(JEC) TSX
CALGARY, Oct. 30 /CNW/ - Jura Energy Corporation ("Jura") is pleased to announce the successful drilling of the Hasan 3 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 1,022 meters to the Sui Main Limestone ("SML") reservoir on time and within budget. The well was tested at a rate of 2.7 MMscf/d pre-acidization through a 24/64" choke and constrained by 2-7/8" tubing. Post acidization, which is a normal technical procedure for the SML reservoir, it is expected that the well will produce at a significantly higher rate based upon reservoir modeling and the results of previous wells drilled in the Block. The Hasan 3 well will be acidized after an inter-connecting pipeline has been laid and tied-in to the Block 22 processing facilities. This is expected to occur in approximately six to eight weeks.
The rig is currently being moved to the Khanpur 2 well site which is located approximately 15 kilometers from Hasan 3 within Block 22. Khanpur 2 will be the second of a three well program to be drilled within the Block.
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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