Member Info for StoneFold

Is the reason Eclairs and Proxima are getting a bit twitchy, because of the upcoming Rudenkivske field work-overs? With Schlumberger aiming to stimulate 11 wells with multiple zones over the next four months and work due to start this week, there will be potential for a lot of news. If work is being done one well at a time that would be result in some sort of news every 11 days, if it is to be done as a batch job there could be a few news releases containing results for several wells at a time. If Schlumberger can find a way to overcome the tightness of the reservoir then the share price could easily rise to a point where even Eclairs could sell their shares for a profit. This month leading up to the AGM is going to be interesting.

The former unsecured bondholders would need a price of 7.19p to breakeven with their new shares.

AST's CEO was in Italy to cancel an equipment order, not to see CAD. There is nothing to suggest any further interest between the companies. CAD's activity level in Italy will most likely be very low for 2017 = occasionally checking Exploenergy's inbox.

Polygon Global Partners LLP reduced their net short from 0.57 to 0.49% on 07-02-2015. The short (was originally/maybe still is) to hedge their convertible bonds. So having read the arbitration result they are not expecting the share price to fall much in the near future? Looking at cash flow, JKX should have enough to pay the Bond interest later this month and the bond repayment + interest February 2018. If there was a requirement to pay either or both of the two court case in the next 12 months, that would be interesting. Might have to sell the Russian assets. However production has been increasing: Ukraine natural gas production was up 7.1% to 16.51 cu M for the month of January. Then well NN47 is being put on to production at about 11.5 mm cu ft d Well NN16 work over = ? Hungary well HN-2st due to go into production early February at 1.8 mm cu ft d So possible 70% increase in gas production. Combine with the improvement in production taxes, there could be enough profit to cover the court debt ( if payments were made in stages ). It could soon be clear of all debt (bonds and any court) and have a more relaxed share price. Bit like a fat swan on the opposite side of a lake - the ingredients are there for a take off and flight - but keep an eye on its progress.

Polygon Global Partners LLP JKX Oil & Gas PLC GB0004697420 0.57% 2017-01-17 Reduced "Net Short" position by approx 188,895 shares. Probably to match sale of bonds.

Is there something down there ?

Cadogan make first non-Ukrainian early stage exploration investment in Italy.

Sorry no time/interest.

Wonderer, Thanks, always good to be watchful. If by a short position you are referring to: Polygon Global Partners LLP 0.68% net short last altered 15-01-2015 It is known about by people sad enough to follow JKX over the years. Polygon have had an apparent net short position of varying size since at least 2013 (I think this is when the short disclosure rules changed ?). The last eight times they have altered it they have reduced the size of the net short. The reason that they initially took out the short was to hedge against their long position in a convertible bond. In theory that bond could be converted to ordinary shares at about 76p. As the share price has so far stayed resolutely below 76p it has not been worth anyone converting their bonds, and Polygon have proved wise to hedge. As financial instruments such as convertible bonds do not officially count as long positions until they are actioned, it can appear that someone has a net short position when in reality their theoretical long matches their actual short. The last time that I am aware of them declaring their long and short position was as in the link below. RNS 19-02-2015 www.londonstockexchange.com/exchange/news/market-news/market-news-detail/other/12255612.html

There is about 17p per share cash in the bank. Plus the value of the existing businesses, which are more or less ticking over. A risk is that the company spend some of the money on an asset that may prove to be worthless. Then again they may buy an asset that results in a reasonable return. DYOR

IMO AST is overpriced now and was overpriced when CAD last looked at it, then AST were proposing the IPPC Slovenian sales route. Now it only has the borderline profitable raw gas export plan - it is now a far less attractive proposition. The six month take-over panel restriction period ended 30-09-2016, and so far there have been no offers from anyone. No company should risk bidding until an extended flow test has been conducted. Or at worst there should be a money back walk-away clause if it fails to flow commercially. There is a question over how further funding will be obtained in order to get it to the attempted production stage. Also with the existing debt due for repayment on 19-11-2016 there is huge financial uncertainty, will it become another XEL? Have a look at the CAD video, their search for suitably valued assets has moved on.

For either momentum traders or medium term investors. With the cash in UK banks and growth potential of existing business combined with the "will they eventually get round to buying a fairly priced asset" soon.

But if it makes things easier for people, leave the rest of the sector where it is, and just revise MTO up a lot ;-)

The rest of the sector may need revising down a little and MTO up a little.

Capita’s profit warning confirms that it is not just Mitie that has found business conditions tough this year. This could lead to a revision of opinion that the sector as a whole may for a while have a battle on its hands, and that Mitie was unfairly judged on the 19th, and is as a consequence oversold.

CAD's CEO Video interview from 21-09-2016 Oil Capital Conference. https://www.youtube.com/watch?v=ahxWU1grxgQ

No hard figures are likely to be released until the interim report in November so everyone is guessing and voting accordingly. However as soon as MTO announce that they will be shutting down/selling the unprofitable areas of their business, (After all why should a private company subsidise a government’s socially divisive austerity policy?), Then IMO the share price should return to somewhere north of the maximum price they paid during the share buy-back programme. Which was a self-valuing exercise performed throughout four of the six months in question. Meanwhile today’s RNS: Harris Associates L.P. Bought a few on the dip bringing their total From 17,910,282 on 15-09-2016 To 18,393,003 on 19-09-2016

Also there are other sites that present the information is a more user friendly format such as: http://shorttracker.co.uk/company/GB0004697420/all

Hi j.williams2, https://www.fca.org.uk/markets Click on the button/link for Short positions daily update Download the latest spreadsheet of short positions disclosed to us (XLS) It shows the net short position (total longs minus total shorts). Only whilst the net short position is greater than 0.5% do they have to be declared. Any such position or change in position should be declared by the following day (but sometimes it takes a couple of days more)

Others have started to close short positions. BlackRock Investment Management (UK) Limited From 2.20 % 2016-09-15 To 2.00 % 2016-09-19 SFM UK Management LLP From 1.21 % 2016-06-20 To 0.92 % 2016-09-19