Have been re-reading through the announcements of the past 5...

Have been re-reading through the announcements of the past 5 weeks and came across something of note.

12 March.
Interim results of wireline logs run from 1200 to 2778 mtrs.

The oil show reported on March 8 of 3m from 2707 - 2710 in the Jurassic XI sandstone was consequently logged to show a potential oil zone of 14m gross from 2705 - 2719.

Not a bad increase on the initial 3m observed prior to running wireline logs.

Of particular interest was they also gave a net interval of circa 12m from the gross 14m that looks porous and has elevated resistivities and saturations!!

Different formation admittedly but would love to see a similar percentage converted from the 120m gross column in the Middle Triassic reservoir to net pay....

The tone of all their recent announcements seems to lean towards the more conservative side of expectations (which I find refreshing when compared to the bullish comments of other companies)...
((You can't get much better then that!)) is one in particular that springs to mind within the past 12 months.

They were quietly confident in still intersecting the full 120m intersection even when the top of the formation reservoir was found to be 19m deeper then initially expected.
2939m instead of the prognosed 2920m.

Since then they have in fact achieved that and quite possibly more then the 120m expected as they were still drilling in the formation (limestones and claystones) at 3059m and had not intersected the shale basement.
2939m - 3059m

Their ann 26 March further states that the first 18m of the upper reservoir 2939 2957m prior to taking their first core sample at 2957m is believed to include a LARGE percentage of good quality PRODUCING reservoir section.
Though to counter that they went on to state that the first core 2957 2966m had intervals of both mobile oil and free gas in parts and is initially interpreted to include both reservoir and non-reservoir intervals.Hmmm

I guess the point Im trying to make is 34m net from a gross over 120m is ONLY 25% of the gross not the LARGE percentage they stated.
Remembering their expectation is that the entire 120m gross thickness is prognosed to be completely/fully oil saturated.
Going from their conservative nature I can understand the quoted 34m of net pay but truthfully Id be very surprised if only 25-30% of this fully saturated oil column flows oil.

Maybe my expectations are too high but thought Id do some revision whilst we are in this trading halt so this post can hardly be called a ramp as well all know just exactly what we have in terms of net pay prior to JPR recommencing trading..
You could say the board seem quietly confident so I guess I do too..