Jupiter Energy Limited is an Australia-based oil exploration and production company. The Company is engaged in exploration for oil and gas in Kazakhstan and appraisal, development and production of oil and gas properties in Kazakhstan. The Company owns 100% of an exploration permit (known as Block 31) in the Mangistau Basin. Block 31 is 123 square kilometers in size and the entire permit covers an area of oil production. The Block 31 permit has a 10 year exploration license, as well as a 25 year production license. As of June 30, 2012, the Company had four wells on Trial Production (J-50, J-51, J-52 and J-53). During the fiscal year ended June 30, 2012 (fiscal 2012), the key operations were the drilling, completion and production testing of the Company�s third and fourth operated wells (J-51 and J-53) on Block 31, as well as bringing the J-50 and J-52 wells onto Trial Production.