Jura abandons Ismail-1 well

Australia

CALGARY, May 19, 2015 – Jura Energy has abandoned its Ismail-1 well in the Guddu block, in Pakistan, the company announced on Tuesday.

The decision came after an exploration well was drilled to a total depth of 825 metres, with the targeted Pirkoh Limestone formation encountered at 700 meters. Following interpretation of logs and the results of the Modular Dynamic Tester, the formation was found to be water bearing. The well was consequently plugged without testing.

The Guddu block covers an area in the Middle Indus Basin of 2,093 square kilometers. Between 2008 and 2011, five wells were drilled resulting in the Reti, Maru and Maru South gas discoveries. Gas production from the Reti-Maru gas fields commenced in December 2013.

Jura holds a 13.5 percent working interest in the Guddu block, operated by Pakistan’s Oil & Gas Development Company, which holds a 58 percent stake. Government Holdings have a 22.5 percent stake, with Egypt’s IPR Transoil holding the remaining nine percent.

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