Jura Announces Commencement of Drilling in Badar Lease
April 22 2014 - 8:12AM
Marketwired
Jura Announces Commencement of Drilling in Badar Lease
CALGARY, ALBERTA--(Marketwired - Apr 22, 2014) - Jura Energy
Corporation ("Jura") (TSX:JEC) announced today that the drilling of
Badar-2 development well has commenced in the Badar lease. The
projected depth of the well is 1,445 meters, which will target the
Sui Main Limestone formation of Eocene age.
Anticipated future incremental production from Badar lease after
drilling of development well Badar-2 is expected to be entitled to
a gas price of US$ 6 per MMBtu under Pakistan's Petroleum
(Exploration & Production) Policy, 2012.
The Badar lease covers an area of 122 kmĀ² and is located in the
Middle Indus Basin of Pakistan, close to major industrial gas
markets and infrastructure.
Jura holds a 7.89% working interest in the Badar lease, 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 "projected", "anticipated",
"incremental", "expected", "entitled", "will", and similar
expressions are used to identify forward looking information.
Specific forward-looking statements in this press release include
information concerning the drilling of Badar-2 development well,
anticipated future gas production from Badar-2 development well and
entitlement of gas price under Pakistan's Petroleum (Exploration
& Production) Policy 2012 for incremental production from Badar
lease after drilling of Badar-2 development well.
The forward-looking statements contained in this press
release are based on management's beliefs, estimates and opinions
on the date the statements 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, 2013, 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