Jura Energy Corporation Announces Long Term Drilling Contract
Posted on March 12, 2008 – 10:31 am | by oilandgaspress.com
(Calgary, Alberta) 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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
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: info@juraenergy.com
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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Tags: Jura Energy Corporation, Pakistan
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