cash position, page-44

I agree with you good oil, i have seen and read about max petroluem. JPR is a good short term play, however, i am very vary of the stock as a long term play, to many possible negative events could occur eg production testing doesnt meet targets, government delays in approval processes, building times for connection to grid, or oil storage facilities, potential water cut issues in the future, natural field decline, general time delays and funding issues for development.
Short term drilling success usually causes the share price to rise, of which i will be a happy person never to return.

As with your estimates for cash position, i hear where you are coming from, but like i have said before, my belief is after all costs of the drill they would have about 1m in the bank, and over the last four months one can presume they have spent on corporate cost around the 200k to 300k mark. Therefore balance would not cover production testing, and therefore a capital raising will be taken. That will be my signal to sell, as directors will believe the high point in the share price is behind them