Jupiter Energy Limited: Jun23 Quarterly Activities Report

Jupiter Energy Limited (ASX: JPR) offers a comprehensive quarterly update on its activities for the period ending 30 June 2023. Notable highlights from this report include the record of unaudited oil sales revenue, which reached approximately US$S2.39 million, with around 65,000 barrels of oil sold. Throughout the quarter, the wells in the Akkar North (East Block), Akkar East, and West Zhetybai oilfields performed impressively, producing at a combined rate of approximately 85 tonnes/640 barrels per day.

The company successfully conducted oil sales through various channels, including major domestic refineries, local mini refineries, and the export market. Additionally, shareholders voted in favour of the "Securities for Fees" plan at the EGM held on 29 June 2023, resulting in a significant reduction of approximately AU$500k in Balance Sheet debt. Furthermore, the Board welcomed Keith Martens as a new Non-Executive Director, following the retirement of Mark Ewing. This update also includes relevant details of subsequent events up to the release date.

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