Past year: ▼ 50%(1.50c – 3.00c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
23 Apr 2020quarterly activities report▼ Bad
March quarter: only ~8,500 barrels sold for ~US$117,000 (~US$14/bbl) after three weeks of production in March; cash receipts were nil. Akkar East remains shut awaiting commercial production approval. A new prepayment contract is finalised and Aktau staff are cut to ~25.
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.
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 Jan 2020quarterly activities report▼ Bad
December quarter: ~65,000 barrels sold for ~US$1.83m (~US$28/bbl); all wells shut in on 29 Dec 2019 pending approvals. All 2015-2017 work program fines are resolved. Silfia Morton replaces Edward Meagher as CFO. Acid stimulation of J-50 and J-58 is planned if funding allows.
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 Oct 2019quarterly activities report▼ Bad
September quarter: ~69,000 barrels sold for ~US$1.878m (~US$27/bbl) from five wells. J-53 side-track and J-60 drilling are deferred to 2020. Licence extensions are still pending, and wells may shut in from 29 Dec 2019 if delayed. Debt is about US$53.94m.
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.
31 July 2019quarterly activities report● Neutral
June quarter: ~67,150 barrels sold for ~US$2.16m (~US$32/bbl) from five wells including J-50. J-59 workover shows promise; J-53 side-track and J-60 drilling are planned for Q4 2019. KASE delisting is complete; licence extension talks continue and the fine is being appealed.
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.
30 Apr 2019quarterly activities report● Neutral
March quarter: ~61,200 barrels sold for ~US$1.66m; J-50 resumed in March after more than four years shut in. J-57 testing found no economic hydrocarbons. KASE delisting is planned by end-June, and talks have begun on extending the licence beyond 29 Dec 2019.
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.
23 Jan 2019quarterly activities report▲ Good
December quarter: ~72,000 barrels sold for ~US$2.32m (~US$33/bbl), mostly from J-58 (46,000 bbl). J-57 reached 3,210 m with oil indicated on logs; testing is due February 2019. All J-50 approvals are received, with restart in Q1 2019.
30 Oct 2018quarterly activities report▲ Good
September quarter: 40,750 barrels sold for ~US$1.39m (~US$34/bbl). J-58 started producing in September (~500 bbl/day) and J-57 spudded in early October, funded by a US$2m loan repaid from J-58 oil. J-50 restart slips to Q1 2019.
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.
31 July 2018quarterly activities report▲ Good
June quarter: 30,140 barrels sold for ~US$940,000. J-58 workover is done, with production expected from August; J-50 is expected back in Q4 2018. Drilling of the J-57 well is planned for Q4 2018, with funding still to be arranged. Debt is ~US$46.2m, now due 2020.
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.
20 Apr 2018quarterly activities report● Neutral
March quarter: 28,310 barrels sold for ~US$910,000 (~US$32/bbl) from J-51, J-52 and Well 19. Debt is US$44.3m; cash ~A$272,000. Funding is sufficient to June 2018, or September with the 2016 facility. Phil Warren joins as director; new CFO and company secretary appointed.
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.
19 Jan 2018quarterly activities report▲ Good
December quarter: J-51, J-52 and Well 19 produced, with about 27,000 barrels sold for ~US$700,000 (~US$26/bbl). Debt is US$43.3m; cash ~A$900,000. Working capital lasts to March 2018, or May 2018 with remaining 2016 facility funds. J-58/J-59 now expected in the first half of 2018.
