The recent new Investor Presentation is interesting in a variety of respects. Among the slightly less eye-catching elements are the details that the ESP in J50 has not yet been installed (although it appears imminent), and the perhaps lower than anticipated forecast production from the well of 150+bopd (although of course the ‘+’ suggests that this could be exceeded). Obviously, currently, there’s no production from the 600bopd J51, due to shut-in pending receipt of TPL approval. It will be interesting to see what flowrates are achieved from J53 post the recent remedial work. JPRL suggests that c1400bopd is likely from J50,51,52 & 53 by end 2012, which implies that a figure around 250bopd might be expected from J53. If the target of 1400bopd is achieved, then at say $45/bbl, JPRL would be generating production revenues of about $23m/year and depleting the Akkar East accumulation by about 500k bbl/year. Success at J55 & J58 would likely add to these revenues via initial test production and subsequent TPL production from these wells. It’s difficult to say how much of this revenue might be available for exploration & field development but, given that JPRL has no debt to service, it would certainly be a significant sum (c$15m?).
However, the really eye-catching news in this presentation is the extent of the prospectivity of B31 and the extension. Cumulatively, this amounts to potentially an additional 100mmbo recoverable over and above the likely c37mmbo of 2Ps already discovered at Akkar East. Prior to this presentation, I had not seen estimations of the total potential of recoverable oil in both the original and new block areas. In effect, there appears to be 3 sizeable prospects: a possible 40mmbo in the J54 subcrop; a possible 20mmbo in the Akkar East extension; and a further possible 40mmbo in the B31 extension to the south. Success in proving up just one of these 3 prospects at the sizes indicated would imply that 2Ps in excess of 50mmbo would appear to be almost certain. Success at all 3 prospects would suggest the likelihood of 2Ps perhaps well above 100mmbo. You don’t need to be Wittgenstein to work out the implications of those sorts of figures for the share price of a Company which will likely have not much above the current 153m shares in issue when those 2Ps are translated into producing reserves.
Bring on the result of J55 and let's see the SP moving north...
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jupiter energy limited
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Last
2.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $37.14M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 250000 | 2.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.3¢ | 200000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 250000 | 0.029 |
1 | 300000 | 0.017 |
2 | 64889 | 0.016 |
1 | 10000 | 0.010 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.033 | 200000 | 1 |
0.035 | 3134 | 1 |
0.045 | 70000 | 1 |
0.050 | 170000 | 1 |
0.110 | 12400 | 1 |
Last trade - 16.21pm 22/07/2025 (20 minute delay) ? |
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