Jura Energy Corporation (Jura) has announced a gas and condensate discovery at its Zainab-1 exploratory well in the Badin IV North exploration license.

The drilling of Zainab-1 commenced on June 5, 2017 and reached the targeted depth on June 28, 2017. The well was logged and completed in the Lower Goru "B" Sands of Cretaceous age. Post-completion surface well testing was conducted after perforating selective intervals of approximately 16.5 meters.

The Zainab-1 well is located only 1.5 kilometers from existing gas pipeline infrastructure.

Commercial production from Zainab-1 is expected to be entitled to gas and condensate price of US$ 4.44/MMBtu and US$ 46.5/Bbl respectively, based on a carriage and freight crude oil price of US$50/Bbl, under Pakistan's Petroleum Exploration and Production Policy, 2012.

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