Jura Energy Spuds Hassan 3 in Pakistan
Jura Energy has spudded the Hassan 3 well on the 18th of September, 2007. The Hassan 3 well is located in Block 22 in the Central Gas Basin of Pakistan and has been designed as a development well to target the Sui Main Limestone Reservoir at a depth of 1,022 meters; the well is expected to take 28 days to drill and will be tied into the existing gas processing facilities after an 8 day testing program. A second Block 22 development well, Khanpur 2, is planned to be drilled immediately thereafter. A third well will be drilled in either Block 22 or in the Hamza Appraisal Area, which is located adjacent to Block 22; the location will be determined following the interpretation of two seismic surveys recently shot over both areas. Jura has a 10.5% participating interest in Block 22 and a 13.3% participating interest in the Hamza Appraisal area. The drilling contractor will be the Sichuan Petroleum Administration drilling company of China for the three well program.
The Company can also advise that five seismic programs have now been completed in the Pakistan Central Gas Basin; Mirpur Mathelo (254 kilometers), Salam (88 kilometers), Kandra - upper and lower reservoirs (361 kilometers), Block 22 (62 kilometers) and the Hamza Appraisal Area (134 kilometers). The seismic crew has now been relocated 250 kilometers south to the Badin North IV Block where 56 kilometers of a 295 kilometer survey have been shot; upon completion of this survey a 300 kilometer seismic survey will be undertaken on the Badin South IV Block. The Company has a 37.5% to 50% participating interest in each of the Blocks.
Seismic processing is currently taking place at Spectrum Geopex in Cairo. The processed results of the Mirpur Mathelo survey are currently being interpreted at the Company's technical office in Islamabad.
Jura's President and CEO, Nigel McCue, said, "We are extremely pleased with the progress of the seismic surveys to date together with the very high quality of data we have been able to obtain, sometimes in difficult terrain. The results of the Mirpur Mathelo survey are currently being interpreted and the processed Kandra data are due by the end of September; in all cases the processing is proceeding ahead of schedule. In view of the very tight rig market in Pakistan we are also pleased to see a two well drilling program commence in Block 22 with a third well to be drilled either in Block 22 or the Hamza Appraisal Area."
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.
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