Jura Pakastani Well Drilled Successfully, Hasan 3 on Production

Jura Energy Corporation reported the successful drilling of the Khanpur 2 well in the Block 22 Gas Field which is located in the Central Gas Basin, Pakistan.

The well was drilled to a total depth of 1,159 meters to the Sui Main Limestone reservoir on time and within budget. The well was tested at rates up to 6.71 MMcf/d; the maximum flow rate of the well is expected to be constrained by the installed 2-7/8" tubing string. The Khanpur 2 well will be tied-in to the Block 22 processing facilities after interconnecting pipeline has been laid, which is expected to occur in approximately three weeks time.

The rig will be moved to the Sadiq 2 well site following completion of an access road. Sadiq 2 is located approximately 12 kilometers from Khanpur 2 within Block 22 and is expected to spud towards the end of February. Sadiq 2 will be the third well drilled within Block 22 since September of 2007, and follows the successful drilling and completion of Hasan 3 in October 2007 and Khanpur 2 as described above. Following completion of the Sadiq 2 well, it is expected that the rig will be moved to the Hamza appraisal area for further drilling.

The Hasan 3 well, which was completed in October 2007, has been tied-in to the Block 22 processing facilities. The operator is currently producing the well at approximately 2 MMcf/d and will increase the production rate gradually over the next few weeks.

Jura holds a 10.5% participating interest in Block 22.