Stonefold
06 May 2015
Re: Production Tax to drop sooner or later ? The head of the Finance Ministry says - Will decide on a fix for rental rates before 01-07-2015.But that fix will only be put into action starting 01-01-2016 25-04-2015[link] the same time, the head of the Finance Ministry noted that the Cabinet prepared to admit mistakes. According to her, before July 1 will be fixed with the overpriced rental payments for oil and gas complex, and since January 1, 2016, the new system should be introduced to annuity payments in this area."If we make mistakes, they should be corrected," said n. Jaresko......."
Stonefold
17 Apr 2015
Production Tax to drop soon ? Good news for Ukrainian Gas producers ? Following changes in the Ministry of Finance earlier this year in which the proponent of high production taxes left. And statements by the energy minister that he supports reducing the production tax. Now noises from the Ministry of Finance are pointing towards a reduction in tax to be confirmed next month and applied by July. ---------- ---------- -------[link] 17-04-2015 ".....The Ukrainian government supports a reduction of rental rates in natural gas production by private companies from the current 28-55% graduated scale (depending on the depth of the well) to 18-35%, said the agency "Interfax-Ukraine" informed source in the Cabinet. According to him, the proposal, in essence, the same as the rules of authorship of the bill the People's Deputy Olga Belkova (Block Poroshenko) except out of the hole depth reduction in the differentiation rate from 5 km to 3 km. The interviewee noted that, according to Finance Ministry estimates a reduction of interest rates will not lead to budget losses, but will increase production with the prospect of growth in revenues. The source said that according to the instructions of the Prime Minister Arseniy Yatsenyuk, a temporary solution for the rental policy in the oil industry should be prepared to May, while the final policy should be worked out until July.
MrNoviceman
13 Apr 2015
Re: Supreme Court Appeal Shangha, thanks for information; I had missed that. I hope they don't get away with it.
shangha1
12 Apr 2015
Supreme Court Appeal Glengary Overseas Limited as Appellant are appealing the judgement [2014] EWCA Civ 640 against JKX Oil & Gas Plc in The Supreme Court before Justices:Lord Neuberger, Lord Mance, Lord Clarke, Lord Sumption, Lord HodgeHearing start date: 18 May 2015Hearing finish date: 19 May 2015
rRomeo29
31 Mar 2015
Re: the nest steps ...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.
rRomeo29
25 Mar 2015
the nest steps Careful now folks!Make sure the Sp will not breach the final 30p support, or else...1) For now this should be trading between 30-34p (the 50 and 200-day average).2) Next sell-alert as soon as the 30p line is breached.3) Final bearish alert comes if 27.80p folds.4) ...if so, then retracement down to around 10p (probably 13 Pence).Anyway, always DYOR:[link]
Kenj2
25 Feb 2015
Re: RNS - Proxima Capital walk away from... I have followed up my criticism of the unnecessary and misleading RNS by Proxima with a complaint to the FCA alleging market abuse, and citing example 6 from their fact sheet.This is very easy do do either by telephone or e-mail."6. Dissemination – giving out information that conveys a false or misleading impression about an investment or the issuer of an investment where the person doing this knows the information to be false or misleading."[link] am not sure it will come to anything, but if Proxima get a slap on the wrist it will have been worthwile. Unfortunately there is no onus on the FCA to reply, but I will update this board if they do.
wigwammer
24 Feb 2015
Lambrini girl "I have 6p next spring..(theres another 50%..we dont mess about).."Only 500% out... BANG OFF.Ps that's the trouble with mo investors - they'll be right more often than not, but when they're wrong.... WIPED.
MrNoviceman
20 Feb 2015
Re: RNS - Proxima Capital walk away from... Yes, But in the meantime the Ukrainian tax rules are hopefully reverting.
mantrova
20 Feb 2015
Re: RNS - Proxima Capital walk away from... Frankly, I'm amazed that the sp has held up so well, despite the other non-Prox RNSs. JKX shares could be bought for 12p mid-Dec.m
MrNoviceman
20 Feb 2015
Re: RNS - Proxima Capital walk away from... My sentiments entirely.
Kenj2
19 Feb 2015
Re: RNS - Proxima Capital walk away from off... Interesting response from JKX."The Board of JKX has noted that Proxima, which announced on 5 February 2015 that it was in the early stages of considering a potential offer for JKX, has now announced that it does not intend to proceed.The Board confirms that at no stage has any approach whatsoever been made to the Board of JKX by Proxima."This effectively says that Proxima have not even contacted JKX, and the wording of Proxima's initial RNS could not have been any more vague."("PCG"
announced that it was in the very early stages of considering a potential offer for JKX Oil & Gas"This says no more than they are in the early stages of thinking about it.So all just hot air, they haven't even telephoned JKX. I am not sure if Proxima held any shares in JKX, but this looks awfully like a pump and dump scam to me.
Stonefold
19 Feb 2015
RNS - Proxima Capital walk away from offer. 19 February 2015On 5 February 2014 Proxima Capital Group Inc ("PCG" announced that it was in the very early stages of considering a potential offer for JKX Oil & Gas plc ("Company" and that there could be no certainty that a firm offer would be made. Following further considerations, PCG hereby announces that it does not intend to make an offer for the Company.This announcement is made in accordance with Rule 2.8 of the Code. As a result of this announcement PCG will, together with any party acting in concert with PCG, be bound by the restrictions contained in Rule 2.8 of the Code.
Stonefold
18 Feb 2015
Steady as she goes If Proxima Capital want a company with good cash flow potential they had better roll up their sleeves.LPG auction obtaining firmer prices.Sold 911 t @ up to 11,000 UAH / t [link] and Glengary have not altered their holdings - and confirm that they are not a concert party to Proxima.
Stonefold
17 Feb 2015
Re: RNS Arbitration Proceedings Nothing is certain.The potential value of an arbitration win (or preferably a quick policy to stimulate production from Ukrainian Government) should be taken into consideration when considering any take over offer. If the price offered is too low it should be rejected by all shareholders. I doubt 75% of the shareholders would conspire to accept a low offer price in exchange for illegal kickback payments.---------- ---------- Min of Fin applies 70% gas production tax rate to two state owned gas production companies.Note JKX the Government is still seeking input on what to do with production tax rates for private companies. “……Jaresko also noted that the Government would consider changing the level of rent for private gas production companies. "We will work with the interested parties and investors-those who are already working in Ukraine and only want to invest in order to find a level of rent that fiscal provides what we need in the budget, but at the same time stimulates industry in Ukraine, because we want to invest in Ukraine and decreased its energy dependence," she said. ………..”[link] Government finally decides to apply extra 5% tax on LPG imports for 12 months and 10% on food imports – even though this is contrary to the tariff free trade aims of the EU.
