(JEC) TSX
CALGARY, Jan. 16 /CNW/ - Jura Energy Corporation ("Jura") is pleased to announce the successful drilling of the Khanpur 2 well in the Block 22 Gas Field which is located in the Central Gas Basin, Pakistan.
The well was drilled to a total depth of 1,159 meters to the Sui Main Limestone reservoir on time and within budget. The well was tested at rates up to 6.71 MMcf/d; the maximum flow rate of the well is expected to be constrained by the installed 2-7/8" tubing string. The Khanpur 2 well will be tied-in to the Block 22 processing facilities after interconnecting pipeline has been laid, which is expected to occur in approximately three weeks time.
The rig will be moved to the Sadiq 2 well site following completion of an access road. Sadiq 2 is located approximately 12 kilometers from Khanpur 2 within Block 22 and is expected to spud towards the end of February. 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 as described above. Following completion of the Sadiq 2 well, it is expected that the rig will be moved to the Hamza appraisal area for further drilling.
The Hasan 3 well, which was completed in October 2007, has been tied-in to the Block 22 processing facilities. The operator is currently producing the well at approximately 2 MMcf/d and will increase the production rate gradually over the next few weeks.
Jura holds a 10.5% participating interest in Block 22.
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.
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.
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