announcement

J-50 well produces reservoir hydrocarbons to surface
during well clean up after successful completion.
Highlights:
h J-50 well has been successfully completed.
h 120m interval of the J-50 well has been perforated.
h Well clean up flow period has commenced and confirmed production of
reservoir hydrocarbon to surface.
h Initial well clean up rates of 120m3/d (~750bpd) have been achieved.
h Stable flow rate data are expected from J-50 towards the end of this week
Jupiter Energy Limited (ASX:JPR) is pleased to announce that it has completed the J V 50
well in Block 31 in preparation for production testing. The well was successfully perforated
on 3rd May 2010 at 1730 hours over an interval of 120 meters with casing guns.
At 0130 hrs 4th May 2010 the J-50 well commenced flowing produced hydrocarbon at
surface during the well cleanup. Information from the clean up flow is limited but very
encouraging with the well initially producing approximately 10m3 of reservoir fluid (primarily
oil) over a 2 hour period (120m3/day (approx 750bpd)). More specific details of the
produced reservoir fluid composition and data such as wellhead pressures and flow
conditions are unconfirmed. Stable flow rate data are expected to be available by the end of
this week.
The forward well test program includes:
h Completing the well clean up to achieve stable flow of reservoir fluids to surface.
h Shutting in the well and running pressure gauges in to the well.
h Re-commencing well production for a short period and then shutting in the well to
determine the initial reservoir pressure.
h Commencing the major flow period to derive well productivity and reservoir
characteristics.
h Shutting in the well and demobilising the drilling rig (approximately 3 days)
h Commencement of a 90 day production test.
Managing Director David Thorpe said. This is a major milestone for the company having
successfully achieved our operational objectives for the well and confirming commencement
of the well clean up flow and reservoir hydrocarbons to surface. The initial clean up
information is very encouraging and we look forward to reporting stable flow rates from the
J-50 well in the near future and expect long term test production to be commenced shortly
thereafter.
If shareholders have any questions on this announcement, they should direct them to the
Managing Director on 0417 984 023.