Jura Announces Commencement of Drilling in Guddu Block
January 27 2014 - 9:29AM
Marketwired
Jura Announces Commencement of Drilling in Guddu Block
CALGARY, ALBERTA--(Marketwired - Jan 27, 2014) - Jura Energy
Corporation (TSX:JEC) ("Jura") announced today that drilling has
commenced at Maru East-1 site in the Guddu block, located in the
Central Indus Basin of Pakistan. The projected depth of the
exploratory well is 770 meters, which will target the hydrocarbon
potential of the Pirkoh Limestone formation of Eocene age.
Maru East-1 is
located approximately 2 km from the existing pipeline
infrastructure of the Reti, Maru and Maru South development and
production leases ("Reti-Maru Fields") in the Guddu Block.
Commercial production from the Reti-Maru Fields commenced on
December 26, 2013.
The Guddu Block
covers an area of 2093.4 kmĀ² and is located adjacent to several
producing gas fields. 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 "projected", "target", " potential",
"will", and similar expressions are use d to identify forward
looking information. Specific forward-looking statements in this
press release include information concerning the drilling of
exploratory well Maru East-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