Past year: ▼ 50%(1.50c – 3.00c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
11 Jan 2024resource reserve update▲ GoodMajor
Independent Sproule report (effective 31 Dec 2023): proved reserves 14.69m barrels, proved plus probable 36.49m, and proved, probable plus possible 46.80m, all 100% Jupiter. After-tax value is ~US$180m versus ~US$31m enterprise value. First report since 2013.
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.
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.
25 Feb 2015drilling result▲ GoodMajor
Well 19 reached 3,068m, with logs showing hydrocarbons: ~84.6m net pay in the Mid Triassic T2B and ~10.4m in T2A. It will be briefly tested, then shut in with the other Akkar East wells until domestic oil prices recover.
30 Dec 2014drilling spud▲ GoodMajor
Well 19 spud on 26 December (text says 2015, evidently a typo for 2014), targeting the mid-Triassic at 3,350m in about 60 days. Starting the well meets all 2014 work commitments under the Block 31 licence contract.
25 Nov 2014drilling scheduled● Neutral
Well 19, the Akkar East well between J-51 and J-52, now has its drilling contractor mobilising. Spud is expected mid-December, with about 60 days to reach target depth in the mid-Triassic. It would go straight onto trial production if successful.
4 July 2014resource reserve update▼ BadMajor
State approved West Zhetybai preliminary reserves of ~27.0 mmbbl C1+C2 (C1 4.0, C2 23.0), well below RES's 61.2 mmbbl in September 2013. It opens the trial production licence process for J-55, J-58 and J-59, but at least two more appraisal wells are needed, subject to funding.
11 Sept 2013resource reserve update▲ GoodMajor
Independent Kazakh-method estimate puts Block 31 C1+C2 reserves at about 102.5 mmbbl, versus 37 mmbbl approved in 2012; Akkar East ~41.2 mmbbl, southern area ~61.2 mmbbl. McDaniel's PRMS report gives mid-Triassic 2P of 19.2 mmbbl. State approval is pending.
28 Feb 2013drilling result▲ GoodMajor
J-59 reached 3,191m with ~42.8m net pay in T2B and ~40.4m in T2A. With J-55 and J-58, the company says this separate southern structure may hold up to 30 mmbbl of potential resources. Flow testing of up to 90 days follows.
4 Dec 2012drilling result▲ GoodMajor
J-58 reached 3,320m in 37 days, ahead of schedule. Logs show 75.6m net pay in the T2B zone and a further ~52m in T2A. It sits on a separate structure from Akkar East, with up to 10 mmbbl pre-drill potential. Up to 90 days of flow testing follows.
22 Oct 2012drilling spud● Neutral
J-58, the sixth well, spudded on 21 October 2012, ~3.8km southeast of J-55 and targeting up to 10 mmbbl of potential resources. It is the first well under the licence extension to December 2014. Planned depth ~3,400m, about 60 days to casing.
5 Oct 2012drilling result▲ GoodMajor
J-55 reached 3,400m in 55 days; logs show hydrocarbons, with 112m gross reservoir and ~60m net pay in the Mid Triassic. It is mapped as a separate structure from Akkar East. Up to 90 days of flow testing follows; this resolves the J-55 drilling thread.
6 Aug 2012drilling spud▲ GoodMajor
J-55 spudded on 5 August 2012, the final commitment well under the current exploration licence. It targets the southern extension, which may hold up to 10 mmbbl of potential resources. Planned depth is ~3,400m and drilling should take about 60 days.
7 June 2012resource reserve update▲ GoodMajor
Kazakhstan's State Reserves Committee approved C1+C2 reserves of ~37 mmbbl for the four wells, versus Senergy's 24 mmbbl 2P (Triassic only); the board cautions the figures are not comparable. The exploration licence is extended to December 2014. J-53's frac hit water, so a workover is planned in Q3.
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.
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.
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.
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.
4 Jan 2011drilling result▲ GoodMajor
J-52 logs indicate oil in two zones: about 60m net pay in the Mid Triassic (same reservoir that flowed in J-50) and about 5m in the Z Sand. Both cores contained movable oil. Production testing is planned from late January 2011.
29 Dec 2010drilling progress report● Neutral
J-52 reached total depth of 3152m on 27 December, 54 days after spud. A further core was cut and shows were seen to 3096m. Wireline logs are running; the well will be cased and suspended if results look potentially economic.
22 Dec 2010drilling progress report● Neutral
J-52 is at 2992m with hydrocarbon shows and gas peaks in sandstones below 2849m. A 9m core from 2855-2864m was fully recovered with shows along its length. Drilling continues toward about 3100m, then logging.
17 Dec 2010drilling progress report● Neutral
J-52 has reached 2855m after 43 days, with hydrocarbon shows in the 8.5-inch section and formation tops close to prognosis. A core is being cut before drilling toward the Middle Triassic. No test result yet.
18 Nov 2010drilling progress report● Neutral
J-52 is at 857m and on schedule. NWZ-2 work is suspended until J-52 evaluates the Jurassic zone, delaying NWZ-2 production from the November expectation. New Aktau hires include a Chief Geologist, Chief Financial Manager and Head of Contracts and Legal.
4 Nov 2010drilling spud● NeutralMajor
J-52, the 2010 commitment well southeast of the J-50 discovery, has spudded in Block 31. It targets Jurassic and Middle Triassic reservoirs to about 3200m and should take ~70 days. A workover rig will flow test it if successful.
6 Oct 2010drilling scheduled● NeutralMajor
J-50's three-month test ended 31 August and the well is shut in pending a Trial Production Licence, which will take months. J-51 is postponed, so exploration well J-52 is now the 2010 commitment well, awarded to FracJet and due to spud early November. NWZ 2 test production is expected in November.
13 July 2010resource reserve update▲ GoodMajor
An independent review by Reservoir Evaluation Services added 37 mmbo of Triassic P50 resource north of J-50. Block 31 Triassic and Jurassic now total ~80 mmbo, up from 43 mmbo. JPR is in talks with parties about investing in development; J-50 is producing 360 bopd.
27 Apr 2010resource reserve update▲ GoodMajor
J-50 net pay was revised up 28% from 43m to 55m in a 120m column, confirmed by an independent third party. Casing is cemented; J-51 turnkey tender opened, with results around 17 June.
23 Apr 2010drilling progress report● Neutral
J-50 logging is done and production casing is being run. Initial flow rates are still expected by end of April.
