Jura Energy Corporation

Jura Energy Corporation

November 04, 2013 08:28 ET

Jura Announces Planned Drilling of Two Exploration Wells in the Badin IV South Block

CALGARY, ALBERTA--(Marketwired - Nov. 4, 2013) - Jura Energy Corporation ("Jura") (TSX:JEC) is pleased to announce that the operator of the Badin IV South block has entered into an agreement with Dewan Drilling Limited for the provision of a 900 HP drilling rig. The rig will be mobilized to drill the Ayesha-1 and Haleema-1 exploratory wells in the Badin IV South block. Drilling is expected to commence by the end of December 2013.

Jura holds a 27.5% working interest in Badin IV South through its wholly-owned subsidiary, Frontier Holdings Limited. The Badin IV South block lies in the Lower Indus Basin petroleum fairway and covers an area of 1,265 km2. It is located in the administrative Districts of Thatta and Badin in the Sindh Province of Pakistan.


The Ayesha-1 well is planned to be drilled to a total depth of 2,400m. The Ayesha-1 prospect is delineated on 3D seismic, with the primary objectives being the Lower Goru A, B and C sands of Cretaceous age. The Upper Goru sands produce oil, gas and condensate in several existing fields situated in the vicinity of Ayesha-1, which is located 7 km from existing pipeline infrastructure. Condensate and oil produced in the area is generally trucked to refineries in Karachi.


The Haleema-1 well is planned to be drilled to a total depth of 1,800m. The well will also target the Lower Goru A, B and C sands to test the hydrocarbon potential of the structure delineated on 3D and 2D seismic. Haleema-1 is located approximately 10 km from existing pipeline infrastructure.

About Jura:

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 "expect", "anticipate", "believe", "estimate", "may", "will", "should", "intend", "forecast", "plan", and similar expressions are used to identify forward-looking information. Specific forward-looking statements in this press release include information concerning the drilling of the Ayesha-1 well and the Haleema-1 well and the expected timing and depth thereof.

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 statements 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 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.

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