Update regarding funding arrangements

18 June2013

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

UPDATE REGARDING FUNDING ARRANGEMENTS

The Board of Jupiter Energy Limited, the Kazakhstan-focused oil exploration and production company, trading on AIM ("JPRL") and ASX ("JPR"), announces that all funds due from the recently announced Convertible Notes issue have now been received.

The final breakdown of subscriptions for the Convertible Notes is as follows:

·; Waterford Petroleum Limited: $US3m

·; SNG Investments Limited: $US2m

·; Midocean Holdings Limited: $US1m

·; Mobile Energy Limited: $US3m

It should be noted that this breakdown is slightly amended from what was announced on 31 May 2013 in that Midocean Holdings Limited replaced Weighbridge Trust Limited in taking $US1m of the Convertible Notes.

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/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.