Member Info for hoper

In 1990 I bought 30,000 next shares at 17p each - my first ever stock market investment! Sold a couple of years later and made £20k profit and bought a new car and had a nice holiday with my profit. Include the dividends and that investment would now be worth approx £5 million - if only!

The board know shareholders are expecting an update (as promised) by the end of Jan 22. If it's not going to happen today they should have informed shareholders before now.

Gambier - You really are a pompous prick. Many of us knew the risks and have bought and sold at a nice profit. I have most likely made far more money than you over the last couple of years in JKX. That said JKX 's management have behaved disgracefully - almost criminally - and it should not be accepted as normal behaviour!

It might not be criminal but it's pretty close. It certainly isn't what you would expect from a company listed on the main market. That said any company that has it's assets and major shareholders in the Ukraine and Russia is not for Widows and Orphans!

Selling at this price might be crazy, but by doing what they have done the management have shown what they are. I'm just happy to be out. It's a shame because I'm leaving with over 10 grand profit but feel like I've been robbed. Still life goes on, lets just hope they lose all there court cases!

Florence141414 - I think so, but these guys are so dodgy you have to give the document a very detailed read. I'm lucky that my 20,000 shares are all freebies, but this really stinks. Ukraine really is the most crooked country in the world

Pjf - Like all shares it depends what price you bought in. I bought 60,000 about 18 mths ago at 15p, I sold half about 6 mths later for 30p leaving me 30,000 free shares. I then sold 10,000 at 30p a few mths later to bank some profit - I now hold 20,000. JKX is a good company, but in a country with a dodgy reputation. When updates are due the SP normally rises because the company rarely disappoint, that said it is a bit under most peoples radar and the SP drifts when there doesn't appear to be much happening. Don't expect too much uplift before the end of Dec/early Jan unless there is some big news.

Gambler14 - If you don't see the difference between having $30 million extra in the bank and hoping to have $30 million extra in the bank there really is no hope for you.

At the moment it's cash levels and expectation of good results over the next quarter that is driving the SP. What will increase the SP is if that expectation becomes fact. In 3 months time we should have an update showing a big jump in cash levels and hopefully a very positive outlook for the future. Then the SP could rise to the next level.

Gambier - The price of gas doesn't have to rise for the SP to get to 60/70p. Every month at the current high price (or even lower) is putting money in the bank - the more money in the bank the more pressure on the SP to rise. If JKX do bank $30 million over the next 3 months the SP will rise. If they sell the Russian and Hungarian business's for decent prices it will go even higher. In the near future the SP will jump around a bit, but it will move in the right direction before the next update.

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.

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.

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.

According to LSE nearly 500,000 shares bought and 315,000 sold. It seems strange to be down over 12%.

SpotOn have one Director who has been there since May 2020, no history and no money. Who the hell is going to lend them $166 million dollars? None of the major, medium or small oil companies have shown any interest in getting involved with Barryroe. Why? This company exists to pay the directors wages, in a few months they will come back to shareholders for more money and the sad thing is they will get it. There is more oil in my domestic heating tank than will ever come out of Barryroe.

ps200306 - When PVR first drilled at Barryroe the expected flow rates were 1800 bpd, that maybe what Starbuck is referring to. I think they actually recorded 4,000 bpd, although if I recall correctly this was over a shorter period than normal - which left some people a little sceptical.

Flombo10 - These weren't unknown Chinese entities. APEC were an unknown, but the companies that were supposed to be supporting then were enormous companies. A little bit like SpotOn. SpotOn are a tiny, one director company who say they have the support of enormous companies. I wonder if they have any chance of getting the financial support they need? It looks like the same type of deal to me.

Where does this £166 million arrive from?

I think a lot of people are missing the main point. SpotOn are a one man company with no money. What are the chances of this farm out working? I guess 0% at best.

ps200306 - SpotOn appear to have one director, no employees, no company history and no money. They are currently breaking the law by not submitting their confirmation statement to Companies House. PVR have been trying to do a deal on Barryroe for the last 10 years with no success. They have repeatedly asked shareholders for more money and then let them down. Why would the Norwegian export credit facility do a deal with these people? Why would they throw many millions of pounds at Barryroe when nobody else would. I honestly hope your optimism is justified - I just don't see any reason for it.