Extension of Service Agreements

30 December2013

Jupiter Energy Limited ("Jupiter" or the "Company")

Extension of Service Agreements

The Board of Jupiter Energy Limited, the Kazakhstan-focused oil exploration and production company, trading on AIM ("JPRL"), ASX ("JPR") and KASE ("AU_JPRL"), announces that the Company has renewed Service Agreements with Geoff Gander (Chairman and Chief Executive Officer) and Scott Mison (Chief Financial Officer and Company Secretary.

Their current Service Agreements end on 31 December 2013 and the new Service Agreements will be effective from 1 January 2014 and terminate on 31 December 2014.

Below is a summary of the key terms of the two Service Agreements:

Geoff Gander (Chairman/CEO)

· Contracted through Symdean Pty Ltd

· Base Fee: GBP 280,000 which includes covering the costs of an office/apartment in London

· Incentive Bonus: GBP 100,000

Scott Mison (CFO/Company Secretary)

· Contracted through Corporate Wise Pty Ltd

· Base Fee (based on a 60% time commitment): $A90,000

· Incentive Bonus: Up to a maximum of $A30,000

All other terms of the two Service Agreements remain the same.

ENDS

Enquiries:

Jupiter Energy (+61 89 322 8222)

Geoff Gander ([email protected])

finnCap Ltd +44 (0)20 7220 0500

Matt Goode/Christopher Raggett (Corporate Finance)

Simon Johnson (Corporate Broking)

GMP Securities (Europe) LLP +44 (0) 20 7647 2800

Rob Collins (Corporate Finance)

About the Company:

Jupiter Energy Limited is an oil exploration and production company, quoted on the AIM, ASX and KASE markets. The Company is focused on developing its onshore assets in western Kazakhstan. In 2008 the Company acquired 100 per cent of the Block 31 permit, located in the oil-rich Mangistau Basin, close to the port city of Aktau.

Jupiter has a proven in-country management team, led by an experienced, international Board, together possessing the skills, knowledge, network and attention to detail needed to operate successfully in Kazakhstan. The forward plan will see Jupiter develop a group production facility on Block 31 to process, store and export oil. This topside infrastructure is a key element in moving to long-term production and the achievement of self-funding for further development of Block 31.