Let me suggest a few things that may be occuring with the...

Let me suggest a few things that may be occuring with the current share price...

/ Those shareholders who are selling a part of their holdings in order to take risk out leading into the flow rates.

/Brokers/Potential underwriters/Debt providers selling or shorting the stock leading upto the flow rates and option expiry / thinking they can extract better terms for themselves... their thinking may be that regardless of any result JPR will need finance to drill the next rig.

on the buy side;

/Oil investors/small funds/Day traders buying after JPR finding oil / and adding as the good results keep coming.


At present I think the sellers have been getting the slight edge. All things being equal I would have expected the SP a little higher. Currently, 1P reserves are being valued at about AUD$10 per barrel. This may change soon.

I have the feeling the sellers are nearly done here. It has done some impressive volume at these levels in the past few weeks. Even though there has been some constant selling, it has been met with equal buying. We are still at 7c...


I tend to think it is not long now before JPR pushes on to the next level. These flow rates are a significant event and on positive news the sellers will turn into buyers and more fresh buyers will appear. I think the dynamic that has been holding this stock down (due to the oppies) will be set to reverse soon... we will look back and wonder what we were worried about. Patience,

Regrds
Tom