Jura Energy Corporation: Drilling Update Total Depth Reached on Ayesha-1 Well
January 29 2014 - 9:28AM
Marketwired
Jura Energy Corporation: Drilling Update Total Depth Reached on
Ayesha-1 Well
CALGARY, ALBERTA--(Marketwired - Jan 29, 2014) - Jura Energy
Corporation ("Jura") (TSX:JEC) is pleased to update that Ayesha-1
well in the Badin IV South Block has been drilled to the targeted
depth of 2,400 meters. Gas shows were observed over an
approximately 50 meter section in the targeted Lower Goru
formation. Electronic logging of the hole is complete and the
results indicate potential hydrocarbon-bearing zones within the
Lower Goru "A" and "B" Sands. The liner running is in progress.
Drill stem testing for the "B" Sand is scheduled to commence in
three days.
The Badin IV South
Block joint venture partners are in the process of finalizing the
testing program. Jura expects to perforate approximately 25 meters
in the test zones, which have a gross sand thickness of
approximately 80 meters.
Jura holds a 27.5%
working interest in the Badin IV South Block, which is operated by
Petroleum Exploration (Pvt) Limited.
About Jura Energy
Corporation
Jura is an
international energy company engaged in the exploration,
development and production of petroleum and natural gas properties
in Pakistan. Jura is based in Calgary, Alberta, and listed on the
TSX trading under the symbol JEC. Jura conducts its business in
Pakistan through its subsidiaries, Frontier Holdings Limited and
Spud Energy Pty Limited.
Forward Looking
Advisory
This press
release contains certain forward-looking statements and
forward-looking information (collectively referred to
herein as "forward-looking statements") within the meaning of
Canadian securities laws. The words "approximately", "targeted",
"indicate", "potential", "scheduled", "finalizing", "expects", and
similar expressions are used to identify forward looking
information. Specific forward-looking statements in this
press release include information concerning the testing of
exploratory well Ayesha-1.
The
forward-looking statements contained in this press release are
based on management's beliefs, estimates and opinions on the date
the statements and are made in light of management's experience,
current conditions and expected future development in the areas in
which Jura is currently active and other factors
management believes are appropriate in the circumstances. Jura
undertakes no obligation to update publicly or revise any
forward-looking statement or information, whether as a result of
new information, future events or otherwise, unless required by
applicable law.
Readers are
cautioned not to place undue reliance on forward-looking
information. By their nature, forward-looking statements are
subject to numerous assumptions, risks and uncertainties that
contribute to the possibility that the predicted outcome will not
occur, including some of which are beyond Jura's control. These
assumptions and risks include, but are not limited to: the risks
associated with the oil and gas industry in general such as
operational risks in exploration, development and production,
delays or changes in plans with respect to exploration or
development projects or capital expenditures, the imprecision of
resource and reserve estimates, assumptions regarding the timing
and costs relating to production and development as well as the
availability and price of labour and equipment, weather, volatility
of and assumptions regarding commodity prices and exchange rates,
marketing and transportation risks, environmental risks,
competition, the ability to access sufficient capital from internal
and external sources and changes in applicable law. Additionally,
there are economic, political, social and other risks inherent in
carrying on business in Pakistan. There can be no assurance that
forward-looking statements will prove to be accurate as actual
results and future events could vary or differ materially from
those anticipated in such statements. See Jura's Annual Information
Form for the year ended December 31, 2012, available on
SEDAR at www.sedar.com, for further description of the risks and
uncertainties associated with Jura's business.
Jura Energy CorporationMr. Shahid HameedInterim CEO+92 51 282
5011+92 51 287 0331info@juraenergy.comwww.juraenergy.com