good base building

Hello fellow Jupitorites,

Looking good in my opinion. Has held mid 6's in a jittery market. Volumes pretty reasonable, news due soon even if it's just "yes we have spudded as we said we would". That should help the base at these levels.

Mid/late January we should have news on the second well. Assuming positive this will be a real kicker to the price. Hopefully by then if not earlier we will have some more info on the first wells flow rates. They were conservatively positive at 500 bpd so if they confirm this or better it slightly as well as find some oil with the second hole then we should see a new base around late singles to 10c.

I would be extremely surprised if jpr don't get the production licences. Provided they meet requirements (no brainer youwould think) then why would the Kazak government knock back revenue in a known oil producing region?

Therefore by Feb we should have gone from a speccy to an (albeit small) producer. Exciting times.

A lot rides on the next hole however jpr has reiterated that they are targeting a low risk potential for this next one. The skin in the game by management is a reassurance, even if that provides no more certainty.

I'm quietly confident and happy to hold quite an overweight position. Good buying at mid 6's.

Cheers,

DK