Award of Petroleum Exploration Rights in Nareli Block CALGARY, Alberta, Oct. 16, 2021 (GLOBE NEWSWIRE) -- Jura Energy Corporation ("Jura" or the "Company") announced today that the Government of Pakistan has awarded petroleum exploration rights in the Nareli Block (3068-9) to Jura’s wholly-owned subsidiary Spud Energy Pty Limited (“SEPL”) and its Joint Venture partners Mari Petroleum Company Limited (“MPCL”) and Pakistan Oilfields Limited (“POL”).
MPCL is the operator of the Nareli Block with a 39% working interest, whereas SEPL and POL have a 29% and 32% working interest, respectively. Balochistan Energy Company Limited, the holding company of Balochistan Province, shall have an option to participate in the Nareli Block with a 2.5% carried working interest, while Government Holdings (Private) Limited may opt to participate in the Nareli Block with a 2.5% paying working interest.
The Nareli Block geologically lies in the Central Indus Basin of Pakistan and falls in the hydrocarbon prospectivity Zone-II. The Joint Venture partners are considering an aggressive exploration plan to evaluate the full hydrocarbon potential of the Block, which may include acquisition of seismic data and drilling of exploratory wells subject to the delineation of commercially drillable prospects.
The Nareli Block covers an area of approximately 2,414.95 square kilometres and is located in Harnai, Sibi and Loralai districts in the Balochistan Province of Pakistan.
Website: www.juraenergy.com https://www.globenewswire.com/news-release/2021/10/16/2315250/0/en/Award-of-Petroleum-Exploration-Rights-in-Nareli-Block.html