"These two oilfields are estimated to contain recoverable reserves of approximately 11 million barrels (gross)."
This is part of the purchase by bpt in egypt 2 years ago for $110m for a 20% stake. They will spend another $50m to develop their 20% interest.
That's why there was a lot of interest in jpr options today. That's the numbers jpr is looking at. If these 2 new zones are commercial,they were not included at all in the independant review on 19 jan for jpr.
It's the highest volume i've seen for jpr and unlike last time when it ran to 8.5c there is huge support also.
Still a risk and dyor and don't blame anyone else.
JPR Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
