CALGARY, Aug. 27 /CNW/ - Jura Energy Corporation ("Jura") is pleased to
announce that the drilling of the Sadiq 2 well commenced on August 26, 2008 at
11:00 am local time. The Sadiq 2 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 1,104 meters; the well is
expected to take 30 days to drill and will be tied into the existing gas
processing facilities after an anticipated 8 day testing program.
Sadiq 2 will be the third well drilled within Block 22 since September of
2007, and follows the successful drilling and completion of Hasan 3 in October
2007 and Khanpur 2 in January 2008. Both Hasan 3 and Khanpur 2 have been on
production since early 2008.
Jura holds a 10.5% participating interest in Block 22 through its
subsidiary, Pyramid Energy International Inc.
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)
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. Graham Garner, Acting President & CEO, Tel:
(403) 266-6364, Fax: (403) 266-6365, Website: www.juraenergy.com, E-Mail: