Jura Announces Gas Discovery in Guddu Block
March 05 2014 - 3:05AM
Marketwired
Jura Announces Gas Discovery in Guddu Block
CALGARY, ALBERTA--(Marketwired - Mar 5, 2014) - Jura Energy
Corporation ("Jura") (TSX:JEC) today announced a commercial gas
discovery at the Maru East-1 exploration well in the Guddu
block.
The Maru East-1 well
was completed in the Pirkoh Limestone Formation of Eocene age.
During short duration post-stimulation test on 32/64 inch choke
size, the well flowed gas at a rate of 3 MMcf/d with wellhead
flowing pressure of 450 psi and a heating value of approximately
700 Btu/Scf.
The Maru East-1 well
is located approximately 1.5 Km from existing Guddu pipeline
infrastructure. Anticipated future production from the Maru East-1
discovery is expected to be entitled to a gas price of US$6 per
MMBtu under Pakistan's Petroleum (Exploration & Production)
Policy, 2012.
Jura holds a 10.66%
working interest in the Guddu block, which is operated by Oil and
Gas Development Company 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", "continue",
"entitled", "anticipated", "early", "expected" and similar
expressions are used to identify forward looking information.
Specific forward-looking statements in this press release include
information concerning anticipated future gas production from Maru
East-1 and entitlement of the gas price under Pakistan's Petroleum
(Exploration & Production) Policy, 2012 for the Maru East-1
discovery.
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 and recovery of its
oil and gas reserves and resources.
Mr. Shahid HameedInterim CEO+92 51 282 5011+92 51 287
0331info@juraenergy.comwww.juraenergy.com