Jacobs has scored once in six appearances for Wolves since arriving from Derby County last month and manager Kenny Jackett is considering an extension.
The 22-year-old is enjoying his time with the League One club and is waiting to see what happens regarding his short-term future.
"Everyone knows as much as me, I haven't spoken to Derby yet," Jacobs told the club's official website.
"I'm just enjoying my football really, it's nice to get the opportunity to come here and play for such a big club.
"I'm enjoying my time and the lads are really good so I feel settled here now. The boys are doing really well and it's a nice place to be.
"The standard of football is really high and it's a good club to play for and I'm grateful for the opportunity.
"Hopefully I can keep that going and, depending on what happens in January, we'll see.
"Derby are flying at the minute, they're fourth in the Championship. I'll speak to the manager there (Steve McClaren) but my loan has been extended to take in the Gillingham game on January 3 so we'll see what happens after that and go from there."