Stonefold
19 Oct 2015
Re: Positive phase for JKX commences Price and volume produced continue upwards.[link] auction of LPG, JV Poltava petroleum company has sold 236 t at 17000 UAH/t. ========== Alpine Oil & Gas as operator should be commencing drilling of 2 (or 3?) wells shortly = 4th quarter 2015.As these are targeting shallow prospects 1,200M ish, feedback should be fairly quick.JKX has 25% interest.[link]
Stonefold
08 Oct 2015
Positive phase for JKX commences Delayed but moving closer to the reduction in gas production tax.LPG prices rise.All three funds holding large Short positions are reducing.---------- -[link] parliament approved on Oct. 6 the first reading of a bill #2835 that cuts the natural gas production royalty for private producers to 29% of the gas price from 55%. For those producing gas from deep wells (over 5000m), the royalty rate will decrease to 14% from 28%. The draft law was initiated by MP Yulia Tymoshenko and also reduces the royalty rate for gas produced by state companies to 29% from 70%. The draft stipulates that it will take effect after its publishing, or after the Rada approves it in the second reading and the president signs it. ..........Alexander Paraschiy: The preliminary approval of a tax-cutting initiative is encouraging for domestic private gas producers, inducing JKX Oil & Gas (JKX LN), ..........."------Prices nudge up a bit for LPG sales[link] auction of LPG JV Poltava petroleum company has sold 188 t at 14300 UAH/t .---------- ---[link]
Stonefold
21 Aug 2015
RNS Neptune gives a thumbs up So Mr Burak Ozdogan - Neptune Invest & Finance Corp. On 20 August 2015 Adds 5,466,153 shares (from Blackrock) Neptune's Total now 15,420,598 8.96%
MrNoviceman
19 Aug 2015
Re: Arbitration Concluded Stonefold, thanks for your help.
Stonefold
19 Aug 2015
Re: Arbitration Concluded The UK Supreme Court Justices had announced that they would hand down their ruling on 22-07-2015.Unfortunately some of the parties then chose to submit additional written material = delaying tactic. The court gets back from its summer holidays on 1st October, so should not take too much longer for the ruling to be revealed. [link] Group LimitedGlengary Overseas LimitedShareholder voting rights remain suspended until information is provided on beneficial ownership.
MrNoviceman
18 Aug 2015
Re: Arbitration Concluded Stonefold, the time you have taken is deeply appreciated. Do you happen to know what has happened to the proceedings with reference to voting rights etc?ThanksMike.
Stonefold
18 Aug 2015
Blackrock overhang cleared Blackrock yesterday sold their remaining block of 5,466,153 shares = 3.18% @ 16.25pWho bought them ?
Stonefold
18 Aug 2015
Re: Arbitration Concluded After a bit more digging – JKX appears to have had three arbitration claims ongoing.SCC ICSID UNCITRAL ----ICSID - has been concluded (by mutual consent of the parties)SCC - I presume will be the next to conclude (from re-reading RNS of 23-07-2015 which states “……The proceedings have now been consolidated under the UNCITRAL Arbitration Rules. ………”-----Of the matters in the arbitration claim:It would be very unlikely to see a repeat of the temporary sales monopoly previously applied by Naftogaz, as it would be deemed illegal under a subsequent law on energy markets adopted in Ukraine, which seeks to align Ukraine with the requirements of integration with the European Union.The need to bring the gas production tax down from the current 55% to 28%.The Ukrainian cabinet have proposed a draft law which would bring it from 55 to 29% and would come into effect on 01-10-2015. There is to be further discussion of that propose law on 27-08-2015 – if a progressive parliamentarian chose to raise an amendment to lower it to 28% then some including the Minister of Energy would vote for it.Currency controls – There has been an few months of calm and stability on the exchange rate for the Ukrainian Hryvnia. Government debt restructuring negotiations are close to a possibly favourable outcome. Financing programs with IMF and others are in operation. [link] of an IMF Conference Call on UkraineWashington, D.C.August 4, 2015 Participants:Nikolay Gueorguiev, Mission Chief for Ukraine“…..QUESTIONER: A question on the capital controls, there is a reference to a roadmap on the gradual lifting of those controls. Can you comment on which measures will be lifted first and when, and are you saying that all capital controls must be removed by next April?MR. GUEORGUIEV: There is a roadmap; I believe the national bank has mentioned in their public communication some of its basic elements. And they did actually relax some restrictions already on June 3, so this was the first stage of the implementation of this roadmap. The roadmap is generally conditions-based, and I won't go into details here, but these conditions are related to further progress in macroeconomic stabilization in Ukraine, and as stabilization becomes firmly entrenched, more and more restrictions will be lifted. …..” That just leaves the claim for $180m.
MrNoviceman
14 Aug 2015
Re: Arbitration Concluded So, what exactly does this mean? Who won and who lost?
Stonefold
14 Aug 2015
Re: Arbitration Concluded ICSID arbitrationStatus of Proceeding: ConcludedOutcome of Proceeding: Order taking note of the discontinuance of the proceeding issued pursuant to ICSID Arbitration Rule 43(1) on August 11, 2015.
Stonefold
06 Aug 2015
Arbitration [link] should be appointing the tribunal panel very soon.(Or preferably settling out of court to save money on legal fees.)
Stonefold
06 Aug 2015
LPG still selling [link] sell LPG at auction 175 tons at 13 400 UAH / t.
Stonefold
06 Aug 2015
Civic activism O/T sort of.A small protest about how some Ukrainian Businessmen including Mr Kolomoisky, Allegedly mismanage businesses to the disadvantage of other shareholders/the citizens of Ukraine. [link]
mcescher
30 Jul 2015
Pretty cool JKX / AFR infographic report Good JKX Oil & Gas / Afren PLC comparison. Has analysts estimates of EPS which is interesting. [link]
rRomeo29
18 May 2015
Re: the nest steps Bearish confirmation.Careful everyone, because the vital 30p support line has been breached.---------...tut, tuut, well, that 30p support might actually be breached. Iran could soon open its giant oil-reserves - and buumm.While the overall look for JKX is still "okay okay", the breaching of 30p would send this share back to the 10`s, as mentioned the 13p area.
