Jupiter Energy posts encouraging results from J-58 well

LONDON (ShareCast) - Oil and gas explorer Jupiter Energy on Tuesday reported encouraging results from early testing at is J-58 well in Kazakhstan.

The company expects stabilised flow rates will be available next month.

The J-59 well reached its target depth of 3,191 metres and results of wireline logs will be announced once independent analysis is completed within the next week.

Workover and completion work on both wells is continuing and it is expected that stabilised flow rates will be established during March.

Shares fell 4.76% to 40.00p at 09:34 Tuesday.

RD