The Ayesha-1 well was completed in the 'B' Sands of the Lower Goru Formation of Cretaceous age. During a short test on 32/64 inch choke, the well flowed gas with a heating value of approximately 1,000 Btu/Scf at a rate of 11.34 MMcf/d and a wellhead flowing pressure of 1,998 psi. The condensate to gas ratio was in the range of 10-12 bbl/MMcf with minimal water cut production. Detailed testing of Ayesha-1 will continue over the next few days.
Anticipated future production from the Ayesha-1 discovery is expected to be entitled to a gas price of
The drilling rig has now been released from Ayesha-1 and mobilized for the drilling of another exploration well, Haleema-1, in the Badin IV South block. The drilling of Haleema-1 is expected to commence in the first week of
Jura holds a 27.5% working interest in the Badin IV South block, which is operated by
Jura is an international energy company engaged in the exploration, development and production of petroleum and natural gas properties in
Forward Looking Advisory
This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws. The words "approximately", "will", "continue", "entitled", could", "anticipated", "expected" and similar expressions are used to identify forward looking information. Specific forward-looking statements in this press release include information concerning anticipated future gas production from Ayesha-1 and Zarghun South, detailed testing of exploratory well Ayesha-1, entitlement of gas price under Pakistan Petroleum (Exploration & Production) Policy, 2012 for Ayesha-1 discovery and commencement of drilling of Haleema-1.
The forward-looking statements contained in this press release are based on management's beliefs, estimates and opinions on the date the statements and are made in light of management's experience, current conditions and expected future development in the areas in which Jura is currently active and other factors management believes are appropriate in the circumstances. Jura undertakes no obligation to update publicly or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise, unless required by applicable law.
Readers are cautioned not to place undue reliance on forward-looking information. By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties that contribute to the possibility that the predicted outcome will not occur, including some of which are beyond Jura's control. These assumptions and risks include, but are not limited to: the risks associated with the oil and gas industry in general such as operational risks in exploration, development and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the imprecision of resource and reserve estimates, assumptions regarding the timing and costs relating to production and development as well as the availability and price of labour and equipment, weather, volatility of and assumptions regarding commodity prices and exchange rates, marketing and transportation risks, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in applicable law. Additionally, there are economic, political, social and other risks inherent in carrying on business in
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Jura Energy CorporationMr. Shahid HameedInterim CEO +92 51 282 5011 +92 51 287 0331 (FAX) firstname.lastname@example.org Source: Jura Energy Corporation