Past year: ▼ 50%(1.50c – 3.00c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Mar 2022half year report▼ Bad
Half-year to 31 December 2021: loss of A$7.33m (versus a A$5.61m profit a year earlier), including a A$3.23m unrealised foreign exchange loss on notes. About 52,200 barrels produced. West Zhetybai approvals now expected in 4Q 2022, later than the earlier mid-2022 target.
15 Mar 2022regulatory community update▲ GoodMajor
Jupiter lodged its 100% Gas Utilisation Plan with Kazakh regulators on 11 March 2022. Stage 1 is targeted for 4Q 2022, lifting output from ~225 to ~650 barrels a day. Funding is to be secured in 2Q 2022, helped by the debt restructure.
4 Mar 2022listing compliance notice● NeutralMajor
ASX pauses trading in Jupiter's shares pending a further announcement; no reason is given in the notice. The cause is not yet known.
4 Mar 2022debt financing● NeutralMajor
Jupiter agreed terms with all four noteholders to restructure ~US$69.92m of debt: 20% repaid in cash, 30% converted to shares and 50% written off. It needs a minimum A$35m raising, and at an illustrative A$0.04 price existing holders would fall to ~14.91% after the raise alone.
10 Jan 2022production update▲ Good
Production from Akkar North (East Block) and Akkar East resumes on 10 January 2022, and oil trucks can again reach the field. Resolves the shut-in of three days earlier.
7 Jan 2022production update▼ Bad
Jupiter shuts in production on 7 January 2022 because protesters blocked roads to the oilfield amid civil unrest in Aktau and a state of emergency. The company expects the shut-in to be temporary and revenue not materially affected.
30 Sept 2021annual report● Neutral
FY2021 annual report: ~155,000 barrels produced, revenue US$3.386m (~A$4m), a A$61,655 profit (versus a A$42.35m loss), cash A$690,949. Gas utilisation infrastructure is named the key goal; J-58 is shut in awaiting commercial licence approval, expected back by 2Q 2022.
30 Sept 2021debt financing▲ GoodMajor
Waterford and the three other noteholders agree to extend repayment of all outstanding notes from 1 July 2022 to 1 July 2024, easing the near-term debt deadline. Gas utilisation is now targeted by end of 2Q 2023. Resolves the July 2022 maturity thread.
30 Sept 2021other● Neutral
Corporate governance statement for the year to 30 June 2021: the board says it complied with the ASX principles. Five directors, one executive and four non-executive. Administrative, no new operating or financial information.
16 Sept 2021material agreement▲ GoodMajor
Jupiter signs a binding Framework Agreement with Sleipnir Technologies to develop a 100% gas utilisation plan for all three fields, to be lodged by early 1Q 2022, with at least 12 months to commissioning. Sleipnir affiliate Arion Trading will buy 100% of domestic oil, fully prepaid. Output could rise from ~225 to ~700 bbl/d.
16 July 2021production update▲ GoodMajor
June quarter: ~32,000 barrels sold for ~US$921,500 (~US$29/bbl). Final approval for Akkar North (East Block) came 14 July 2021 and J-50 resumed at ~50 bbl/d, resolving the long approval wait. West Zhetybai reserves report submitted; strategic review talks focus on a gas utilisation plan and drilling funding.
6 Apr 2021joint venture update▼ Bad
Strategic Review update: the Q1 2021 target for a preferred path has passed, and the board has yet to receive a detailed, binding offer. Operations continue unchanged. Contradicts the December expectation of a board decision in that quarter.
12 Mar 2021half year report● Neutral
Half-year to 31 December 2020 shows a profit of A$5.6m (versus a A$35.4m loss), helped by a A$9.76m unrealised foreign exchange gain on the promissory notes. Production was ~89,200 barrels (134,000 prior); revenue A$1.94m (A$4.84m prior). The profit is not from operations.
22 Dec 2020joint venture update▼ Bad
Jupiter says the VTB Capital Strategic Review will not conclude by year-end; several parties are in talks and a preferred path is expected to go to the board in Q1 2021. J-50 shuts at 29 December licence expiry; approvals expected to take at least 5 months.
9 Dec 2020resource reserve update▲ GoodMajor
The Kazakh Committee of Geology approves the Final Reserves Report for Akkar North (East Block), a key step toward commercial production. J-50 stays on trial licence to end-December, then shuts until Preparatory Period approvals; expected ~50 bbl/d (~30% of capacity). Resolves the early-November reserves thread.
16 Nov 2020director officer appointment● Neutral
Grange Consulting, which has supplied the Company Secretary and CFO roles since April 2018, steps down at the 24 November 2020 AGM. Fernville Group's James Barrie (Company Secretary) and Greg Hammond (CFO) take over; registered office and phone are to change.
9 Nov 2020director officer appointment● Neutral
Non-executive director Phil Warren (on the board since April 2018) will retire at the 24 November 2020 AGM. Mark Ewing, a chartered accountant and deputy chairman of TTA Holdings, joins the board that day.
7 Oct 2020annual report▼ Bad
FY2020 annual report: production ~174,000 barrels (241,000 prior), revenue A$5.63m. The chairman says second-half output fell to just over 40,000 barrels as Akkar East was shut in awaiting approval and domestic prices almost halved. Akkar North is to move to commercial production after December 2020.
1 Oct 2020annual report▼ Bad
Jupiter uses ASIC relief to delay its audited FY2020 accounts and lodges unaudited ones: revenue A$5.63m (A$8.96m prior), loss A$42.4m including a A$32.6m impairment, cash A$139k, and net liabilities of A$67.7m.
1 Oct 2020annual report● Neutral
Corporate governance checklist (Appendix 4G) for the year to 30 June 2020, pointing to the governance statement on the company website. Administrative filing with no new business information.
17 Sept 2020production update● Neutral
Clarifies the 15 September update: final Akkar East approval came 11 September. The three wells are expected at ~30% of capacity, about 135 barrels a day. Akkar North is to move to commercial production in Q1 2021 and West Zhetybai in Q4 2021. West Zhetybai needs at least 2 more wells.
17 Sept 2020price query● Neutral
ASX queried the share price rise from A$0.021 to A$0.105 on 15 September. Jupiter said it knew of no undisclosed information or other explanation, pointing to the same-day operations update, and confirmed Listing Rule compliance. Third such query this year.
15 Sept 2020production update▲ GoodMajor
Final approvals for Akkar East are complete and wells J-51, J-52 and 19 are producing again under the 'Preparatory Period'. Output is expected at only ~30% of capacity because gas must be used on the field. Staffing is increased. Resolves the long-awaited approval thread.
15 Sept 2020other● Neutral
ASX paused trading in Jupiter shares pending an announcement. Procedural notice with no company information; it relates to the price query lodged the same day.
21 July 2020material agreement● NeutralMajor
Jupiter begins a Strategic Review of its Block 31 acreage and hires JSC VTB Capital as adviser. Options include more debt, equity raising, restructuring, or selling part or all of the asset. Noteholder talks continue. Akkar East approval expected within weeks.
6 May 2020price query● Neutral
Jupiter says the 22-23 April spike (high A$0.345, ~12.5m shares traded) came from ~340 new small holders, apparently day traders following social media tips. It found no company-specific cause. Chairman Geoff Gander sold shares from his super fund on 23 April. Resolves the suspension.
6 May 2020listing compliance notice● Neutral
ASX lifts Jupiter's suspension from the start of trading on 6 May 2020, after the company's announcement on the abnormal trading. Procedural notice only; ends the suspension that began 28 April.
1 May 2020listing compliance notice● Neutral
Jupiter extended its voluntary suspension, as it is still in discussions with authorities and cannot yet explain the April trading. It now expects the suspension to end by 6 May 2020.
28 Apr 2020listing compliance notice▼ BadMajor
At Jupiter's request, ASX suspended trading from 28 April 2020 so the company could work with regulators on the abnormal trading of 22-23 April. It expected to announce by 1 May 2020.
23 Apr 2020price query● Neutral
A second ASX query noted the price rising from A$0.002 to A$0.35 intraday. Jupiter again could not explain the trading, said it would stay halted while working with regulators, and confirmed Listing Rule compliance. Continues the 22 April query.
