Business
Jura Energy Corporation Announces Long Term Drilling Contract
CALGARY, March 11 /CNW/ - Nigel McCue, President and CEO of Jura Energy Corporation ("Jura"), ann...
About this update from Jura Energy Corporation
[{"type":"text","content":"\n\n\n\nCALGARY, March 11 /CNW/ - Nigel McCue, President and CEO of Jura Energy\nCorporation ("Jura"), announces that Petroleum Exploration (Pvt) Limited, the\nOperator of its concessions in Pakistan, has entered into a long term contract\nwith Weatherford Drilling International for the provision of a new National\nOilwell Varco 1500 hp IDEAL drilling rig.\n\n\nThe rig is presently located in Houston Texas and will be shipped to\nPakistan following its commissioning, expected April 7, 2008. The spud date\nfor the first exploration well of the drilling program is expected to be\nbetween July 1 and July 31, 2008 depending upon shipping availability.\n\n\nIn the last year, 1,523 km of 2D seismic data has been acquired over the\nJura concessions. In addition, over 1600 km2 of 3D data has been purchased\nover the Badin IV North and Badin IV South blocks. "The results of the seismic\nsurveys have been encouraging," said Mr. McCue, "we are very excited to be\nannouncing the commencement of our high impact exploration drilling program."\n\n\nJura Energy Corporation conducts its business in Pakistan through its\nsubsidiaries, Frontier Holdings Limited and Pyramid Energy International Inc.,\nas well as through its 50% interest in the Kandra Power Company (Pvt) Limited.\n\n\nAbout Jura:\n\n\nJura Energy Corporation is an international energy company engaged in the\nexploration, development and production of petroleum and natural gas\nproperties with activities conducted exclusively in Pakistan. Jura is based in\nCalgary, Alberta, and listed on the Toronto Stock Exchange trading under the\nsymbol JEC.\n\n\nForward-looking statements: This document contains statements about\nexpected or anticipated future events and financial results that are\nforward-looking in nature and, as a result, are subject to certain risks and\nuncertainties, such as general economic, market and business conditions, the\nregulatory process and actions, technical issues, new legislation, competitive\nand general economic factors and conditions, the uncertainties resulting from\npotential delays or changes in plans, the occurrence of unexpected events, and\nthe Corporation's capability to execute and implement its future plans. Actual\nresults may differ materially from those projected by management. For such\nstatements, we claim the saf...