bobsson
06 Jul 2017
poo is everything Price of oil unreasonably low apparently. Demand increasing and supply starting to level off and shortly decline, leaving a draw on oil stocks. Saw a feature on Bloomberg (?) where oil expert expecting average of $60/65 pb in 2018 with oil rising to $60 end of 2017. We will see.Certainly poo around $60 + pb would see JPRL obtaining around $20 pb at the well head.If poo stays low, even if permitted to produce would it be profitable to to start to produce. Perhaps production in Q4 2017?And what happened to simple economics, supply and demand, low prices supposed to increase demand and price?IMHO DYOR NAI
bobsson
23 May 2017
Website updated + Jupiter Energy website updated and new corporate presentation out. Still waiting for Kazakh ministry go ahead to start producing again, plus no indication as to where the money is coming from to do the five well workovers prior to production startup. But after so long at least the tone is more upbeat. There is even a timetable for more appraisal drilling and export of production.We have of course been here before. Would really hope for a takeover, but with near $40 million (?) debt, and main stakeholders expecting at least 50p per share, a takeover looks a long way away.IMHO DYOR NAI
bobsson
05 Jul 2016
Corporate action brewing? I sense corporate action brewing here at long last. However, I suspect JPRL will need to have the northern field reserves dispute resolved and the exploration licence extended to 2018 before confirmation.DYOR
bobsson
25 Feb 2015
Development well success RNS today, Well A19 has been successfully drilled and located nearly 100m of net pay over two zones. Good quality oil, and reinforces my view that JPRL will end up with 200 million barrels 2P reserves over the licence area. JPRL strapped for cash and domestic prices currently make production uneconomic, so well to be shut in after short test. When POO improves A19 will go straight into trial production.Trial production licences for two wells on another field are expected shortly.JPRL now in a good position to benefit from any rise in price of oil.Shares currently up 10% at 16pIMHO DYOR
bobsson
19 Feb 2015
RNS Shutting-in production JPRL is shutting in the only two currently producing wells as being uneconomic at current oil prices. Looks a good decision to me, keep the oil in the ground until the POO recovers. Keep working on the admin side to obtain the TPL for West Zhetybai wells, and resolve the reserves issue regarding J50. Obtain a least one licence area extension to investigate the potential new oil field. Raising funds in current climate not easy.Well 19 drilling result likely within three weeks. Predictions of POO going back down to $50 brent look likely to me so best to bunker down and try to survive until Q4 2015 when hopefully oil price will rise above $70.IMHO DYOR
