Australia's Jupiter Energy soars on Kazakhstan project reserve upgrade

Jupiter Energy

11/01/2024 01:16

** Shares of Jupiter Energy  JPR.AX  more than double in
value to A$0.038
    ** Stock posts its biggest intraday percentage gain since
Sept. 16, 2021
    ** Stock rises for a third straight day, hitting its highest
level since March 6, 2023 
    ** Oil and gas explorer says it has received a report from a
consultancy evaluating possible reserves at co's three oilfields
in Kazakhstan
    ** Says report shows significant increase in reserve base
compared to last report in 2013
    ** Says after-tax net present value of project of $180 mln 
compares favourably with co's current enterprise value of $31
mln
    ** More than 860,400 shares change hands, nearly 100x the
30-day average volume of 9,458
    ** Stock fell 34.6% last year

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))