Jupiter Energy (ASX:JPR) Posts US$1.925m Kazakh Oil Revenue From 39,000 Barrels, All Domestic

Sonal Goyal

21 October 2026 01:26 PM AEDT

Jupiter Energy (ASX:JPR) Posts US$1.925m Kazakh Oil Revenue From 39,000 Barrels, All Domestic

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Key Highlights

Unaudited oil sales revenue including VAT was about US$1.925m (about A$2.72m) for the September 2026 quarter, from about 39,000 barrels sold at an average of about US$49.50 per barrel.
All sales went through two joint ventures into domestic refineries, with no oil sold to local mini refineries or into the export market.
Net operating cash flow was A$104,000 and cash ended the quarter at A$172,000, after A$417,000 of borrowings were repaid.
Four Noteholders have agreed to extend the interest-free period on US$13,873,261 of debt to at least 31 December 2028, and oil for October to December 2026 has been sold on a prepaid basis.

Jupiter Energy Limited (ASX:JPR) reported unaudited oil sales revenue, including VAT, of about US$1.925 million (about A$2.72 million) for the quarter ended 30 September 2026, from sales of about 39,000 barrels of oil into Kazakhstan's domestic market. All sales went through domestic refineries and none went to the export market. Cash receipts for the quarter were about A$2.76 million, and unaudited net cash reserves at 30 September 2026 stood at about A$0.172 million. The company said oil production during the quarter was in line with expectations.

Production by Field and Where the Oil Went

All of Jupiter's production wells operate under Full Commercial licences. Approximate production for the quarter was 9,700 barrels from Akkar North (East Block), from well J-50; 22,000 barrels from Akkar East, from wells J-51, J-52 and 19; and 8,900 barrels from West Zhetybai, from well J-58. Together that is roughly 40,600 barrels, against about 39,000 barrels sold during the quarter. Inventory at 30 September 2026 was about 1,600 barrels, which was sold in October 2026.

Oil sales are subject to a monthly domestic quota set by the Kazakh Ministry for Energy, and oil produced outside that quota can be sold through other channels, including into the export market. During the quarter, sales were made through two joint ventures into domestic refineries at an average price of about US$49.50 per barrel. Jupiter met all costs of storing and transporting the oil to the refineries. No oil was sold through local mini refineries, and there were no export sales. The company said it continues to monitor the export pricing formula offered by traders and will return to that channel if the netback, which takes into account discounts, logistics and taxes, is better than what domestic channels deliver.

Prepayments, Cash Receipts and the Cash Flow Statement

Jupiter said the quarter's revenue was secured through prepayments from domestic oil traders. Cash receipts of about A$2.76 million were roughly A$40,000 above the A$2.72 million of revenue recognised, a variance the company attributed to the timing of oil prepayments, which are amortised over the period in which the oil is delivered.

The Appendix 5B cash flow report shows receipts from customers of A$2,762,000. Payments for production were A$1,947,000, staff costs A$371,000 and administration and corporate costs A$369,000, partly offset by interest received of A$19,000 and other receipts of A$10,000, leaving net operating cash flow of A$104,000. Investing outflows were A$35,000 for property, plant and equipment, and financing outflows were A$417,000 of borrowings repaid. After a A$30,000 reduction from exchange rate movements, cash fell from A$550,000 at the start of the quarter to A$172,000 at the end. Payments to related parties were A$125,000, covering director and consulting fees, including fees paid to Geoff Gander and Alexander Kuzev for consulting services.

Noteholder Debt, Share Count and Corporate Dates

Total debt owed at 30 September 2026 was US$13,873,261, or about A$19.87 million, and it is unsecured Noteholder debt. On 1 September 2026 the company announced that the four Noteholders had agreed to extend the interest-free period from 31 December 2026 to at least 31 December 2028, an extension of two years. Jupiter will keep making repayments as cash reserves allow, using funds generated from oil sales. It reported 1,282,385,521 listed shares on issue, including Treasury Shares, and no other options or performance shares.

The company said it operates under an approved Operations Budget funded by net revenues from prepaid oil sales, and it expects to remain funded at an operational level for the foreseeable future under differing well production scenarios. It has agreed pricing to sell all oil produced in October, November and December 2026, all on a prepaid basis. The 2026 Annual Report was lodged on 30 September 2026, and the Annual General Meeting will be held on 10 November 2026, with the Notice of Meeting sent to shareholders on 9 October 2026.

The Quarter in Summary

Jupiter Energy Limited (ASX:JPR) sold about 39,000 barrels of oil in the September 2026 quarter for unaudited revenue of about US$1.925 million, all into the Kazakh domestic market and all secured through prepayments. Production came from Akkar North, Akkar East and West Zhetybai, and its interest in Contract 2275/4803 remained at 100%. The company ended the quarter with A$172,000 in cash and US$13,873,261 of Noteholder debt, and its fourth-quarter oil is already sold on a prepaid basis.

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