someone's stake buildings, page-3

Hi Paul,

Its a long slow process, which you have to follow step by step, which unfortunately is made worse by Jupiter's cash position.

If they had the funds, they could build the topside that is required before they can finally gain access to the export market (I think they need to drill at least one more development well to satisfy all requirements as well).

The financial crisis really came at the wrong time for the company, equity finance has really been off limits since then unless you want to see serious dilution to existing shareholders. The loans they have at the moment have a fairly high interest rate but at least the conversion price of $1.25 is in the favour of existing shareholders.

Trying to sort out some sort of debt finance or other option seems to be taking forever and is a real drag. Wish it could just move forward soon, because they seem to be good at finding oil. Perhaps it will end with some sort of takeover offer?

Just not sure which will offer us the better value, that ultimately depends on the finance terms, which we need to see before any judgement can be made.

I do know 40 cents is a crazy price, but sadly until everyone can see the next step forward (financing or takeover) there is nothing going on to draw investor interest to the company.

Maybe we will hear more in the quarterly report.

LOTM