Jupiter Energy Limited announce quarterly update on activities to December 31, 2013
Jupiter Energy Limited (ASX: “JPR”, AIM: “JPRL” and KASE: “AU_JPRL”) presents the following update on activities for the 3 month period ending 31 December 2013 (the “Quarter”). Also included in this report are details of subsequent events that have occurred up to the date of this release.
The Quarter in brief:
Oil sales for the Quarter came predominantly from the J-51 and J-52 wells, with a small quantity from the J-53 well during December and none from J-50 which required an amendment to its Trial Production licence, as previously announced. In aggregate, 51,303 barrels of oil were sold in the domestic market during the Quarter, achieving approximately $US1.7m in sales at an average price of $US33 per barrel. All oil was sold on a pre-paid basis.
Production for the Quarter averaged 638 barrels of oil per day (bopd).
• 51,303 barrels of oil was produced during the Quarter, generating domestic oil sales of $US1.7m at an average price of $US33 per
barrel at the well head.
• Oil sales achieved for the 6 month period ending 31 December 2013 totalled 111,900 barrels, generating domestic oil sales of
$US3.7m at an average price of $US33 per barrel at the well head.
• Oil sales achieved for calendar year 2013 totalled $US7.9m based on sales of 240,558 barrels of oil at an average price of $US33
• Remedial work on the J-53 well was successfully carried out during the Quarter and the well has now resumed trial production.
Average daily production from J-53 is currently 80 bopd.
• 2014 Emission permits for wells J-50, J-51, J-52 and J-53 were received in late December and these wells are now on Trial
• Trading of the Company’s shares on KASE, the Kazakh stock exchange, commenced on 10 December 2013.
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