Jura announced gas and condensate discovery

2/19/2014

Jura announced gas and condensate discovery

CALGARY -- Jura Energy announced a gas and condensate discovery at the Ayesha-1 exploration well in the Badin IV South block.

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 MMcfpd 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.

Shahid Hameed, CEO of Jura, commented on the Ayesha-1 test results saying, "We are delighted with the successful test results. Given Ayesha-1's proximity to existing processing and pipeline infrastructure, this commercial discovery could be brought into production on a fast track basis. Our Badar and Guddu fields are already in production and first gas production is anticipated from Zarghun South in the first half of 2014."

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