(JEC) TSX
CALGARY, Oct. 23 /CNW/ - Jura Energy Corporation ("Jura" or the
"Company") is pleased to announce that its Joint Venture Partner, Petroleum
Exploration (Pvt) Limited has entered into a Seismic Data Acquisition Contract
(the "Contract") with the Oil and Gas Engineering Company of Sichuan Petroleum
Administration ("SPA").
The Contract provides for the shooting of approximately 600 kilometres of
2D seismic over five exploration licences, Mirpur Mathelo, Kandra (Lower
Goru), Salam, Badin IV North and Badin IV South, and one Development Lease,
Kandra (SML); all Blocks being located in Pakistan in the Middle and Lower
Indus Gas Basins. Jura holds between a 37.5% and 50% participating interest in
each Block.
SPA will mobilise its crew from China to Pakistan within the next sixty
days and all seismic surveys have been estimated to be completed within eight
to twelve months from the Contract award.
Nigel McCue, the President and CEO of Jura commented "We are extremely
pleased to have secured the services of SPA who have an excellent reputation
and who are using the very latest generation of seismic equipment. The
commencement of the seismic programmes now means that we shall be able to plan
for the contracting of one or more rigs to fulfil our twenty-four well
drilling programme."
About Jura:
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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