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What do JKX plan to do with all this cash? I can't see any history of a dividend payment nor a presentation outlining dividend policy...
I understand cash may be used to hopefully grow organically, but surely with such a large cash pile compared to market cap, they would pay a dividend?
SP looking a bit oversold right now. Don't know why? This coming quarter will probably be JKX most profitable to date.
Looking forward to an upward rebound soon.!!
Sorry Gambier 18.5 to 55p in a very short time…. And yes 4-5 months is a very short time! You can’t expect people not to sell out if they doubled, tripled their money!
We’ll talk again in 12 months!
Jmo 80's before years out
“The price of gas is going up and will make it go to 60p to 70p not rocket science”
Ok, so you are assuming at the current gas price the SP is stuck around high 40s / low 50s. What price is gas going to go up to in order to get the SP into the 60s or 70s? It not being rocket science, when is this likely to happen?
The price of gas is going up and will make it go to 60p to 70p not rocket science
“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.
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!
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?
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.
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.
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.
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.