The Board of Jupiter Energy Limited (ASX: JPR) (JPR or the...

The Board of Jupiter Energy Limited (ASX: JPR) (JPR or the Company) is pleased to
provide shareholders with an update regarding progress being made on J-52, the Company's
2010 commitment well.
J-52
On Monday 27 December 2010, the J-52 well reached total depth of 3152m, 54 days since
spudding. Operational progress continued to be consistent with the Company drilling plan.
Since the last update, the Company has successfully cut a 9m core from 2999m to 3008m
and can confirm that hydrocarbon shows were encountered to a total depth of 3096m.
The Company is currently running electric wire line logs to evaluate the prospective reservoir
intervals; if the Company believes that potentially economic hydrocarbon resources are
present in one or more reservoir intervals the well will be cased and temporarily suspended.
The Company will then implement plans for production testing of the J-52 well using a
smaller, more cost effective, service rig.
The Company will release further information on the drilling campaign post the analysis of
the electric wire line logs.
If shareholders have any questions on this announcement, they should direct them to the
Company on (08) 9322 8222.