CALGARY, Alberta, June 05, 2026 (GLOBE NEWSWIRE) -- Jura Energy Corporation ("Jura" or the "Company") announces that the District Court of The Hague, Netherlands (the "Court"), has issued a judgment in summary proceedings ordering the lifting of the pre-judgment third-party attachments previously obtained by Frontier Holdings Limited ("FHL") and Spud Energy Pty Limited ("Spud"), wholly-owned subsidiaries of the Company.
The attachments were over certain rights of Petroleum Exploration (Private) Limited ("PEL") under agreements PEL had with KUFPEC Pakistan Holdings B.V. and Kirthar Pakistan B.V. (together "KUFPEC") and were in support of the enforcement of arbitral awards rendered against PEL and in favour of FHL and Spud.
The summary proceedings were initiated by KUFPEC seeking the lifting of the attachments. In its judgment dated June 4, 2026, the Court ordered that the attachments be lifted and awarded legal costs against FHL and Spud. The Court's decision was based on procedural grounds relating to information that the Court concluded should have been disclosed in the original attachment application. The Court did not adjudicate the merits of the claims underlying the arbitral awards obtained by FHL and Spud against PEL. Having reached its conclusion on the procedural issue, the Court expressly determined that it was unnecessary to consider the other grounds advanced by the applicants for lifting the attachments.
The Company is reviewing the Court's judgment with its legal advisers and is evaluating its legal options including its right to appeal the judgment or filing a fresh attachment application addressing the issues identified by the Court in its judgment, as well as other remedies available.
The Company will provide further updates as material developments occur.
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", and similar expressions are used to identify forward looking information. Specific forward-looking statements in this press release include information regarding the evaluation of legal options including the Company's right to appeal the judgment or filing a fresh attachment application addressing the issues identified by the Court in its judgment, as well as other remedies available.
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 and uncertainty relating to the ability of Jura to successfully enforce arbitral awards against PEL, including anticipated timing for recovery of the awards. 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, 2025, 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
T: +44 7834 834 976
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.
