CALGARY, Alberta, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Jura Energy Corporation ("Jura" or the "Company") reports that the District Court of The Hague (the "Dutch Court") granted leave to place a pre-judgment attachment in respect of Petroleum Exploration (Pvt) Limited's ("PEL") rights under:
| (a) | the Share Purchase Agreements with KUFPEC Pakistan Holdings B.V., a company incorporated in the Netherlands, for PEL's acquisition of 100% of the shares of KUFPEC Pakistan Holdings B.V's three subsidiaries (the "SPA Rights"), and |
| (b) | the Farm-in Agreement with Kirthar Pakistan B.V., a company incorporated under the laws of the Netherlands, for PEL's acquisition of Kirthar Pakistan B.V.'s entire working interest in the Bhit and Badhra Leases in the Kirthar Block (the "Farm-In Rights"). |
Jura's wholly-owned subsidiaries, Frontier Holdings Limited ("FHL") and Spud Energy Pty Limited ("Spud"), (together, the "Attachment Creditors"), filed an application seeking a pre-judgment attachment order over PEL's SPA Rights and Farm-In Rights. The application seeks to enforce the Attachment Creditors' claims under:
| (i) | The previously-announced International Chamber of Commerce ("ICC") Partial Final Award and Final Award dated December 12, 2024 and March 31, 2025, respectively ("SA Awards"), in favor of the Attachment Creditors amounting to US$8.7 million (EUR7.4 million); and |
| (ii) | Additional claims ("Additional Claims") advanced by FHL in respect of an ongoing ICC arbitration amounting to US$12.8 million (EUR10.9 million). |
The Dutch Court granted the pre-judgement attachment over PEL's SPA Rights and Farm-In Rights to secure the Attachment Creditors' claims totaling EUR20.5 million (including interest and costs). The Attachment Creditors will commence formal proceedings for the recognition and enforcement of the SA Awards in the Netherlands. The pre-judgment attachment for the Additional Claims shall remain in effect until the conclusion of the ongoing ICC arbitration.
Management of Jura views the Dutch Court ruling as another significant legal success for FHL and Spud, which management anticipates will lead to recovery of the SA Awards in the medium-term and eventual recovery of the Additional Claims.
About Jura Energy Corporation
Jura is an international energy company engaged in the exploration, development and production of petroleum and natural gas properties in Pakistan. Jura is based in Calgary, Alberta, and listed on the TSX-V trading under the symbol JEC. Jura conducts its business in Pakistan through its subsidiaries, Frontier Holdings Limited and Spud Energy Pty Limited.
Forward Looking Advisory
This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws. The words - will", - approximately", and similar expressions are used to identify forward looking information. Specific forward-looking statements in this press release include information regarding the estimated amount of costs, the ability of Jura and the anticipated timeline to enforce the awards against PEL.
The forward-looking statements contained in this press release are based on management's beliefs, estimates and opinions on the date the statements are made in light of management's experience, current conditions and expected future development in the areas in which Jura is currently active and other factors management believes are appropriate in the circumstances. Jura undertakes no obligation to update publicly or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise, unless required by applicable law.
Readers are cautioned not to place undue reliance on forward-looking information. By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties that contribute to the possibility that the predicted outcome will not occur, including some of which are beyond Jura's control. These assumptions and risks include but are not limited to: uncertainty relating to the outcome of the arbitration involving PEL, including the success of the Additional Claims, and uncertainty relating to the ability of Jura to successfully enforce arbitral awards against PEL, including anticipated timing for recovery of the SA Awards and the Additional Claims, if any. Additionally, there are economic, political, social and other risks inherent in carrying on business in Pakistan. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. See Jura's Management's Discussion and Analysis for the year ended December 31, 2024, available on SEDAR+ at www.sedarplus.ca, for further description of the risks and uncertainties associated with Jura's business.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Stephen Smith, Chairman, Jura Energy Corporation
E-Mail: info@juraenergy.com
Website: www.juraenergy.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
