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JUPITER ENERGY LIMITED - ASX: JPR
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Description
Jupiter Energy Limited (ASX: JPR) is an oil exploration and production company, listed on the ASX, with acreage in Kazakhstan.
Its initial purchase is 100% of an exploration permit (known as Block 31) in the Mangistau Basin. The permit covers 65 sq km in an area of proven oil production. 3D seismic has been shot over the entire permit and a January 2010 review of this siesmic and associated drilling data by independent oil & gas consultants Senergy Limited confirmed Triassic 2P reserves of 8.6 mmbbls and a Triassic P50 Prospective Resource of 12.2 mmbbls.
A lack of current drilling data meant that Senergy was not able to give an estimate on oil recoverable from the Jurassic structure but JPR internal estimates are of an additional P50 Prospective Resource of 22.2 mmbbls, bringing the total potential of Block 31 to 42 mmbbls recoverable. Post the drilling of JPR's 2009 commitment well (J-50), the Company engaged Reservoir Evaluation Services LLP (RES) to carry out a 2nd review of the seismic and associated drilling data and this led to an increase in the P50 Prospective Resource in the Triassic, up from 12.2 mmbbls to 49.4 mmbbls. This brings the total Triassic and Jurrasic reserves/resource potential on Block 31 to 80.4 mmbbls.
JPR expects the 2P and P50 figures to be upgraded as further drilling is carried out on the block. J-50 has completed the 3 month production test allowable under Kazakh legislation and the Company is in the process of applying for a Trial Production licence for this well. JPR's 2010 commitment well (J-52) spudded in November 2010 and details of the progress with this well will come through forthcoming ASX Announcements.
JPR has offices in Perth, Australia and in both Almaty and Aktau, Kazakhstan. The Company currently employs 25 personnel across these 3 offices with the vast majority located in the Operations Centre in Aktau.
Mine For
gas, oil
Location of operation(s)
Kazakhstan
Address
Level 2, 28 Kings Park Rd
WEST PERTH, WA, AUSTRALIA
Phone
(61 8) 9322 8222
Website
http://www.jupiterenergy.com.au/
Last Updated
10/02/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
