July 23, 2020
Jupiter Energy published a few important quarterly updates for the period to 30 June 2020.
The main highlights are:
- Jupiter’s oil production is limited to 2 wells as of yet. Company is still waiting for regulatory approvals from Akkar East oilfield. Jupiter expects all the necessary approvals to come through in the next few weeks.
- Oil continues to be sold via a prepayment contract with a local oil trader into the domestic oil market
- VTB Capital will be engaged to assist with a Strategic Review that the company is currently undergoing. This will include the review of strategic operations and analysis of various options to enable the ongoing development of Block 31