Jura Energy Corporation: Haleema-1 Well Update
March 20 2014 - 6:33PM
Marketwired
Jura Energy Corporation: Haleema-1 Well Update
CALGARY, ALBERTA--(Marketwired - Mar 20, 2014) - Jura Energy
Corporation ("Jura") (TSX:JEC) announced today that the Haleema-1
well in the Badin IV South block was drilled to the total depth of
1,849 meters. The target sands within the Lower Goru were
encountered close to prognosis. The open hole wireline logging of
the well was completed on March 18, 2014 and based on the
interpretation of logs, the formations were found to be water
bearing. Consequently, the well will be plugged and abandoned
without testing.
The drilling rig
will be released on March 21, 2014.
Jura holds a 27.5%
working interest in the Badin IV South block, which is operated by
Petroleum Exploration (Private) 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, including statements with respect to the timing
for release of the drilling rig. The word "will" and similar
expressions are used to identify forward looking
information.
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