Kazakhstan-focused Jupiter Energy Limited's exploration licence on Block 31 has been extended to 29 December 2019.
It says a 3 year work programme (2017-2019) is now being progressed with all the relevant Kazakh regulatory authorities towards final approval.
The company is now working with various oil marketing groups to position itself for a return to oil production once all the relevant Trial Production Licences for the 2017-2019 period have been approved.
The company says it continues to work on various options to provide long term funding for the ongoing development of Block 31.
At 8:56am: (LON:JPRL) Jupiter Energy share price was 0p at 10.5p