Issue of Shares

3 February 2012

Jupiter Energy Limited

("Jupiter" or the "Company")

Issue of Shares

Jupiter, the Kazakhstan-focused oil exploration and production company, quoted on AIM ("JPRL") and ASX ("JPR"), announces that, following approval at the Company's Annual General Meeting held on 28 November 2011, 266,667 ordinary shares in the Company (the "Shares") have been issued to Erkin Svanbayev, a former director. The Shares are being issued as part of Mr Svanbayev's retirement package.

Application has been made for the Shares issued to be admitted to trading on the AIM market of the London Stock Exchange and dealings are expected to commence on 9 February 2012. The Shares will rank pari passu with the Company's existing ordinary Shares. Following admission there will be 116,130,154 ordinary shares in issue.

ENDS

Enquiries:

Jupiter Energy (+61 89 322 8222)

Geoff Gander ([email protected])

Evolution Securities (+44 (0)20 7597 5970)

Chris Sim

Neil Elliot

Media enquiries:

Allerton Communications (+44 (0)20 3137 2500)

Peter Curtain ([email protected])

Tel: +44 (0) 207 101 7070