j-52 operations update

17 December 2010
J-52 Operations Update
The Board of Jupiter Energy Limited (ASX: JPR) (?JPR? or ?the Company?) is pleased to
provide shareholders with an update regarding progress being made with J-52, the
Company's 2010 commitment well.
J-52
The well spudded on 4 November 2010 and on 17 December 2010, J-52 had been drilled to
2855m. During the 43 days since spudding, the following have been achieved:
 The 11 5/8? hole section has been drilled to 1200m and 9 5/8? casing successfully
run and cemented.
 The 8 ?? hole section has been drilled to a depth of 2855m.
 Hydrocarbon shows have been encountered while drilling the 8 ?? section.
 The formation tops compare favourably to prognosis and with JPR's J-50 offset well.
Currently the rig is preparing to cut a 9m core from the Jurassic section. Once completed,
the plan is to drill ahead to the Middle Triassic structure. The Company proposes to fully
evaluate both the Jurassic and Middle Triassic formations after drilling the 8 ?? hole
section.
If electric wireline logs indicate that commercial hydrocarbons might be present in one or
both of these formations, the well will be temporarily suspended and the Company will
implement plans for production testing of the well using a smaller more cost effective rig.
Local regulations permit an initial production testing period of 3 months per reservoir and it
is possible that separate production testing operations will be carried out on both the
Jurassic and Middle Triassic reservoirs.
Progress on the well to date has been in line with Company expectations. The Company will
continue to release further information on the drilling campaign when matters of material
interest occur during the drilling and testing phases.
If shareholders have any questions on this announcement, they should direct them to the
Company on (08) 9322 8222.
ENDS