Jura Energy Corporation

Jura Energy Corporation

April 14, 2011 07:00 ET

Jura Energy Corporation: Commencement of 2011 Drilling Program

CALGARY, ALBERTA--(Marketwire - April 14, 2011) - Jura Energy Corporation ("Jura" or the "Corporation") (TSX:JEC) announced today that it has been advised that Petroleum Exploration (PVT) Limited, the operator of Jura's blocks in Pakistan, has concluded all major service contracts required for the 2011 drilling program. The contracts include the provision of drilling rig by CNPC Shuanqing Drilling Engineering Company for a two-well program. The contract can be terminated without penalty following completion of the first well of the program.

The rig will be mobilized to the Wahid-1 well location in the Badin IV North Block for the drilling of a 2,300 metre well to target the A and B sands of the Lower Goru. It is anticipated that drilling of the well will commence in May of 2011. The joint venture partners have elected to defer a decision on the location of the second well of the program at this time.

Jura holds a 27.5% working interest in the Badin IV North Block and is carried through substantially all of its share of the anticipated well cost of US$ 5.4 million (gross).

About Jura:

Jura Energy Corporation is an international energy company engaged in the exploration, development and production of petroleum and natural gas properties with activities conducted exclusively in Pakistan. Jura is based in Calgary, Alberta, and listed on the Toronto Stock Exchange trading under the symbol JEC. Jura Energy Corporation conducts its business in Pakistan through its subsidiary, Frontier Holdings Limited.

Forward-looking statements: This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Corporation's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

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