(JEC) TSX
CALGARY, Aug. 13 /CNW/ - Jura Energy Corporation today announces the filing of its third 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 third quarter ending June 30, 2007 continued to focus on the assessment and evaluation of data received from a seismic program that commenced in February 2007 that is to extend to all eight of the concession areas in which the Company has an interest. The Company expects to commence drilling the first of two development wells on its Block 22 concession in the third quarter of 2007 with a third development well to follow on a yet to be determined location. Production levels remained consistent in the quarter to the previous quarter from the Pyramid Energy International Inc. properties acquired on January 3, 2007.
On June 6, 2007 the Company closed a $30.0 million bought deal equity financing. 26,100,000 common shares were issued at a price of $1.15 per share. The net proceeds of $27.9 million will be used to fund a portion of the 2007 and 2008 capital program and for general corporate purposes.
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.