Jura Energy Corporation: Badar-2 Completion and Test Results
June 16 2014 - 6:48AM
Marketwired
Jura Energy Corporation: Badar-2 Completion and Test Results
CALGARY, ALBERTA--(Marketwired - Jun 16, 2014) - Jura Energy
Corporation ("Jura") (TSX:JEC) is pleased to update that the
development well Badar-2, in the Badar lease, has been successfully
completed in the Sui Main Limestone formation of Eocene age. During
a short duration pre-stimulation test on 64/64 inch choke, the well
flowed gas at the rate of approximately 13 MMcf/d and a wellhead
flowing pressure of 697 psi.
Badar-2 is located approximately 2.2 km from the existing Badar
pipeline infrastructure. Anticipated future production from 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 "approximately", "anticipated",
"expected" "entitled" and similar expressions are used to identify
forward looking information. Specific forward-looking statements in
this press release include information concerning anticipated
future production from Badar-2 and entitlement of gas price under
Pakistan Petroleum (Exploration & Production) Policy, 2012 for
production from Badar-2.
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.
Mr. Shahid Hameed, Interim CEOTel: +92 51 282 5011Fax: +92 51
287 0331Website: www.juraenergy.comE-Mail: info@juraenergy.com