Drilling Update

20 September 2011

Jubilant Energy N.V.

("Jubilant" or "the Company")

Commencement of batch drilling programme of four development wells at Deen Dayal West

Jubilant Energy is pleased to announce that on 12 September 2011, the development drilling programme at the Deen Dayal West gas condensate field ("DDW") commenced.

The jackup rig Deep Sea Driller-1, which is located over the DDW Well Head Platform in a water depth of 60 metres, will batch drill the initial section of the first four development wells.

The completion of the wells to their target depth and the drilling of the remaining development wells will be completed by the more cost efficient modular rig, expected to be installed on the well head platform by January 2012. In order to accelerate the development activities for first gas production, it was decided to use the jack up rig used for the appraisal campaign till the modular rig is installed. The Field Development Plan ("FDP") envisages a total of 11 new wells, including the four wells mentioned above, and the re-completion of the four existing wells at DDW. A total of seven wells will be drilled or re-completed by first gas in 2013, with the balance drilled by 2017.

The FDP for the Krishna Godavari block (KG-OSN-2001/3), which includes the gas-condensate wells KG-8, KG-15, KG-17 and KG-28, was approved by the Government of India in November 2009. The Mining Lease area for DDW is 17 square kilometres.

Jubilant holds a 10% participating interest in this block through its subsidiary Jubilant Offshore Drilling Private Limited in India. Gujarat State Petroleum Corporation Limited, with an 80% participating interest, is the Operator for the block

For further information, please contact:

Competent Person's Consent for Release: Maxwell Birley, BSc in Geological Geophysics, the Company's Chief Operating Officer has 30 years of international experience in the exploration and production industry. He has reviewed and approved the technical information contained in this announcement pursuant to the AIM guidance note for mining and oil and gas companies.