New Financing Arrangement

28 March 2013

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

Additional Funding Arrangement

The Board of Jupiter Energy Limited, the Kazakhstan-focused oil exploration and production company, trading on AIM ("JPRL") and ASX ("JPR"), announces that it has entered into a second unsecured loan agreement (the "Loan") with Mobile Energy Limited.

The Loan is for $US3 million via 3 Promissory notes, each with exactly the same terms and each with a face value of $US1m. This brings the total loan with Mobile Energy Limited ("Total Loan") to $US6 million.

The Total Loan is repayable on 31 December 2013 or at such time that the Company raises additional funding of a minimum of $US20 million via debt, equity or other funding. The Loan has a coupon rate of 15% per annum, payable quarterly in arrears.

The Loan will be used to fund field operations, including the testing of the J-59 well.

The Company is currently in discussions with a number of parties regarding a range of long term funding options including convertible notes and/or bank debt and will update the market in due course on progress with these negotiations.

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

James Pope (Corporate Finance)

About the Company:

Jupiter Energy Limited is an oil exploration and production company, quoted on both the AIM and ASX 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.