Jura Commencemes Commercial Production from Badin IV South Block

Source: www.gulfoilandgas.com 2/13/2020, Location: Asia

Jura Energy Corporation is pleased to announce that, after successful testing and commissioning of production facilities, commercial production has commenced from the Ayesha, Aminah and Ayesha North leases (“Badin IV South leases”) in the Badin IV South Block.

The current production from the Badin IV South leases comprises of approximately 22 MMcf/d (net to Jura 6.05 MMcf/d) of Conventional Natural Gas (“CNG”) and 174 Bbl/d (net to Jura 46.85 Bbl/d) of Natural Gas Liquids (“NGLs”) at an average NGL yield of approximately 7.90 Bbls/MMcf. The CNG production from the Badin IV South leases is being sold to Sui Southern Gas Company Limited, whereas the NGLs production is sold directly to refineries in Pakistan.

The sale price of CNG and NGLs production from Badin IV South leases shall be determined under the Pakistan Petroleum Exploration and Production Policy 2012, using prescribed formulae for CNG and NGLs, based on the carriage and freight price of a basket of crude oil (“C&F Price”) imported into Pakistan. Based on the C&F Price of US$ 53/Bbl, the CNG and NGLs production from Badin IV South leases is expected to be entitled to a price of approximately US$ 4.54/MMBtu and US$ 48.45/Bbl respectively. The actual realized price may vary due to change in applicable C&F Price.

The Badin IV South leases covers an area of approximately 39.49 square kilometres and are located in the districts of Badin and Sujjawal, in the Sindh Province of Pakistan.

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


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