash generation because every single person can see that.
It was cash generation and net cash position that made this share such good value at sub 20p. It wasn’t unreasonable to think it ought to have been 35p at the time. The rise in gas prices quite rightly pushed this up to an oscillation between high 40s and low 50s. What is the driver for the next upward price move?
Fair play and good call on the day. But anyone who is not trading surely doesn't need to be worried by this share. Fundamentals look solid, we can make money when oil and gas is low and its looking like we'll be making a fortune while it's up at $80+ dollars. Just a waiting game to allow the true value of jkx to shine through.
Your comments of don't follow the herd and no has researched it are interesting. Apart from the court cases which they have fully updated us on and explained that money is left to one side I've not seen anything major.
A nice divi maybe is whats required. Say 10% at these levels.
The market knows of the cash position, it isn’t a hidden value. What is going to convince the market that the cash position / generation offers value at say the 60 - 70 pence range? Just repeating the cash position isn’t a sufficient explanation (or the market would have responded already - cash is an objective value). The sorting of the court cases? Another great drill result?
£5K order filled at 44.8p
Barry it is of course better to be factual than dealing on emotion. This is why I put a buy order in for 45p (£77M market cap). At this price, and assuming additional FCF from Q4 of 30M USD (~£21.7M) at current Ukrainian gas rates, JKX are generating £200-250K every day. The mid range of this daily cash influx means the company is adding 0.3% of its market cap. Every. Single. Day.
Ah yes. Thought you were referring to something else as the amounts were different. Thanks for clarifying Hoper.
28th April 2021
JKX Oil & Gas plc
("JKX", the "Company" or the "Group")
Final decision on the merits of Case No.816/4476/14
JKX's wholly owned subsidiary, Poltava Petroleum Company ("PPC") has received the final judgement of the Supreme Court of Ukraine in Case No.816/4476/14 relating to the Poltava Tax Authorities appeal against lower court judgments in this case. This case relates to a claim for 2010 royalty payments and a judgment of UAH393.1 million (approximately US$14.1 million) including interest and penalties has now been made in favour of the Poltava Tax Authorities.
PPC is under no immediate obligation to pay the judgement as the Ukrainian tax authorities have to obtain approval of the Supreme Court of Ukraine before the payment can be collected from PPC. This hearing is expected to be heard in late 2022.
In the meantime, the Company continues to maintain provisions in respect of both this 2010 claims and the 2015 fee claims as described in the latest annual report. The latest Quarterly Operations Update disclosed that the Company held net $28.4 million of cash and cash equivalents and $2.9 million of Oil & Gas inventory as at 31st March 2021.
its the blind leading the blind on here.... ffs read more than 3 RNS and read the last set of Annual Financial Accounts! Dont be one of the herd!
Ah yes, I’d written off the amount owed by the gov for all calculations.
It would not surprise me if there was a big order behind the scenes
They are subject to appeal by JKX in the meantime the government owe them 12M after an appeal so its all up in the air atm
Where have these number come from Hoper? First I’ve seen of this.
Added another buy order for £5K if it hits 45p again. Fingers crossed it hits.
Yes they have over $50 million in cash and a few million more in oil and gas stocks. They are certainly on track to make a lot more money this quarter and hopefully a lot more from the sale of Hungary and Russia assets. That said they have to pay $15 million to the Ukraine government and possibly another $10 million on top of that (rough figures). So although things are looking very good - not perhaps as good as some are making out.
Do any of you guys know the EV value for JKX? Thanks in advance
In effect it is doing nothing other than oscillating. Market is aware of cash generation and this is where it has sat itself. If you think there will be a greater appreciation of the cash position in the next few weeks / months, I guess you can buy in now. If you think this is how the market is valuing future cash generation, then you can stay out.
SP up and down like a *****'s knickers... 56p two trading days ago down -7p / -15%, can see 47p -45p coming before the 10-15% punters turn up again for a quick feel again. LOL.
Barry, the 10% of UNB owned by JKX and the $12 million the Ukrainian govt owe them is down as having zero value in JKX's accounts. So they are not really a problem, if either one pays off it will be a bonus. There is the problem of the court cases, but JKX now have more than enough money to cover them. Currently JKX are earning large amounts of cash, selling their Hungarian assets and hopefully selling their Russian ones. Things can go wrong - I think we all know that - but it's looking pretty good at the moment especially for those of us that bought when the price was much lower.
Eclairs with 28% holding has no bearing on this company except a shareholder , if Ukraine wish they could suspended his holding through the legal process of british courts . Also JKX have not had any dealings with Kolomoisky Privat Bank and therefore no issues.
JKX will far exceed ENW cash position within several months and one why ive sold ENW due to high costs to keep production levels.