Jupiter Energy granted two well licences
Jupiter Energy was on the up after it announced two of its wells in Kazakhstan had been granted trial production licences.
Jupiter Energy was on the up after it announced two of its wells in Kazakhstan had been granted trial production licences.
The licences for its J-51 and J-53 wells mean oil can be produced under trial production for a maximum of three years and during this time it will be sold into the domestic market.
The company plans to develop the required infrastructure to move these wells from trial to full production - and therefore from domestic to export oil sales - sooner than this maximum 3 year period.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Jupiter added that trial Production from its J-50 and J-52 wells continued and it expected aggregate production from the Block 31 field during would be around 1,400 barrels of oil per day (bopd) from the J-50, 51, 52 and 53 wells in the first quarter of 2013.
The company's shares were up 2.3% by 1100, following the announcement.
MM
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Are you one of 15 million people at risk of retirement poverty?
Two-fifths of people in the UK aren’t on track for a minimum lifestyle in retirement, new data shows. Are there steps you can take to boost your pension?
-
150 banking hubs now open across UK – is there one near you?
As the 150th banking hub opens its doors, a Post Office deal that offers basic banking services has also been extended until 2030. We explain what this means for you