2p reserve valuation under $3 per barrel

It is worth remembering that at the current share price of $0.67 the company's in the ground 2P reserves at valued at less than $3 per barrel.

With a new updated reserve report on the way by mid May, the success of J-53 together with the slightly thicker sands at J-51 should mean a rise in the 2P reserves from the current 25 Million barrels to over 35 Million barrels.

That is a 40% increase, so just to stay on the same valuation of 2P reserves as now that would take the share price to over $0.92 per share.

Yet a valuation of $3 per barrel of 2P reserves is way under the norm, even allowing for the political risk involved.

Really is time people started to sit up and take notice of Jupiter and how undervalued it is.

This next 3 months could well see a complete change in market perception of the company and allow the stock to be completely re-rated.

The catalysts for the turnaround are there for all to see.

1. Flow test results from J-53.
2. Production licence fully granted for J-50 & J-52.
3. Domestic production from both J-50 & J-52 of 600 bopd.
4. New reserve report with much higher 1P & 2P reserves.
5. International sales of production from both J-50 & J-52.
6. Application for production licences for J-51 & J-53.
7. Conversion of loan into share @ $0.75 per share

Small capital raisings as and when required to advance the project with pipelines etc at ever increasing prices.

Watch this space and watch the gain in company value over the next 3 months.

LOTM