are you kidding me? !!!, page-6

Yes, I think all agree, either complete incompetence of management or deliberately misleading. I know where my thoughts are.

To see it from the Kazakh point of view, there would be no logical reason (apart from beaurocracy) to have these wells not producing. No production means no royalities to the country. Hence I imagine the several months waiting time for the TPL accounts for an application when the well first produces (hence that 90 day period), therefore I can only estimate that the JPR duds didn't get their application in until a long time after the start of the 90 days.

Anyway, to put that behind us, we now have some new members on the board and possibly this could be the reason for targetting J52 first because this well will provide the biggest upside gain potential in a shorter period of time. If they did J51 then well we all have a pretty good idea of how that one will go (so not much excitement in the SP). However, with J52 the story will be completely different.

I am guessing this accounts for the 5% rise in SP this morning. Not sure it will hold this though, but those bids at 0.039 are there for a reason (just need to work out why!).