(JEC) TSX
CALGARY, May 15 /CNW/ - Jura Energy Corporation today announces the filing of its second quarter report for the 2007 fiscal year. Jura is listed and traded on the Toronto Stock Exchange under the trading symbol JEC.
Jura Energy Corporation is an international energy company engaged in the exploration, development and production of petroleum and natural gas properties. The Company's activities are conducted exclusively in Pakistan. The Company has ownership positions in production, exploration, appraisal and development concessions, and is presently engaged in obtaining and evaluating seismic and other data to identify drilling locations on these properties.
The Company's activities in its second quarter ended March 31, 2007 were focused on the assessment and evaluation of data received from a seismic program that commenced in February 2007 that is to extend to all six of the concession areas in which the Company has an interest. The Company expects specific drilling locations to be selected once evaluation of seismic data has been completed, with drilling expected to commence in the Company's last fiscal quarter of 2007.
By agreements dated November 3, 2006, the Company, together with its in-country partner concluded the acquisition of the shares of Pyramid Energy International Inc, - a company whose primary assets consist of interests in producing natural gas properties within Pakistan. The acquisition of the producing petroleum and natural gas properties of Pyramid Energy International Inc. has an effective date of January 3, 2007 for accounting purposes, and thus the Company's Statement of Operations for its second fiscal quarter is the first for which oil and gas operating activities are reflected.
The consolidated financial statements are available on SEDAR (www.SEDAR.com), as is the Company's Management Discussion and Analysis of these activities.
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.