Jupiter Energy Limited (ASX: JPR & AIM: JPRL) is an oil exploration and production company, listed on both the Australian Stock Exchange (ASX) and London AIM (AIM), with acreage in Kazakhstan. Its initial purchase was 100% of an exploration permit (known as Block 31) in the Mangistau Basin. Block 31 is currently 123 km2 in size after a 2011 extension of 59 km2. The entire permit covers an area of proven oil production.
The Block 31 permit has a 10 year exploration licence (initial 6 years + two possible extensions of 2 years each) as well as a 25 year production licence. The initial 6 year exploration period runs until December 2012 and the Company has recently submitted an application for this period to be extended to December 2014.
The Company has its operations based in the port city of Aktau, which is located approximately 80km from Block 31.
The Company has an experienced Board and Management team with excellent in country experience and a proven track record in developing organisations from early phase to proven revenue generation.
Jupiter Energy CEO says 2012 will be a transformational year for the company
Friday, January 13, 2012
Geoff Gander, Chairman & CEO of Jupiter Energy (ASX:JPR LON:JPRL), , tells Proactive Investors that this year and next will be very exciting for the company. Having already drilled three wells at the project in Kazakhstan, each having produced oil, Jupiter is currently working on its fourth drill hole. Geoff also talks about the strong institutional investor base.
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