very cheap on current reserves alone, page-2

You could be right. But it's all the waiting that needs to be factored in. Yes, we 'may' get the export license sooner rather than later. But that will only be for J50.

Each well goes through the same lengthy delays. 90days testing. So 3months of nothing. Then wait for TPL. Ok, let's assume J50/J52 were the exception and future wells will be quicker. Maybe only 3months instead of 18months.

So 3months testing followed by 3month wait. Then an uknown period 'up to 3years' of domestic sales. That's a long time to see results. And we really dont know what will be typical flow rates yet. We've had J50 disappointing and the next two were decent. We definately need them to be around 600bopd.

http://www.proactiveinvestors.com.au/companies/news/28267/jupiter-energy-sets-out-plans-to-further-develop-exploration-block-31-in-kazakhstan-28267.html

The first 3 wells are all about 300bopd. The area averages around 400bopd. We are getting ahead of ourselves until they consitently drill wells capable of 600bopd.


The first full export license will be the re-rate potential because it will point at how long they will typically take. If it "only" lasted 1year then their is still potential.

But even at 1year wait for J50 only, the cashflow will not support our drilling campaign which is why the company has mention huge capital raisings. We aren't talking $10mil to get the next well up and running. These guys want to double the shares on issue.

They have been on the record as ideally wanting $30mil-45mil.

Tell me how we could double our money if that happened?
$60mil now + 40mil cr = 100mil. What would justify $200mil and double our sp?