re: Ann: JPR establishes Triassic flow rates ...
Yes, its very promising. Note its 750BOPD this time(not 750BPD like last time).
The $31/bbl for local sales is better than $22.50 last time too. Might even make $2/bbl after opex.
Not over the line yet. The acid wash only created short term boost with J50, but it seems different this time. Maybe they really are learning?
The concern is still the TPL. J50 still not granted. So what do we do with all this oil?
They are testing this zone for 90days, then isolating and moving up to Z sands for another 90days. Total 180days. Its awhile to wait. After that the well must be shut in unless they can get the TPL grant. The clock is ticking.
Over the next 90days its likely to drift lower IMO, as their wont be much news. The flow rate wont improve. It can only stay same or get worse. I'd list on AIMs asap and make most of the high sp.
JPR Price at posting:
82.5¢ Sentiment: Hold Disclosure: Held
