(JEC) TSX
CALGARY, Feb. 24 /CNW/ - Jura Energy Corporation ("Jura") announced today that drilling has commenced at the Rafay 1 well located in the Mirpur Mathelo Block. The projected depth of the well is 3,550 meters, which will target the Basal Sands of the Lower Goru formation.
The Mirpur Mathelo Block covers 254,577 acres and is located adjacent to several producing gas fields in the Central Gas Basin including the multi-tcf Mari, Qadipur and Kandhkot gas fields. Rafay 1 is the third of nine committed exploration wells in the joint venture's exploration program.
Drilling is also progressing at the Jamali Deep 1 well, which spud on December 31, 2008. As of February 23, 2009, the well has been drilled to a depth of 2,311 meters, against the planned total depth of 3,870 meters.
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. Jura Energy Corporation conducts its business in Pakistan through its subsidiaries, Frontier Holdings Limited and Pyramid Energy International Inc., as well as through its 50% interest in the Kandra Power Company (Pvt) Limited.
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.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.