As the bb’s gone quiet in advance of news, I’m going to indulge in a bit of idle prognostication. I think the absence so far of the news we were given to expect in November; namely the flowrates from J53 post-remediation and those from J55; might well be a positive sign. It seemed to me fairly obvious that J55 was a strike some time before it was announced; the new investor pres, the new broker rec from GMP Sec, and the comments in JPR’s ‘final results’ communication, all strongly hinted at a positive outcome at J55. To me, the smart move would be to drip-feed the J53 & J55 news a week or two in advance of the result of J58, so as to attract attention and investment to JPR. The J58 well spudded on Oct 21 with a 60-day estimated timeframe to the result, and this same period was exactly adhered to at J55. On this basis, we could expect a result for J58 on perhaps Dec 20, which is likely to be the last meaningful trading day of 2012 (anyone with any sense will be knocking-off early and going on the grog on Friday 21). To me, this looks to be a sensible schedule of events.
I suspect that reaction to another strike at J58, which I feel is likely, might take the sp up another leg and see JPR around the 65-75c mark. Assuming this hoped-for outcome, JPR would be well set to enter the New Year with perhaps three highly significant pieces of news to come near-term; namely, progress with the TPL status of J51 and J53 which, if positive, would give perhaps c1500bopd of production (incl J50 & J52 which are already on TPL); test flowrates for J58; and the much-anticipated new CPR in early 2013. If the latter comes in with a 2Ps number perhaps close to 50mmbo recoverable (based on the 5 successful wells to date and assuming success at J58), then JPR should be in a whole new ballpark before much longer. I’d like to hope that with that sort of outcome, the days of the current $86m market cap would be consigned to history.
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Last
2.9¢ |
Change
0.003(11.5%) |
Mkt cap ! $36.96M |
Open | High | Low | Value | Volume |
2.6¢ | 2.9¢ | 2.6¢ | $820 | 29K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | 2.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.2¢ | 100000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | 0.026 |
2 | 204963 | 0.025 |
1 | 25000 | 0.018 |
1 | 3056 | 0.016 |
1 | 10000 | 0.010 |
Price($) | Vol. | No. |
---|---|---|
0.032 | 100000 | 1 |
0.039 | 580000 | 1 |
0.045 | 22000 | 1 |
0.050 | 170354 | 2 |
0.055 | 35000 | 1 |
Last trade - 12.44pm 23/08/2024 (20 minute delay) ? |
JPR (ASX) Chart |
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STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
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