CALGARY, March 11 /CNW/ - Nigel McCue, President and CEO of Jura Energy
Corporation ("Jura"), announces that Petroleum Exploration (Pvt) Limited, the
Operator of its concessions in Pakistan, has entered into a long term contract
with Weatherford Drilling International for the provision of a new National
Oilwell Varco 1500 hp IDEAL drilling rig.
The rig is presently located in Houston Texas and will be shipped to
Pakistan following its commissioning, expected April 7, 2008. The spud date
for the first exploration well of the drilling program is expected to be
between July 1 and July 31, 2008 depending upon shipping availability.
In the last year, 1,523 km of 2D seismic data has been acquired over the
Jura concessions. In addition, over 1600 km2 of 3D data has been purchased
over the Badin IV North and Badin IV South blocks. "The results of the seismic
surveys have been encouraging," said Mr. McCue, "we are very excited to be
announcing the commencement of our high impact exploration drilling program."
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.
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