"Say's it all really.Discounted after tax valuation on the tiny...

"Say's it all really.

Discounted after tax valuation on the tiny CPR reserves is $225M !!"

TU to that.

Question is how far can JPR fall?

The main issue continues to be the domestic sales. Our opex is around $30/bbl. Look at our forcast for next quarter and we forecast $100k profit from production. So we are selling just a smidge above our bottom line.

With minimal cash in bank and more exploration forecast, we will find ourselves heavily diluted again.

If the NPV is around $225mil, and our EV is more than the market cap as we have about $20mil in debt/con notes. Doesn't give us much room to move and you would expect some discount to NPV.

Like you say if J53, 55, 59 all started firing then a NPV of $400mil would give sp more room to move. But with domestic sales not translating to profit, then NPV may not increase as much as you expect.

I think a sell off might be coming. Market has lost all interest in JPR over the last couple years. Performance just ticking along slowly. Still stuck selling domestically and in a phase of dilution. Worst thing is they dont allow us to participate in dilution and instead turn to Waterford every time.

A hold for now and hope for some operational improvement. Export license will see this fly but Waterford will own us before that.