CALGARY, ALBERTA -- (Marketwired) -- 03/20/14 -- Jura Energy Corporation ("Jura") (TSX: JEC) announced today that the Haleema-1 well in the Badin IV South block was drilled to the total depth of 1,849 meters. The target sands within the Lower Goru were encountered close to prognosis. The open hole wireline logging of the well was completed on March 18, 2014 and based on the interpretation of logs, the formations were found to be water bearing. Consequently, the well will be plugged and abandoned without testing.
The drilling rig will be released on March 21, 2014.
Jura holds a 27.5% working interest in the Badin IV South block, which is operated by Petroleum Exploration (Private) 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, including statements with respect to the timing for release of the drilling rig. The word "will" and similar expressions are used to identify forward looking information.
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.
Contacts:
Jura Energy Corporation
Mr. Shahid Hameed
Interim CEO
+92 51 282 5011
+92 51 287 0331 (FAX)
info@juraenergy.com
www.juraenergy.com
