Jura Announces Release of Financial Statements and Provides Update on Operations

Jura Announces Release of Financial Statements and Provides Update on Operations 
CALGARY, ALBERTA -- (Marketwire) -- 03/21/13 -- Jura Energy
Corporation (TSX:JEC) ("Jura") announced the filing on SEDAR of its
consolidated financial statements for the years ended December 31,
2012 and 2011 as well as Management's Discussion and Analysis for the
year ended December 31, 2012. 
Jura also provided the following update on operations: 
Guddu License (Reti-Maru Field) 
Jura has entered into a gas sales agreement for the sale of gas from
the Guddu field to a consortium of four fertilizer manufacturers. The
agreement provides for a sale price of $5.40/MMbtu, a 10% discount to
the price prescribed under the 2012 Petroleum Policy. In exchange for
the discount, the gas will not have to be treated or processed. The
sale of gas is anticipated to commence later this year following (i)
the execution of a gas pricing agreement, (ii) the construction of a
15 km pipeline to the purchaser's facility, and (iii) final
regulatory approvals. Jura holds a 10.7% interest in the Guddu
License. 
Sara-Suri 
Jura has successfully completed rigless operations in three wells to
confirm flow rates from the previously shut-in Sara-Suri fields. The
work performed included a pressure buildup survey, saturation
monitoring, selective perforations, stimulation, production testing
and the running of velocity string in one well. The Suri-2 well
tested at 0.75 MMcf/d with a 1/4 inch choke and wellhead flowing
pressure of 120 psi. The Suri-1 well tested at 0.6 MMcf/d with a 1/4
inch choke and wellhead flowing pressure of 10 psi. The Sara-1 well
was shut-in after water inflow ceased gas production. Further testing
is in progress to establish stabilized gas flow rates and pressures. 
Jura is the operator of these fields and holds a 60% interest in the
Sara-Suri Development and Production Leases. 
Zarghun South 
A rig has been mobilized to the Zarghun South field and operations
are in progress for the recompletion of the Zarghun South-1 well.
Additional work to be completed includes the installation of surface
facilities and 25 MMcf/d gas processing plant. Sui Southern Gas
Company Limited, the purchaser of gas from Zarghun South, has
commenced construction of a 64 Km pipeline which will tie the field 
into the main gas grid. Gas sales from Zarghun South are anticipated
to commence by the fourth quarter of 2013. 
About Jura: 
Jura is an international energy company engaged in the exploration,
development and production of petroleum and natural gas properties in
Pakistan. Jura is based in Calgary, Alberta, and listed on the TSX
trading under the symbol JEC. Jura conducts its business in Pakistan
through its subsidiaries Frontier Holdings Limited and Spud Energy
Pty Limited.  
Forward Looking Advisory 
This news release contains forward-looking information which is not
comprised of historical facts. Forward-looking information in this
news release includes statements with respect to, among other things,
the level of costs required to bring the Zarghun South field on
production; expectations with respect to production and gas sales
from the Zarghun South field and the Guddu field and the timing
thereof; execution of agreements for the sale of gas by the Guddu
joint venture and receipt of final regulatory approvals therefore;
completion of pipelines from the Zarghun South field and the Guddu
field and the timing thereof; tie in of the pipeline from the Zarghun
South field with the main gas plant; continuing rigless operations in
the Sara-Suri gas fields and the timing thereof; expectations
regarding operations in the Zarghun South field and the timing
thereof, including mobilization of a drilling rig, completion of a
workover of the Zarghun South-2 well and completion of the
installation of a gas processing plant; expected pricing under the
Tight Gas Policy; anticipated method of repayment of the Facility;
and expectations regarding the application by Jura to list additional
shares issuable under the Conversion Option on the TSX. Readers are
cautioned that assumptions used in the preparation of such
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted as a
result of numerous known and unknown risks, uncertainties, and other
factors, many of which are beyond the control of Jura. These risks
include, but are not limited to: changes in interest rates applicable
to the Facility, failure of other working interest owners to fund
their working interest commitments, general economic, market and
business conditions, commodity prices and exchange rate changes,
regulatory changes, technical issues, new legislation, political and
business conditions, competitive and general economic factors and
conditions, uncertainties resulting from potential delays or changes
in plans, the occurrence of unexpected events, stock market
volatility, the ability to access sufficient capital from internal
and external sources and Jura's capability to execute and implement
its future plans. The risks outlined above should not be construed as
exhaustive. Readers are cautioned not to place undue reliance on this
forward-looking information as actual results may differ materially
from those expressed or implied in the forward-looking information.
Jura does not assume the obligation to revise or update this
forward-looking information after the date of this release or to
revise such information to reflect the occurrence of future
unanticipated events, except as may be required under applicable
securities laws.
Contacts:
Jura Energy Corporation
Mr. Graham Garner
CEO
+1 (403) 266-6364
+1 (403) 266-6365 (FAX)
info@juraenergy.com
www.juraenergy.com
 
 
Press spacebar to pause and continue. Press esc to stop.