What are peoples thoughts on the fundamentals of the new JPR,...

What are peoples thoughts on the fundamentals of the new JPR, post rights issue?

Im thinking

JPR = 1.5bil shares = $45mil
JPR = Block 31 + $15mil cash

So

Block31 = $30mil.

What earnings would justify that? Lets use 5x PE. So we would need $6mil from Block31

JPR state $29 profit at $70bbl. Lets use $30. We need 200,000bbl a year.

Over a 330day year to account for maintenance and weather conditions, thats 606bopd.

The LAST update was 435bopd. So currently we fall short of that target. Could it go up? Possibly. Maybe NWZ2 can make up the shortfall?

The market is forward looking and is probably pricing some of J51 in already, so 3c seems about fair IMO.

But how do we double our sp? We need to double our earnings. Can we produce 1200bopd anytime soon? NWZ2(big ??) and J51 would really need to contribute.

This will probably be a slow and steady rise IMO.