Pak-focused Jura Closes Term Financing Facility
Pakistan-focused but Canada-listed Jura Energy July 11 said its wholly-owned subsidiary, Spud Energy, has entered into a secured long-term financing facility totaling Pakistan rupees 150mn ($0.95mn) with JS Bank, a related party of Jura.
The funds will be used to finance its capital expenditure requirements for the Zarghun South lease held by Spud Energy, it said.
The Zarghun South gas field is located in the Balochistan province of Pakistan, approximately 40 km east from the regional capital Quetta. The development and production lease lies in the Mastung, Dadhar, and Sibbi districts. According to Jura, gas sale from two wells started in August 2014 after commissioning of a 25mn ft3/d capacity processing plant and construction of a 12-inch 64-km long sales gas pipeline from the field gate to the city of Quetta.
Jura has a 40% working interest in the filed with Mari Petroleum having 35% interest, Government Holdings Private 17.50% and PKP Exploration 7.5%.