23 Apr 2020other● Neutral
ASX again paused trading in Jupiter shares pending an announcement. This is a procedural notice with no company information; it follows the second price query.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
22 Apr 2020other● Neutral
ASX paused trading in Jupiter shares pending an announcement. This is a procedural notice with no company information; it relates to the price query lodged the same day.
22 Apr 2020price query● Neutral
ASX queried a jump in the share price from A$0.005 to A$0.027 on heavy volume. Jupiter said it knew of no undisclosed information explaining the trading and confirmed it was complying with the Listing Rules.
14 Apr 2020production update▲ GoodMajor
Reverses the 27 March shutdown: an improved prepayment deal with the local trader keeps J-50 and J-58 producing. Aktau staff fall from 37 to ~25 rather than ~7. The company says US$40/bbl is needed for longer-term sustainability and continued Noteholder support is required.
27 Mar 2020production update▼ BadMajor
Citing the coronavirus pandemic, the company will shut in all Kazakh oil production from 31 March 2020 and cut Aktau staff from 37 to ~7. Production resumes when oil prices strengthen. The board is in discussions with Noteholders.
16 Mar 2020half year report▼ BadMajor
Half-year to Dec 2019: loss A$35.4m (A$6.4m a year earlier), including a non-recurring A$32.6m impairment. Revenue A$4.84m on ~134,000 barrels. Cash A$687k; equity deficit deepened to A$60.2m from A$24.7m at June 2019.
10 Mar 2020regulatory community update▲ GoodMajor
Signed addendums extend trial production: J-50 (Akkar North) to end-Dec 2020 and J-58 (West Zhetybai) to early Sept 2021; both wells restarted. This resolves the licence-extension thread. Akkar East stays shut, and approved gas emissions may constrain output. Aktau staff are cut.
31 Dec 2019regulatory community update▼ BadMajor
All wells were shut in at the 29 Dec 2019 licence expiry. J-50 and J-58 await signed extension addendums. Akkar East's Final Reserves Report is approved, but J-51, J-52 and 19 stay shut until gas-flaring approval for commercial production is granted.
30 Sept 2019annual report● NeutralMajor
Year to 30 June 2019: production ~241,000 barrels (up ~270%) and revenue A$8.96m (up 207%). The chairman warns the licence extension, due by 29 Dec 2019 under a new subsoil code, may not be settled in time. AGM is 27 November 2019.
30 Sept 2019admin correction● Neutral
Appendix 4G governance checklist for the year to 30 June 2019, pointing to the statement on the company website. Administrative filing with no new information.
20 Sept 2019regulatory community update▼ Bad
Jupiter was ordered to pay the ~US$900,000 fine despite its appeal, and has now paid it in full. This continues the July fine; the appeal outcome is still pending, and any recovery depends on it.
23 July 2019regulatory community update▼ BadMajor
Kazakh Ministry of Energy fined Jupiter about US$900,000 for under-performing its 2015 work program. The company has appealed and will provide for the full amount. Waterford has committed to provide the funds if the appeal fails.
23 Apr 2019drilling result▼ BadMajor
J-57 testing found the T2B reservoir water-wet (~3,600 bbl/day of water), probably due to a fault seal; the T2A flowed slowly. The well will be plugged. A new US$3m prepayment will fund J-60 and a J-53 side-track in the second half of 2019.
18 Mar 2019half year report▼ Bad
Half-year to Dec 2018: ~112,750 barrels produced and A$4.13m revenue (A$678k a year earlier). Loss widened to A$6.41m (A$3.26m); cash A$1.63m. Equity deficit deepened to A$22.8m from A$14.3m at June 2018.
1 Oct 2018annual report▲ Good
Year to 30 June 2018: production returned from late September 2017, reaching ~90,000 barrels and almost A$3m revenue. The chairman expects J-58 in September and J-57 drilling in Q4 2018 to lift output toward 2014 levels (A$9m revenue, 230,000 barrels).
1 Oct 2018admin correction● Neutral
Appendix 4G governance checklist for the year to 30 June 2018, pointing to the statement on the company website. Administrative filing with no new information on operations or finances.
29 June 2018debt financing▲ GoodMajor
Holders of all five promissory notes agree to extend repayment from 1 July 2018 to 1 July 2020, other terms unchanged. This removes the near-term maturity on the roughly US$46m debt and gives time to find development funding.
5 Apr 2018director officer appointment● Neutral
Scott Mison resigns as executive director, CFO and company secretary effective 20 April 2018. Geoff Gander becomes joint company secretary in the interim while a replacement is sought.
19 Mar 2018half year report● Neutral
Half-year to Dec 2017: the company returned to production, with ~25,600 barrels and A$677,989 revenue. Loss was A$3.26m (A$6.28m a year earlier); cash A$939,747. Equity is a deficit of A$8.9m versus A$3.6m positive at June 2017. J-50 awaits its licence.
31 Oct 2017quarterly activities report▲ GoodMajor
Production restarted: J-51 flowed from 28 September 2017 and ~460 tonnes (~3,200 barrels) were sold at about US$19.60/bbl, with a US$323,000 prepayment. J-52 opened 28 October; Well 19 follows. Debt is US$41.2m; AIM delisting is complete.
2 Oct 2017admin correction● Neutral
Appendix 4G corporate governance checklist for the year to 30 June 2017, pointing to the governance statement in the annual report (pages 21-26). Administrative filing with no new company information.
2 Oct 2017annual report● Neutral
Year to 30 June 2017: wells stayed shut all year and the company ran on care and maintenance, funded by its major shareholder's debt. The chairman cites the licence renewals to 2019 and the Akkar North win, and plans a return to production in Q4 2017.
12 Sept 2017director officer appointment● Neutral
Alexander Kuzev, an adviser to the board since January 2017, joins as non-executive director. CEO Geoff Gander's new contract cuts his fee to GBP200,000 after the AIM delisting, adds a sale bonus of US$350,000 or 0.5%, and lets him chair Zyber part-time.
31 July 2017quarterly activities report▲ GoodMajor
Ministry signed Addendum 8 on 10 July 2017, approving the 2017-2019 work program and trial licences to 29 Dec 2019. A new US$5m funding agreement (15%, due 31 July 2019) is signed with Waterford and Midocean. Restart expected Q4 2017; AIM listing to be cancelled.
28 Apr 2017quarterly activities report▲ GoodMajor
March quarter: the Akkar North reserves dispute with MMG is resolved in Jupiter's favour, clearing a path to return J-50 to production. An oil sales framework agreement is signed with an Aktau trader. Debt is US$37.7m; added Waterford funding is under discussion.
27 Feb 2017half year report▼ Bad
Half-year to Dec 2016: no production or revenue, loss A$6.28m (A$7.73m a year earlier), cash A$472,758. Equity fell to a deficit of A$143,346 from A$3.7m positive at June 2016, so liabilities now exceed assets.
2 Dec 2016director officer appointment● Neutral
Sergey Kostin, with 30 years in oil including 14 at Schlumberger, is appointed Head of Operations in Kazakhstan, based in Aktau. He will lead preparations to restart production in the first half of 2017.
30 Sept 2016admin correction● Neutral
Appendix 4G corporate governance checklist for the year to 30 June 2016, pointing to the governance statement in the annual report (pages 21-26). Administrative filing with no new company information.
30 Sept 2016annual report● Neutral
Annual report for year to 30 June 2016: wells stayed shut all year and no drilling occurred, with the company on care and maintenance funded by its major shareholder's debt. The chairman points to the licence extension to 2019 and hopes to restart production once trial licences are renewed.
19 Sept 2016regulatory community update▲ GoodMajor
Ministry of Energy extends the Block 31 exploration licence three years to 29 December 2019 (Addendum 7), instead of the four years to 2020 applied for. A further year is possible if the company takes extra acreage. Trial production licences still need renewing; restart targeted early 2017.