Past year: ▼ 50%(1.50c – 3.00c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
3 July 2007asset acquisition disposition▲ GoodMajor
Binding term sheet to buy a two-block, 100+ sq km Mangistau Basin permit in Kazakhstan: 16m JPR shares (deemed 30c, A$4.8m) plus US$6m cash, total US$10m, US$500k deposit. Conditional on government waivers, due diligence and possibly shareholder approval. First deal under the Kazakhstan strategy; 3D seismic planned, drilling early 2008.
15 June 2007capital raising announcement▲ GoodMajor
Raising completed: $4.1m in this round, finishing the $4.8m total announced 10 April 2007. Erkin Svanbayev, a Kazakh engineer, joins the board as foreshadowed. Geoff Gander visits Kazakhstan next week to review projects; a specific initial project is to be announced.
8 June 2007capital raising announcement● Neutral
Prospectus lodged for the 100m shares at 4c with a free 8c option each (expiring 30 June 2010), raising $4m. Offer opens 8 June and closes 13 June 2007. Follows the 7 June meeting; formalises the April-announced raising.
7 June 2007director officer appointment● Neutral
Andrew Meloncelli resigned as joint company secretary after serving since January 2005. Scott Mison continues as company secretary. Administrative change.
29 May 2007director officer appointment● Neutral
Scott Mison appointed joint company secretary alongside Andrew Meloncelli. Administrative change.
29 May 2007investor presentation● Neutral
Roadshow presentation on the Kazakhstan strategy, with country background and an unnamed 'initial project' near existing fields in the Mangyshlak area. Says an Almaty office is leased. Repeats the announced strategy; no deal disclosed.
18 May 2007director officer appointment● Neutral
Update on the Kazakhstan push: broker roadshow planned for week of 28 May with Yerkin Svanbaev. He is likely to join the board after the 7 June meeting, alongside a new Technical Director. No appointments confirmed yet.
3 May 2007material agreement● NeutralMajor
Board announces a new strategy: buy undervalued small oil-producing assets and exploration acreage in Kazakhstan. Intends to invite Kazakh engineer Erkin Svanbaev to join the board. The 7 June general meeting will vote on the $4.8m raising.
27 Apr 2007admin correction● Neutral
Standard section 708A notice relating to the 17.5m-share placement issued in April 2007. Administrative, no new information.
19 Apr 2007quarterly activities report▼ BadMajor
March 2007 quarter: FEI could not secure funding, so Jupiter is seeking other buyers for the Malaysian subsidiary. Board will spend no more on PEP 163 and will not take up the PEP 164 option. Cash about $3m.
10 Apr 2007capital raising announcement● NeutralMajor
Jupiter plans to raise up to $4.8m through Indian Ocean Capital clients: 17.5m shares at 4c ($700k), 100m shares at 4c with free 8c options ($4m), and 100m options at 0.1c ($100k). The last two need shareholder approval. Aim is an overseas oil and gas project.
What it means for a shareholder
17.5m new shares at A$0.040 to raise about A$700,000. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (25,000 at the issue price), your slice goes from 0.0212% to 0.0185% of the company. To keep it you'd need 3,712 more shares - about A$148 at the issue price.
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27 Feb 2007half year report● Neutral
Interim accounts for six months to 31 December 2006, covering the failed biodiesel push and subsequent sale of the Malaysian subsidiary. Cash $3.29m at period end. Retells known events and adds no new headline.
31 Jan 2007admin correction● Neutral
Amended December quarter cash statement. Only interest and administration-related line figures change slightly; cash at end of $3.29m is unchanged.
25 Jan 2007asset acquisition disposition▼ BadMajor
Jupiter signed a letter of intent to sell its Malaysian biodiesel subsidiary to FEI Resources for A$1m (A$50k a month for five months, A$750k by 21 July 2007; A$50k received). Plant contracts terminated. This ends the biodiesel plan after the withdrawn prospectus.
13 Nov 2006admin correction● Neutral
Amended AGM results correct the earlier filing: Jupiter Energy named as the entity and resolution 2 relabelled as Gander's re-election. Vote counts and outcomes unchanged.
8 Nov 2006director officer appointment● Neutral
Geoffrey Clifford resigned as director of Jupiter Energy and Jupiter Biofuels, only months after joining in July 2006. No reason is given.
1 Nov 2006security holder rights change● Neutral
The 22,326,338 listed 20c options (JPRO) expired on 31 October 2006. No new detail on how many were exercised beyond what is already reported.
16 Oct 2006other▼ BadMajor
Biofuels prospectus withdrawn and the in specie spin-off dropped, as investors preferred the project stay inside Jupiter. Jupiter now needs $40-50m raised through itself before end-2006, with shareholder approval for any placement. This reverses the A$75m spin-off plan.
29 Sept 2006security holder rights change● Neutral
Letter to holders of 8c options (expiring 31 December 2008) saying they must exercise before the 17 November record date to share in the Biofuels distribution. Administrative notice with no new information.
29 Sept 2006security holder rights change● Neutral
Letter reminding holders of the 20c listed options that they expire 31 October 2006, and that only exercised options share in the Biofuels in specie distribution. Administrative notice with no new information.
25 Sept 2006investor presentation● Neutral
Presentation to prospective Jupiter Biofuels investors repeating the already-lodged prospectus: A$75m raise, A$115m market value on listing, Kuantan plant targeted for April 2008. No new facts.
22 Sept 2006capital raising announcement▲ GoodMajor
Jupiter Biofuels lodged its prospectus to raise A$75m via 150m shares at 50c, to fund the Kuantan plant, with production planned for April 2008. Spin-off is to be voted at the 10 November AGM, record date 17 November, roughly 1 Biofuels share per 2 Jupiter shares.
What it means for a shareholder
150m new shares at A$0.500 to raise about A$75.0m. That's 56% dilution: every existing holder's slice gets 56% smaller. If you held A$1,000 of shares (2,000 at the issue price), your slice goes from 0.00172% to 0.000752% of the company. To keep it you'd need 2,585 more shares - about A$1,293 at the issue price.
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19 Sept 2006annual report▲ Good
2006 annual report: the chairman says the year was far better than 2005, with cash stronger after the $5m raising. It repeats the Biofuels spin-off, a $75m raise, and that Jupiter would stay an oil and gas explorer; board and management are under review.
4 Sept 2006material agreement▲ GoodMajor
Biodiesel plant contracts signed: Kuantan lease of about 8.75ha for 30 years, Desmet 250,000tpa plant, SMEC balance-of-plant and Ditali palm oil supply, plus 5-year tax pioneer status. Desmet and SMEC deals depend on Biofuels listing. Raise now A$75m at 50c; meeting delayed to late October.
28 Aug 2006security holder rights change● Neutral
Board clarifies that the 20c October 2006 options keep their 20c exercise price after the planned Jupiter Biofuels in specie distribution, on advice from accountants, lawyers and ASX. Option holders must exercise before the record date to share in the distribution.
27 July 2006director officer appointment● Neutral
Geoff Clifford joined as non-executive director and Finance Director of Jupiter Biofuels, and will take over company secretary duties for the planned biofuels spin-off. He is also chairman of Sino Gas and Energy.
26 July 2006material agreement▲ GoodMajor
Malaysian regulator MIDA approved a 250,000 tonne-a-year biodiesel plant at Kuantan, on a 30-year, 6-hectare port lease. Jupiter plans to spin off Jupiter Biofuels to shareholders and have it raise A$70m at 50 cents a share, leaving Jupiter holders about 36%.
28 Apr 2006investor presentation● Neutral
Broker presentation on the biodiesel project, repeating the $5m raising at 12.5 cents; the meeting is expected on 9 June. It targets a feasibility study by September and a plant at Kuantan, Malaysia. Cash is about $1.5m.
19 Apr 2006capital raising announcement● NeutralMajor
Plans a larger raising: 40 million shares at a minimum of 12.5 cents for $5m, with one free option (8 cents, expiring 31/12/08) per five shares. Subject to shareholder approval at a June meeting; funds are for Jupiter Biofuels and new acquisitions.
3 Apr 2006capital raising announcement● NeutralMajor
Placement of 9.5 million shares at 6 cents to raise $570,000 before costs, for working capital. Offered to sophisticated investors and interests associated with Petroleum Ventures; no shareholder approval needed.
What it means for a shareholder
9.5m new shares at A$0.060 to raise about A$570,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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