Jura Energy Reports Gas Flow from Ayesha-1 in Pakistan

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

The Ayesha-1 flowed gas at a rate of 11.34 MMcf/d.

As per the company statement, anticipated future production from the Ayesha-1 discovery is expected to be entitled to a gas price of $6 per MMBtu under Pakistan's Petroleum (Exploration & Production) Policy, 2012.

“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,” Shahid Hameed, CEO of Jura, said.

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 March 2014.

Jura holds a 27.5% working interest in the Badin IV South block, which is operated by Petroleum Exploration (Pvt) Limited.

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