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At last
on drilling.http://www.investegate.co.uk/jupiter-energy--jprl-/rns/drilling-update---well-19/201412300700068700A/
A good chance of increased production within a few months with well 19 drilling under way.
Central Asian now 10%. Things happening, but not on this market. I am concerned that Jupiter could get de-listed from the London stock exchange. Meanwhile sitting tight and still hoping for a windfall,
Whats going on with this Share?
ASX price quickly recovered today and RNS of some serious shuffling of major shareholders' holdings. Arrow Business Ltd buy in 19.8%, Soyuzneftgas Capital sell, Central Asian Oil Holdings buy 6.84%. I can't seem to reconcile with the top 20 shareholder list though. What happens next?
yes, it seems, am still invested here. 4c drop today on ASX (share there is JPR) 124k volume sale. It's been steady for some time at somewhat less than my buy in price!
This has gone very quiet. Anyone else here?
I was wondering the effects on the company after the recent Kazakh currency devaluation of around 20%. Labour and services ought to be cheaper? Any other advantages/disadvantages?
Bonkers, they currently have a trial production license. This allows them to flare the gas associated with production. But it restricts them to selling internally in Kaz at this price. They cannot flare under a full production license, so need the production kit to deal with the gas. This is expensive, and they need finance. But once build, they can go to full production, which will allow them to sell on to the international market, which should see a very big increase in their revenue. The hope last year was that the cpr would unlock funding. Unfortunately, they got stuffed on this. A clear agreement on financing should see the share price rerate - unless it involves big dilution. But it looks like the price has bottomed for now, with some signs of heavy buying yesterday. I am still holding.
Guess you'll be checking MARL first thing, I will! This one will have it's day too.
thanks mate - still don't get why they're selling oil at 60% off market price but hey, wtf do I know :) Chart looks grim - always a chance of a double bottom at 22p but I suspect teens is on here so I'll be holding off and seeing how she goes ...
Looks like a retail punter getting fed up of waiting and dumping stock in Jupiter Energy. We should get a decent bounce over the next few days if the seller is done. Will probably look to top up my holding tomorrow.
Bonker, The oil is sold to a local refinery and shipped by rail, so a local deal. More buys than sells lately, don't know cause of price drop today apart from lack of interest. Recovery tomorrow?
their oil @ $33pb - what am I missing here??
It takes little to move the price. All trades today within a couple of minutes of each other. I re-read the company website info, and am still entusiastic. US and European oil majors established in the country and Russia and China as neighbours to take any larger quantities. Meanwhile, current trial output sold on the domestic market. Bobsson on iii gives a good synopsis.
Jupiter Energy's Q4 2013 report should be announced by the end of January (probably mid month) so it will be interesting to see if: i) they have made any progress on permitting ie. trial production licences ii) any talks with third parties on financing/takeover are now occurring I would expect progress on (i), (ii) would be a nice bonus.... They've been very quiet since October which suggests either they are doing nothing (if this is the case the CEO should be fired) or they are actually very busy doing something.....
defo on my radar ... You fundy types care to wrap this company up in a sentence or two for me please?
Yes, cash is tight, shipment of oil by pipeline will improve things, I don't know how close wells are to existing pipelines or costs involved though. I thought hedgestar's takeover scenario was the way things could go.
If you bought yesterday cash poor, I think you may have caught the bottom. And the lurch down below 24p was very short lived. The key thing for Jupiter is to sort out finance for a proper production facility, so they can move off trial production, and get much better net back. That was going to be contingent on the RAR, which did not turn out as planned (echos of XEL). There has to be a possibility that, again as with Xel, getting the finance is heavily dilutive, at least for PIs. But there is so much NAV here, a bit of dilution can be taken. It isn't completely velar what is happening on the financing/ full production infrastructure front.
Bought a modest amount today, as usual hoping it's all upwards from now on. There seems to be good prospects with proven reserves of $300m and increase in production likely soon. I'd be interested to hear Hedgestar's latest opinion.
The US government shut down has taken its toll on small cap oil and gas stocks - sea of red on my screen, including poor old Jupiter with a distressed seller in Australia. They must be feeling the pain.... "Buy when there is blood on the streets".... I think is how the saying goes....!
A bit like watching paint dry at the moment. We should have some news in 3 weeks time with the 3Q update. It would be good to see established production from J53. Exillon Energy my other favourite - take out price still 300p in my book...