Past year: ▼ 50%(1.50c – 3.00c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
7 June 2012resource reserve update▲ GoodMajor
Kazakhstan's State Reserves Committee approved C1+C2 reserves of ~37 mmbbl for the four wells, versus Senergy's 24 mmbbl 2P (Triassic only); the board cautions the figures are not comparable. The exploration licence is extended to December 2014. J-53's frac hit water, so a workover is planned in Q3.
30 Apr 2012quarterly activities report● Neutral
March quarter report: J-50/J-52 trial production began, with oil presold at US$400/tonne. J-53 flowed up to ~300 barrels of liquid a day, mixed oil and completion fluids, and needs further work. Block 31 licence prolongation and extra acreage applications lodged; an underwritten rights issue awaits Kazakh approvals.
27 Apr 2012material agreement▲ GoodMajor
Two traders agreed to buy 6,000 tonnes at US$400/tonne (~US$58/barrel), fully prepaid; US$1.2m is received and US$1.2m is due. Net of ~US$6/barrel transport and storage, ~US$52/barrel versus US$42 earlier, a 22% increase.
24 Apr 2012production update▲ GoodMajor
Trial production has started from J-50 and J-52 under their licences, expected at ~600 bopd combined, trucked to third-party storage. This resolves the long wait; it came in April 2012, later than the end-2011 expectation. J-51 and J-53 licence applications are being prepared.
29 Mar 2012other● Neutral
finnCap Ltd replaces Evolution Securities as Jupiter's AIM nominated adviser and broker, effective immediately. Administrative change, five months after admission.
16 Mar 2012half year report● Neutral
Half-year report to 31 December 2011: loss A$2.02m, cash A$4.6m, and 11,739 barrels produced. All four Block 31 exploration wells have been discoveries. J-55 is the final commitment well, to spud in 2012. Cash is well below the ~A$14m at 30 June.
31 Jan 2012quarterly activities report● Neutral
December quarter report: J-51 held over 600 bopd through its 90-day test, ending 4 February, with ~24,000 barrels sold. Extension 3D is processed, and the J-55 location is due in Q1 2012. J-50/J-52 trial production has slipped to Q1 2012, from the earlier expectation of before end 2011.
25 Jan 2012drilling result▲ GoodMajor
J-53, the fourth exploration well on Block 31, reached 3,113m after 58 days, with hydrocarbons indicated in the Mid Triassic and 87m gross and 56m net pay. A 90-day flow test follows, and a new reserves report is due in Q2 2012.
18 Jan 2012admin correction● Neutral
Competent Persons Statement for the 2011 annual report, filed at ASX's request for completeness. It names Senergy for the Triassic reserves and prospective resources and RES for the P50 prospective resource. No new results.
21 Dec 2011production update▲ GoodMajor
J-51 is stabilised at 630 bopd on a 9mm choke, above the ~500 bopd expected on 28 November. J-53 was at 1,661m on 20 December. J-50/J-52 production still awaits final flaring permits. An updated reserves submission is planned for late Q1 2012.
8 Dec 2011security holder rights change● Neutral
New company constitution released after shareholders passed Resolution 5 at the 28 November AGM. Mostly administrative, but includes new proportional takeover and share-interest disclosure clauses and a minimum shareholding clause.
28 Nov 2011production update▲ GoodMajor
J-51 began its 90-day production test at 340 bopd, constrained by rain-damaged roads; about 500 bopd stabilised is expected. Oil is sold to two domestic traders at ~US$42/barrel. J-53 spudded 25 November, targeting up to 10 mmbbl of potential resource at ~3,200m.
11 Nov 2011other● Neutral
Notice that Jupiter is presenting at the Oilbarrel Conference in London on 10 November 2011, with slides on its website. No new information.
10 Nov 2011investor presentation● Neutral
Oilbarrel conference presentation repeating known facts: 2P reserves of 24.2 mmbbl, net cash US$11.7m at 30 September, ~116m shares, and a target of 4,000 bopd by 2015. The presentation lists SNG at 49%, which looks inconsistent with earlier records (inference: possibly a typo).
10 Nov 2011listing compliance notice▲ GoodMajor
Jupiter's 115,863,487 shares were admitted to London's AIM on 9 November 2011 under JPRL, alongside the ASX listing. This completes the planned dual listing. J-53 is expected to spud by end November, and J-50/J-52 production before year end.
26 Oct 2011annual report● Neutral
2011 annual report, re-lodged in full. The chairman's letter repeats the Senergy upgrade of 2P reserves from 8.6 to 24.2 mmbbl, the ~A$11m May placement, Waterford at ~30% and the Block 31 extension. Text is truncated; no new information visible.
14 Oct 2011listing compliance notice● Neutral
AIM admission documents are published, with admission expected 9 November 2011 under ticker JPRL. Halyk Finance has begun research coverage. This continues the planned London dual listing.
11 Oct 2011quarterly activities report▲ Good
September quarter report repeating known events: J-50 and J-52 licences approved with production expected by year end, J-51 pay of 83m net, the US$3.45m convertible note and the AIM listing. J-53 is expected to spud in Q4 2011.
5 Oct 2011other● Neutral
Notice of a Boardroom Radio webcast with Geoff Gander on the granted trial production licences. No new information.
3 Oct 2011material agreement▲ GoodMajor
Kazakhstan's Central Development Committee approved Trial Production Licences for J-50 and J-52, ending the long wait, with production expected before end 2011. J-51 shows 83m net pay. A US$3.45m, 15% convertible note from Soyuzneftegas is agreed, and AIM listing is planned.
26 Sept 2011annual report● Neutral
Annual report for the year to 30 June 2011. The chairman's letter recaps the Senergy upgrade to 24.2 mmbbl, the ~A$11m placement, Waterford at ~30% and the Block 31 extension. The financial detail is truncated here.
23 Sept 2011drilling progress report▲ Good
3D seismic acquisition over 140 km2 of the extended Block 31 finished ahead of schedule on 21 September, meeting the work commitment over a year early. Processing is due by mid-December, and Jupiter expects at least one 2012 well there.
22 Sept 2011drilling result▲ GoodMajor
J-51 reached total depth of 3100m on 18 September after 50 days, with hydrocarbons indicated in the Mid Triassic by mud and wireline logs. Casing, stimulation and up to 3 months of flow testing come next. No flow rate yet.
30 Aug 2011drilling progress report● Neutral
3D seismic acquisition has started over the Block 31 extension, taking about 4 weeks, with 6 months of processing to follow. Jupiter plans to put a 2012 well location in the extension area if the data supports it.
18 Aug 2011security holder rights change● Neutral
Shareholders approved the 15-for-1 share consolidation. Deferred settlement trading began 16 August under ticker JPRDA, with normal trading under JPR resuming 30 August 2011. Administrative notice.
8 Aug 2011director officer appointment● Neutral
Gamal Kulumbetov, with over 13 years in the sector, joins as Managing Director of Jupiter Energy (Kazakhstan), based in Aktau. He will run Block 31 operations and set up an oil sales division.
1 Aug 2011drilling spud● NeutralMajor
J-51, the 2011 commitment well in the Akkar East structure, spudded on 30 July 2011. It targets about 3200m in roughly 60 days and tests the Triassic and Jurassic. It sits 2 km from J-50 and 1.7 km from J-52.
29 July 2011quarterly activities report● Neutral
June quarter report: the J-52 Jurassic test showed only ~1% oil and may not be commercial. Block 31 was extended and the rig is at J-51. A 15:1 share consolidation and new performance rights go to the 12 August meeting. Cash was about A$14m.
13 July 2011asset acquisition disposition▲ GoodMajor
The Ministry of Oil & Gas approved extending Block 31 by 59.29 km2 to 122.68 km2, on the same fiscal terms. Jupiter must shoot 3D seismic there by end 2012, estimated at US$2.4m. This resolves the long-pending extension application.
4 July 2011production update▲ Good
J-52's 90-day Triassic test is done and its reserves were approved by the Kazakh Geological Committee. J-52 Jurassic completion has started, J-51 is due to spud in July, and cash was about A$14.5m at 30 June.
