I’m always a bit cautious of TA in respect of junior oilies....

I’m always a bit cautious of TA in respect of junior oilies. However, whilst I guess it’s also always sensible to resist the temptation to read too much into brief comments, I nonetheless think the below remarks are interesting. These comments, from the recent Final Results communication, IMO certainly strike a bullish tone. If one adds to this the circumstantial evidence of GMP’s broker coverage of JPR commencing recently in very bullish mode, then one can perhaps be forgiven for thinking that a positive outcome at J55 looks rather more likely than not. Nothing’s guaranteed of course, but these sorts of noises coming in advance of a drilling result that might indicate the highly significant potential of Block 31 over and above JPR’s current reserves and production would appear odd for a Company seeking to raise its profile among investors if made in advance of announcing a duster.

‘The prospectivity of the 100% owned Block 31 continues to improve and the drilling of two exploration wells during the 2nd half of the 2012 calendar year should continue to provide a good indication of the potential of the 59 km2 southern extension area that was granted to the Company in 2011.’ Note also, GG’s fairly unambiguous closing remarks: "I am delighted that this year has seen Jupiter successfully transition from explorer to producer. I believe that the Company has a very exciting 12 months ahead of it and continued drilling success will lay the foundation for Jupiter to grow into a significant oil producer in what is one of the most prospective oil producing countries in the world today."

Let’s hope the bullish tone is justified.