Past year: ▼ 50%(1.50c – 3.00c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 June 2008asset acquisition disposition▲ GoodMajor
MoU to buy 50% of the North West Zhetybai oil field for US$26m, with partner SIF Verniy Activ, targeting 4,000 barrels a day by end-2009. Needs US$32m raised, due diligence and shareholder approval. Follows the earlier oil-field MoU; 3P reserves put at 36m barrels.
25 June 2008asset acquisition disposition▲ GoodMajor
Block 31 settled: JPR now owns 100% of the 100+ sq km Mangistau Basin permit, resolving the delayed purchase begun in 2007. Fully funded 3D seismic starts shortly, with drilling expected in Q1 2009. Block 32 application is progressing.
13 June 2008security holder rights change● Neutral
Incentive options agreed for Ole Udsen, Keith Martens and Sergey Sinitsin: 10m each, 8c exercise, expiring 30 June 2011, vesting 25% after 12 months and 75% after 24. First 15m issued under the 15% placement capacity, no shareholder vote needed.
19 May 2008capital raising announcement▲ GoodMajor
Book build completed for a $7.6m placement of 100m shares at 7.5c plus 100m listed options at 0.1c, led by Indian Ocean Capital. Subject to shareholder approval on 21 May; funds the Block 31 acquisition, meeting the A$6m condition.
12 May 2008director officer appointment▲ Good
Ole Udsen, former COO of Max Petroleum, joins as Kazakhstan Country Manager; Sergey Sinitsin joins for business development. Roadshow begins for the capital raising to be voted on at the 21 May meeting. Presentation attached; term sheets for two acquisitions expected in May.
30 Apr 2008quarterly activities report● NeutralMajor
March 2008 quarter: repeats the Block 31 addendum (settle by 30 June, A$6m raise needed) and Block 32 deal. JPR has told Lakes Oil it will not continue in PEP 163, forfeiting its 50% Otway Basin interest, ending that thread. Aims to close an oil-field deal by September.
17 Apr 2008other● Neutral
Administrative notice: JPR has moved to new Perth offices at Exchange Plaza, with new phone and postal details. No substance for shareholders.
11 Apr 2008material agreement● NeutralMajor
Agreement with Zher Munai and Biskra to seek about 25 sq km extra acreage (Block 32) between Block 31 and the NW Zhetybai field. If granted, JPR pays Biskra US$3.5m. Term up to 270 days from Block 31 settlement.
26 Mar 2008material agreement▼ BadMajor
Block 31 deal reworked: an addendum gives JPR until 30 June 2008 to settle, conditional on raising at least A$6m of new equity. JPR pays late penalties (max about US$276k). If it fails, the US$500k deposit is lost. Contradicts the December 'completed' report.
31 Jan 2008quarterly activities report▼ Bad
December 2007 quarter: Block 31 settlement still not finalised despite the 17 December waiver. Board admits some other oil-field deals failed on acceptable terms and says it must complete one soon. Cash about $6m; 235.8m shares on issue.
17 Dec 2007farm in farm out completion▲ GoodMajor
First Kazakhstan acquisition, Block 31, completed after shareholder approval and the KazMunaiGas waiver. A non-binding MoU is signed for a significant interest in an existing oil field, completion expected within two months. 3D seismic to start early 2008; management sees potential for 20m barrels.
26 Oct 2007quarterly activities report● Neutral
September 2007 quarter: US$500k deposit paid on Block 31, sale agreement signed 8 October, shareholder vote due 15 November. Keith Martens appointed technical consultant; talks advancing on buying an interest in an oil field with existing reserves. No completion yet.
23 Oct 2007annual report● Neutral
Glossy version of the 2007 annual report, with the same chairman's letter as the 28 September statutory accounts. Repeats the move from biodiesel to Kazakhstan and the July board changes. No new information.
8 Oct 2007asset acquisition disposition▲ GoodMajor
Binding sale agreement signed for the Mangistau Basin permit (Block 31) with vendor Zher Munai & K, LLP: 16m shares plus US$6m cash. Needs government waiver and shareholder approval at the 15 November AGM; deposit refundable if not completed in 3 months. Seismic planned, drilling likely Q2 2008.
28 Sept 2007annual report● Neutral
Annual report for the year to 30 June 2007. Chairman describes a year of two halves: the failed biodiesel effort, then the Kazakhstan pivot, with the share price moving from 4c to a high of 35c. Retells known events.
31 July 2007quarterly activities report▲ Good
June 2007 quarter: all placements approved on 7 June and completed, leaving about $7.6m cash and 235.6m shares. Management visited Almaty; the Kazakhstan permit term sheet of 3 July is repeated. Nothing new beyond known events.
31 July 2007quarterly activities report● Neutral
June 2007 quarter cash statement: cash rose to $7.61m from $3.04m after $4.8m of share issue proceeds. Operating outflow $204k; $500k exploration spend expected next quarter. No debt.
23 July 2007other● Neutral
RM Capital has started research coverage of Jupiter and its initial report is on the company website. No new company information about assets or finances.
9 July 2007director officer appointment● NeutralMajor
Andrew Childs joins as non-executive director. Chairman Eddie Smith and director David Quinlivan resign, both on board since early 2005. Geoff Gander becomes Executive Chairman; the board is now Gander, Childs and Erkin Svanbayev (Almaty-based).
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.
20 Apr 2007quarterly activities report● Neutral
March 2007 quarter cash statement: cash fell to $3.04m, with $253k net outflow including a PEP 163/164 cash call refund of $77k. No debt; $50k exploration spend expected next quarter.
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.
