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Jura Energy Corporation - Kandra Exploration Well to Spud in August
(JEC) TSX CALGARY, Aug. 7 /CNW/ - Jura Energy Corporation ("Jura") is pleased to announce the fol...
About this update from Jura Energy Corporation
[{"type":"text","content":"\n\n\n\n(JEC) TSX\n\n\nCALGARY, Aug. 7 /CNW/ - Jura Energy Corporation ("Jura") is pleased to\nannounce the following:\n\n\nEarlier this year, Jura announced that Petroleum Exploration (Pvt)\nLimited, the Operator of its concessions in Pakistan, had entered into a\nlong-term contract with Weatherford Drilling International for the provision\nof a National Oilwell Varco 1500hp Ideal Drilling Rig.\n\n\nThe rig is currently being rigged up and tested after having been\nsuccessfully relocated to Pakistan. Jura anticipates that drilling of its\nfirst exploration well, Kandra 4D, will commence in the latter half of August\nonce the drilling rig has been commissioned. The target depth of the Kandra 4D\nwell is 2,350 meters, which will allow for the evaluation of three separate\ngeological horizons that have been identified as prospective hydrocarbon\nbearing formations.\n\n\nThe Kandra 4D well is the first of nine committed exploration wells in\nthe joint venture's exploration program. Following the Kandra 4D well, it is\nexpected that the rig will be mobilized to the Badin IV North block for the\ndrilling of the Jamali Deep target. Multiple leads have also been identified\nin the Badin IV South, Salam, and Mirpur Mathelo Blocks, with plans to\nfinalize drilling locations and drill an additional two wells in Badin IV\nNorth, four wells in Badin IV South, one well in Salam, and one well in Mirpur\nMathelo.\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. Jura Energy Corporation conducts its business in Pakistan through\nits subsidiaries, Frontier Holdings Limited and Pyramid Energy International\nInc., as well as through its 50% interest in the Kandra Power Company (Pvt)\nLimited.\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, com...