Jupiter Energy Limited (ASX: JPR) is an oil exploration company, listed on the ASX, with exploration acreage in Kazakhstan. Its initial purchase was 100% of an exploration permit (known as Block 31) in the Mangistau Basin. The Company has subsequently extended the permit area and it now covers 127 sq km of exploration acreage in an area of proven oil production. 3D seismic has been shot over 95 sq km of the permit and the result of this work has identified a range of targets. The Company has recently completed the re entry of an old Soviet well drilled on the permit (NWZ 2) and this workover has been successful. The well has now been suspended and will be put into production testing during 1Q 2010. The Company has also announced that a new well (SV Akkar) will be drilled on the permit and this well will spud in mid December 2009.
JPR has offices in Perth, Australia and in both Almaty and Aktau, Kazakhstan. The Company currently (Nov 2009) employs 16 personnel across these 3 offices.
Review of Operations
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