Jura Energy Corporation
TSX : JEC

Jura Energy Corporation

May 14, 2009 06:43 ET

Jura Energy Issues Drilling Update

TOTAL DEPTH REACHED ON RAFAY-1 AND JAMALI DEEP WELLS

CALGARY, ALBERTA--(Marketwire - May 14, 2009) - Jura Energy Corporation ("Jura") (TSX:JEC) provided the following update on its drilling activities.

Mirpur Mathelo Block (Block #2769-9)

The Rafay-1 well has been drilled to a total depth of 3,671m. Gas shows were observed over a 480m section in the targeted Lower Goru, including components up to nC5. Logging of the hole is complete and the results indicate several potential hydrocarbon-bearing zones within the Lower Goru "B" and "C" Sands. The liner has been run and set. Drill stem testing is scheduled to commence in 4 days.

The joint venture is in the process of finalizing the testing program. Jura expects to perforate at least 38m in the test zones, which have a gross sand thickness of approximately 96m.

Through its subsidiary, Frontier Holdings Limited, Jura has a 35% interest in the Mirpur Mathelo Block. Jura's interest may be reduced to 28% in the event the Government of Pakistan exercises back-in rights under the Petroleum Concession Agreement. The remaining interest is held by the Operator, Petroleum Exploration (Pvt) Ltd.; Government Holdings (Pvt) Ltd.; and Gulf Petroleum Exploration International.

Badin IV North Block (Block #2468-6)

The Jamali Deep-1 well has been successfully drilled to a total depth of 3,872m. Gas shows were observed over 1,300m throughout the targeted Lower Goru. Logging of the hole is complete and the results indicate several potential hydrocarbon-bearing zones in the Lower Goru Massive Sand. The liner has been run and set. Drill stem testing is scheduled to commence in 6 days.

The joint venture is in the process of finalizing the testing program. Jura expects to perforate at least 49m in the test zones, which have a gross sand thickness of approximately 85m. Additional zones within the "A" and "B" Sands of the Lower Goru Upper Sands are also being considered for testing.

Through its subsidiary, Frontier Holdings Limited, Jura has a 37.5% interest in the Badin IV North Block. The remaining interest is held by the Operator, Petroleum Exploration (Pvt) Ltd. and Gulf Petroleum Exploration International.

Jura noted the extraordinary support that the Government of Pakistan - Ministry of Petroleum and Natural Resources had provided to the Operator and all joint venture partners throughout the drilling of both wells.

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 subsidiaries, Frontier Holdings Limited and Pyramid Energy International Inc., as well as through its 50% interest in the Kandra Power Company (Pvt) 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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