Past year: ▼ 50%(1.50c – 3.00c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Apr 2012material agreement▲ GoodMajor
Two traders agreed to buy 6,000 tonnes at US$400/tonne (~US$58/barrel), fully prepaid; US$1.2m is received and US$1.2m is due. Net of ~US$6/barrel transport and storage, ~US$52/barrel versus US$42 earlier, a 22% increase.
24 Apr 2012production update▲ GoodMajor
Trial production has started from J-50 and J-52 under their licences, expected at ~600 bopd combined, trucked to third-party storage. This resolves the long wait; it came in April 2012, later than the end-2011 expectation. J-51 and J-53 licence applications are being prepared.
29 Mar 2012other● Neutral
finnCap Ltd replaces Evolution Securities as Jupiter's AIM nominated adviser and broker, effective immediately. Administrative change, five months after admission.
16 Mar 2012half year report● Neutral
Half-year report to 31 December 2011: loss A$2.02m, cash A$4.6m, and 11,739 barrels produced. All four Block 31 exploration wells have been discoveries. J-55 is the final commitment well, to spud in 2012. Cash is well below the ~A$14m at 30 June.
25 Jan 2012drilling result▲ GoodMajor
J-53, the fourth exploration well on Block 31, reached 3,113m after 58 days, with hydrocarbons indicated in the Mid Triassic and 87m gross and 56m net pay. A 90-day flow test follows, and a new reserves report is due in Q2 2012.
18 Jan 2012admin correction● Neutral
Competent Persons Statement for the 2011 annual report, filed at ASX's request for completeness. It names Senergy for the Triassic reserves and prospective resources and RES for the P50 prospective resource. No new results.
21 Dec 2011production update▲ GoodMajor
J-51 is stabilised at 630 bopd on a 9mm choke, above the ~500 bopd expected on 28 November. J-53 was at 1,661m on 20 December. J-50/J-52 production still awaits final flaring permits. An updated reserves submission is planned for late Q1 2012.
8 Dec 2011security holder rights change● Neutral
New company constitution released after shareholders passed Resolution 5 at the 28 November AGM. Mostly administrative, but includes new proportional takeover and share-interest disclosure clauses and a minimum shareholding clause.
28 Nov 2011production update▲ GoodMajor
J-51 began its 90-day production test at 340 bopd, constrained by rain-damaged roads; about 500 bopd stabilised is expected. Oil is sold to two domestic traders at ~US$42/barrel. J-53 spudded 25 November, targeting up to 10 mmbbl of potential resource at ~3,200m.
11 Nov 2011other● Neutral
Notice that Jupiter is presenting at the Oilbarrel Conference in London on 10 November 2011, with slides on its website. No new information.
10 Nov 2011investor presentation● Neutral
Oilbarrel conference presentation repeating known facts: 2P reserves of 24.2 mmbbl, net cash US$11.7m at 30 September, ~116m shares, and a target of 4,000 bopd by 2015. The presentation lists SNG at 49%, which looks inconsistent with earlier records (inference: possibly a typo).
10 Nov 2011listing compliance notice▲ GoodMajor
Jupiter's 115,863,487 shares were admitted to London's AIM on 9 November 2011 under JPRL, alongside the ASX listing. This completes the planned dual listing. J-53 is expected to spud by end November, and J-50/J-52 production before year end.
26 Oct 2011annual report● Neutral
2011 annual report, re-lodged in full. The chairman's letter repeats the Senergy upgrade of 2P reserves from 8.6 to 24.2 mmbbl, the ~A$11m May placement, Waterford at ~30% and the Block 31 extension. Text is truncated; no new information visible.
14 Oct 2011listing compliance notice● Neutral
AIM admission documents are published, with admission expected 9 November 2011 under ticker JPRL. Halyk Finance has begun research coverage. This continues the planned London dual listing.
5 Oct 2011other● Neutral
Notice of a Boardroom Radio webcast with Geoff Gander on the granted trial production licences. No new information.
3 Oct 2011material agreement▲ GoodMajor
Kazakhstan's Central Development Committee approved Trial Production Licences for J-50 and J-52, ending the long wait, with production expected before end 2011. J-51 shows 83m net pay. A US$3.45m, 15% convertible note from Soyuzneftegas is agreed, and AIM listing is planned.
26 Sept 2011annual report● Neutral
Annual report for the year to 30 June 2011. The chairman's letter recaps the Senergy upgrade to 24.2 mmbbl, the ~A$11m placement, Waterford at ~30% and the Block 31 extension. The financial detail is truncated here.
23 Sept 2011drilling progress report▲ Good
3D seismic acquisition over 140 km2 of the extended Block 31 finished ahead of schedule on 21 September, meeting the work commitment over a year early. Processing is due by mid-December, and Jupiter expects at least one 2012 well there.
22 Sept 2011drilling result▲ GoodMajor
J-51 reached total depth of 3100m on 18 September after 50 days, with hydrocarbons indicated in the Mid Triassic by mud and wireline logs. Casing, stimulation and up to 3 months of flow testing come next. No flow rate yet.
30 Aug 2011drilling progress report● Neutral
3D seismic acquisition has started over the Block 31 extension, taking about 4 weeks, with 6 months of processing to follow. Jupiter plans to put a 2012 well location in the extension area if the data supports it.
18 Aug 2011security holder rights change● Neutral
Shareholders approved the 15-for-1 share consolidation. Deferred settlement trading began 16 August under ticker JPRDA, with normal trading under JPR resuming 30 August 2011. Administrative notice.
8 Aug 2011director officer appointment● Neutral
Gamal Kulumbetov, with over 13 years in the sector, joins as Managing Director of Jupiter Energy (Kazakhstan), based in Aktau. He will run Block 31 operations and set up an oil sales division.
1 Aug 2011drilling spud● NeutralMajor
J-51, the 2011 commitment well in the Akkar East structure, spudded on 30 July 2011. It targets about 3200m in roughly 60 days and tests the Triassic and Jurassic. It sits 2 km from J-50 and 1.7 km from J-52.
13 July 2011asset acquisition disposition▲ GoodMajor
The Ministry of Oil & Gas approved extending Block 31 by 59.29 km2 to 122.68 km2, on the same fiscal terms. Jupiter must shoot 3D seismic there by end 2012, estimated at US$2.4m. This resolves the long-pending extension application.
4 July 2011production update▲ Good
J-52's 90-day Triassic test is done and its reserves were approved by the Kazakh Geological Committee. J-52 Jurassic completion has started, J-51 is due to spud in July, and cash was about A$14.5m at 30 June.
30 May 2011capital raising announcement▲ GoodMajor
The placement closed: 226.5m shares at 4.9c raised about A$11.1m before roughly A$282,000 of costs. J-52 Triassic flow testing is nearly complete, and Z-sand (now confirmed Lower Jurassic) testing is expected in June.
What it means for a shareholder
227m new shares at A$0.049 to raise about A$11.1m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (20,408 at the issue price), your slice goes from 0.00135% to 0.00117% of the company. To keep it you'd need 3,058 more shares - about A$150 at the issue price.
Create a free account to see this worked out for your own holding.
18 May 2011capital raising announcement● NeutralMajor
Jupiter plans to raise up to A$11.1m by placing up to 226.5m shares at 4.9c to institutions, equal to the prior close. Waterford rises to 29.77%. Funds are for the Block 31 programme, including 3 new wells.
What it means for a shareholder
227m new shares at A$0.049 to raise about A$11.1m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (20,408 at the issue price), your slice goes from 0.00135% to 0.00117% of the company. To keep it you'd need 3,058 more shares - about A$150 at the issue price.
Create a free account to see this worked out for your own holding.
27 Apr 2011regulatory community update▼ BadMajor
J-50's Trial Production Licence is held up: the State Reserves Committee wants a joint production plan, possibly unitisation, with neighbouring Akkar North owner MMG, with no timeline. J-52's reserves report is due Q2 2011 and is not expected to be affected.
6 Apr 2011security holder rights change● Neutral
UK CREST members can now hold JPR shares as depository interests issued by Computershare, without stamp duty reserve tax. Administrative step that supports the planned UK investor base; no change to the shares themselves.
5 Apr 2011resource reserve update▲ GoodMajor
Senergy's independent review lifts Block 31 Middle Triassic 2P reserves from 8.6 to 24.2 million barrels, after the J-50 and J-52 results, with a 9.9 million barrel prospective resource in the south east. Z-sand testing is expected in Q3 2011.
