something doesn't stack up, page-2

The problem with "cut and run" approach is a lack of volume. Nobody is buying. If you want to sell you must lower your ask price.

The fundamental numbers are marginal at 400bopd. But their is HOPE of an increase with use of pump. GoodOil(currently suspended??) has opinions based on other wells in the area and believes it may struggle to increase. Time will tell.

The more concerning thing is the company went through $13mil plus this last 12months.

In that time they only re-entered NWZ2 well and drill/completed J50 well.

Althought they budgeted $6.5mil for J50, it would seem they have gone way over or drink expensive coffee.

The Russian are an unknown variable. What are their intentions? We know they want to make money, but at whose expense?

With them onside and helping the current management things could get back on track. But they could also make a cheap play to gain 100% control.

The Russians have form. They previously did a similar bailout. They made a huge profit but the average holder made only modest gains over the same period.

The positive is they have $15mil in cash(soon). They can drill two more wells. Then they will have 3 plus a bonus from NWZ2 if its good.

With 3wells @435bopd plus NWZ2, lets say 1500bopd. After all the taxes and charges in Kazakh, JPR get about $30.

1500x30x30 = $1.35mil / month (no down time)

So after 5months they can fund another well.

With each well, the timeframe before they drill another will shorten. They will reach critical mass and be generating large amounts of cash and at 5x PE will be rewarding.

But that is someway off.

Also J50 took 9moths to complete and all wells need to sell oil for first 90days at 1/3rd of spot price. Which has been $22.50bbl

It just delays the earning capability by few months.