Past year: ▼ 50%(1.50c – 3.00c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
13 July 2010resource reserve update▲ GoodMajor
An independent review by Reservoir Evaluation Services added 37 mmbo of Triassic P50 resource north of J-50. Block 31 Triassic and Jurassic now total ~80 mmbo, up from 43 mmbo. JPR is in talks with parties about investing in development; J-50 is producing 360 bopd.
5 July 2010other● Neutral
Westhouse Securities has started research coverage of JPR, with an 11-page report available to its clients. No new company information.
25 June 2010other● Neutral
Notice of an audio broadcast with MMD David Thorpe titled 'Jupiter Hits Commercial Oil Production'. No new information.
23 June 2010other● Neutral
Patersons Securities has started research coverage of JPR and released its first note. No new company information is given.
23 June 2010production update▲ GoodMajor
After re-completion and an acid clean-up, J-50 is on its long-term production test at stable ~435 bopd, with peaks above 600 bopd. Sales continue domestically; the test runs to early September, and the Trial Production Licence documents are being prepared. NWZ 2 is being brought onto test.
18 May 2010material agreement● NeutralMajor
JPR settled the US$1.975m still owed to Biscra (Block 31 extension advisory fee) with 28.29m shares at 6.5c plus US$320,000 cash. Only A$4.65m of the A$6.5m placement was raised (71.6m shares); JPR says the settlement leaves it in the same position as a full raise.
10 May 2010well test result● Neutral
JPR says the 220 bopd rate was under restricted flow during clean-up and is not the expected long-term rate. Stimulation is planned and a sustainable rate will be announced later.
7 May 2010production update▲ GoodMajor
JPR made its first commercial oil sale, 183 barrels from J-50, which is flowing 220 bopd on a 10mm choke. The company says it has moved from explorer to producer; sales are into the domestic market.
4 May 2010flow test result▲ GoodMajor
J-50 was perforated over 120m and flowed oil to surface during clean-up at an initial rate of about 750 bpd. JPR says the data is limited, with stable rates expected later in the week before a 90-day production test.
30 Apr 2010quarterly activities report▲ Good
March quarter report calls J-50 a commercial discovery with 55m net pay; initial flow rates are due 4 May after a trading halt. It records 786.2m shares on issue after the 9 April meeting, and NWZ 2 flow rates are expected in June.
27 Apr 2010resource reserve update▲ GoodMajor
J-50 net pay was revised up 28% from 43m to 55m in a 120m column, confirmed by an independent third party. Casing is cemented; J-51 turnkey tender opened, with results around 17 June.
23 Apr 2010drilling progress report● Neutral
J-50 logging is done and production casing is being run. Initial flow rates are still expected by end of April.
20 Apr 2010capital raising announcement▲ GoodMajor
JPR raised A$6.5m by placing 100 million shares at 6.5c, largely with UK and Australian institutions, to bring forward J-51, NWZ 2 testing, infrastructure and new acreage. Initial logs show 43m of net pay in J-50 at a total depth of 3156m.
What it means for a shareholder
100m new shares at A$0.065 to raise about A$6.5m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (15,385 at the issue price), your slice goes from 0.00196% to 0.00174% of the company. To keep it you'd need 1,964 more shares - about A$128 at the issue price.
Create a free account to see this worked out for your own holding.
20 Apr 2010other● Neutral
Notice of an audio broadcast with Geoff Gander on the 43m net pay and capital raising. No new information.
14 Apr 2010regulatory community update● Neutral
JPR plans to finish J-50 drilling by end of April, then production test, with a trial production licence hoped for July-August 2010. It has relinquished about 65 sq km of Block 31 deemed not prospective and is seeking new acreage.
9 Apr 2010drilling progress report▲ Good
Coring finished with 54.3m of core recovered; 120m of Middle Triassic reservoir intersected as prognosed. J-50 at 3059m drilling to about 3250m total depth.
6 Apr 2010drilling progress report▲ Good
J-50 at 3030m with 91m of reservoir intersected and hydrocarbon shows in all cores. JPR expects initial flow rates in April, then a 90-day production test.
1 Apr 2010drilling progress report▲ Good
J-50 at 3012m with third core cut; 73m of Middle Triassic reservoir intersected. Next update due 6 April after the Easter break.
29 Mar 2010drilling progress report▲ Good
Second core cut with full recovery and hydrocarbon shows; J-50 drilling at 2990m. 53m of Middle Triassic reservoir now intersected.
29 Mar 2010investor presentation● Neutral
Corporate presentation for 29-31 March repeats known facts: Senergy's Triassic 8.6 mmbbls 2P and 12.2 mmbbls prospective, JPR's 22.2 mmbbls Jurassic view, and a target of commercial J-50 production in Q3 2010.
26 Mar 2010drilling progress report▲ Good
First of the planned 9m cores from J-50's Middle Triassic (2957-2966.5m) was fully recovered with mobile oil and gas seen. 27.5m of the expected 120m reservoir has been intersected; the well is 100% JPR.
25 Mar 2010other● Neutral
Notice of an audio broadcast with David Thorpe and Keith Martens on the J-50 oil discovery. No new information.
24 Mar 2010other● Neutral
Kazakhstan-based Visor Capital has begun research coverage of JPR. The 24-page report is available to its clients only. No new company information.
23 Mar 2010drilling result▲ GoodMajor
J-50 hit the Middle Triassic reservoir at 2939m, with 18m of oil shows, confirming an oil discovery in the primary target. JPR calls it a pivotal step from explorer to producer; the top came in about 19m low to the published top.
23 Mar 2010other● Neutral
Pursuit Capital has begun research coverage of JPR and released its first report. No new company information.
17 Mar 2010drilling progress report● Neutral
J-50 at 2872m while the bit is changed. The Middle Triassic primary target is still expected this week, with 5m to be drilled, then coring.
16 Mar 2010half year report● Neutral
Half-year report to 31 Dec 2009 reviews the NWZ 2 re-entry (expected 400-500 bopd) and J-50 spud, and confirms David Thorpe as Managing Director from 1 Jan 2010. Financial figures are not in the text provided.
16 Mar 2010drilling progress report▲ Good
J-50 reached 2867m. A 6m sandstone at 2855-2861m has good oil shows, and the Triassic A- marker came in 8m high to prognosis. The Middle Triassic primary target is still expected this week.
15 Mar 2010drilling progress report▲ Good
J-50 reached 2845m with more oil shows at 2798-2817m. The Middle Triassic target is expected this week, followed by at least two weeks of coring and logging. Updates may become daily.
12 Mar 2010drilling result▲ Good
Logs from 1200-2778m show a potential oil zone at 2705-2719m in the Jurassic XI, 14m gross (about 12m net). JPR calls it encouraging, ahead of full evaluation after reaching total depth. This is an interim result.
