CALGARY, Sept. 19 /CNW/ - Jura Energy Corporation ("Jura" or the
"Company") is pleased to announce the spudding of the Hassan 3 well on the
18th of September, 2007. The Hassan 3 well is located in Block 22 in the
Central Gas Basin of Pakistan and has been designed as a development well to
target the Sui Main Limestone Reservoir at a depth of 1,022 meters; the well
is expected to take 28 days to drill and will be tied into the existing gas
processing facilities after an 8 day testing program. A second Block 22
development well, Khanpur 2, is planned to be drilled immediately thereafter.
A third well will be drilled in either Block 22 or in the Hamza Appraisal
Area, which is located adjacent to Block 22; the location will be determined
following the interpretation of two seismic surveys recently shot over both
areas. Jura has a 10.5% participating interest in Block 22 and a 13.3%
participating interest in the Hamza Appraisal area. The drilling contractor
will be the Sichuan Petroleum Administration drilling company of China for the
three well program.
The Company can also advise that five seismic programs have now been
completed in the Pakistan Central Gas Basin; Mirpur Mathelo (254 kilometers),
Salam (88 kilometers), Kandra - upper and lower reservoirs (361 kilometers),
Block 22 (62 kilometers) and the Hamza Appraisal Area (134 kilometers). The
seismic crew has now been relocated 250 kilometers south to the Badin North IV
Block where 56 kilometers of a 295 kilometer survey have been shot; upon
completion of this survey a 300 kilometer seismic survey will be undertaken on
the Badin South IV Block. The Company has a 37.5% to 50% participating
interest in each of the Blocks.
Seismic processing is currently taking place at Spectrum Geopex in Cairo.
The processed results of the Mirpur Mathelo survey are currently being
interpreted at the Company's technical office in Islamabad.
Jura's President and CEO, Nigel McCue, said, "We are extremely pleased
with the progress of the seismic surveys to date together with the very high
quality of data we have been able to obtain, sometimes in difficult terrain.
The results of the Mirpur Mathelo survey are currently being interpreted and
the processed Kandra data are due by the end of September; in all cases the
processing is proceeding ahead of schedule. In view of the very tight rig
market in Pakistan we are also pleased to see a two well drilling program
commence in Block 22 with a third well to be drilled either in Block 22 or the
Hamza Appraisal Area."
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
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.
For further information:
For further information: Mr. Nigel McCue, President & CEO, Mr. Graham
Garner, Executive Vice President, Tel: (403) 266-6364, Fax: (403) 266-6365,
Website: www.juraenergy.com, E-Mail: email@example.com