11:52 AM EST - Jura Energy Corporation : announced today that the Wahid-1 well in the Badin IV North block (Pakistan) was drilled to the planned TD of 2,300 metres four days ahead of schedule. Logging of the well was completed May 31. The target sands within the Lower Goru were encountered close to prognosis. Although the logs indicate the presence of hydrocarbons within the porous sands encountered, the water saturations are deemed to be too high for commercial production. Consequently, the well will be plugged and abandoned without testing. The drilling rig will be released pending further review of the results and a decision on the location of the second well of the planned 2011 drilling program. Jura Energy Corporation
shares T.JEC are trading down $0.005 at $0.04.
