Jupiter Energy Limited informs shareholders that the J-58 exploration well was spudded on 21 October 2012.

The J-58 well is the Company's sixth well and the first well to form part of the drilling program that accompanies the first 2 year extension to the Company's Block 31 Exploration Licence, which now runs until 31 December 2014.

As with the recent J-55 well, J-58 is located on the new extension area to the south of the already discovered Akkar East oil accumulation. The well is ~3.8km to the southeast of the J-55 well location. The Company believes that the area being targeted by this well may contain up to 10 million barrels of potential resources.

Tags: Jupiter Energy Limited