Testing Results

5 September 2011

Jubilant Energy N.V.

("Jubilant" or "the Company")

Testing results of the first development well KSG-57 of phase-III campaign in Kharsang Field

Jubilant is pleased to announce the testing results of the first development well KSG-57 (earlier referred to as "KPL-A") drilled under the Phase-III development drilling campaign in the Kharsang field. The well was spudded on 28th July 2011 and was successfully drilled to 875 meters measured depth (800 meter true vertical depth) on 15th August 2011, on time and within budget. The well was tested with a smaller capacity work-over rig, which was deployed at the site on 21st August 2011.

Based on wireline log interpretation results, formation pressure data from Sequential Formation Testing and Side Wall Core results, the consortium identified four separate intervals, totalling 20 meters of net sand, for testing of shallow C-50 and D-00 Girujan targeted reservoirs.

Upon testing the D-00 sands interval between 786-793 meters and activation through swabbing, the well started self-flowing. The well is presently flowing through 5.56 millimetre choke at a rate of around 170-180 barrels of oil per day (bopd), with Gas-Oil-Ratio of 30 volume by volume and maximum flowing tubing head pressure of 11 Kg/cm2. The initial results are as expected and encouraging. The production from the well is being sent to the Oil Collecting Station (OCS) for further processing.

The KSG-57 well will continue to remain under extended production testing to carry out a multi choke study till production is optimized. The testing of the remaining 11 meters of the two shallower sands will be completed at a later date.

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% interest in the block through its subsidiary, Jubilant Energy (Kharsang) Pvt Ltd. The other members of the consortium are Oil India Ltd and GeoPetrol.

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.