Agree, Rafish.The recent slide in the sp does not reflect...

Agree, Rafish.

The recent slide in the sp does not reflect anything fundamental. JPR is a fairly lightly traded stock, and so responds to pretty small volumes in either direction. The recent 'sells' both here and on AIM are small and could be down to almost anything, really.

I doubt there’s too much to be read into the $3m loan arrangement announced yesterday. It’s a modest sum evidently borrowed as a short-term measure, covering perhaps 60% of the cost of drilling J59 which, if successful and resulting in another c10mmbo of reserves being booked, will look like a bargain. The sum looks to be easily repayable out of revenues by year end. As for mention of earlier repayment if JPR raises $20m in funding, this to me indicates that repayment would fall due in such circumstances rather than necessarily implying that such a sum is actively being sought. All-in-all, if JPR strikes again at J59 and follows up with a sizeable uplift in 2Ps in the new CPR, then this news is simply a means to an end. I see no cause for concern here.