Jupiter Energy Limited Agrees Terms for a New Prepayment Contract

Jupiter Energy Limited is an oil exploration and production company. The Company is focused on developing its onshore assets in Western Kazakhstan. The Company holds 100% of the Block 31 permit, located in the oil rich Mangistau Basin, close to the port city of Aktau. Block 31 is approximately 123 square kilometers in size and the entire permit covers an area of proven oil production. It has its operations based in the port city of Aktau, which is located around 80 kilometers from Block 31. Three oilfields have been discovered on the permit area - West Zhetybai, Akkar East and Akkar North (East Block). Both Akkar East and Akkar North (East Block) oilfields operated under the Full Commercial Licenses and the West Zhetybai oilfield operated under the Preparatory Period of its Commercial License. The Company sells its products through a variety of sales channels, including both the domestic and export oil markets. It has cumulative production at around 90 tons (675 barrels) per day.