Successful Test Results

10 April 2013

 Jubilant Energy NV

("Jubilant" or "the Company")

Successful Testing and Production of First Well of Phase-III-Extension Development Campaign in the Oil Producing Kharsang Field

Jubilant is pleased to announce that KSG#65 (previously referred to as KPL-3E-7), the first of the six development wells of the Phase-III-Extension drilling campaign in the Kharsang Field, Arunachal Pradesh, has successfully tested for oil and has been put into production at an initial gross rate of 70 barrels of oil per day ("bopd").

KSG#65 was an infill development well in the north-western part of Kharsang Field with the H-00 reservoir sand layer as primary objective and G-00 and D-00 sand layers as secondary objectives. The well, spud on 18 February 2013, was successfully drilled to a target depth of 1,145 metres Measured Depth ("MD") (1,110 metres True Vertical Depth) and completed on 16 March 2013.

Based on the wireline log interpretation, mud log shows, formation pressure data from the Reservoir Dynamic Tester and sidewall core data, the Consortium identified intervals of 979-985 metres MD and 988-993 metres MD in the primary H-00 reservoir sand for testing. Detailed testing was carried out in this zone commencing from 23 March 2013. The well is currently producing at a rate of around 70 bopd on artificial lift. An up-hole potential of around 20 metres of net oil bearing sands and 11 metres of gas bearing sands have also been identified in the well.

GeoEnpro Petroleum Ltd., a joint venture of GeoPetrol and Jubilant Enpro (a member of the wider Jubilant Bhartia Group), is the operator of the Kharsang Field. Jubilant holds a 25 percent interest in the block through its subsidiary, Jubilant Energy (Kharsang) Pvt Ltd. The other members of the consortium are Oil India Ltd and GeoPetrol.

Competent Person's - Consent for Release

Mr Ramesh Bhatia - Chief Operating Officer, holds a Master's of Science degree in Applied Petroleum Geology and has over 20 years of experience in the Oil and Gas Exploration, Development 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.