Broker GMP Securities has initiated coverage of JPRL with a 'buy' recommendation and an A$1.18 12-month target price. The following quotation is indicative of the report, though IMO the longer-term valuations appear somewhat on the conservative side (seemingly valuing in-the-ground 2Ps at the same level as producing reserves):
'With current EV of ~$73 mm, we believe the market is pricing in the company's 2P reserves of 24.2 mmb at $3.0/b. This compares to average historical acquisition metrics of $5-7/b and our valuation of $6.3/b (NPV10) from the Block 31 field model. Hence, we believe investors are getting 2P barrels at a steep discount and the remaining potential prospectivity on the block of ~100 mmb "for free". We are initiating coverage on JPR with a 78p /A$1.18 12-month target price and a BUY recommendation.'
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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
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