CALGARY, Alberta, Oct. 02, 2026 (GLOBE NEWSWIRE) -- Jura Energy Corporation ("Jura" or the "Company") provides an update regarding the proceedings before the High Court of Justice of England and Wales in connection with the enforcement of arbitral awards obtained by Jura's wholly-owned subsidiaries, Frontier Holdings Limited ("FHL") and Spud Energy Pty Limited ("Spud"), against Petroleum Exploration (Private) Limited ("PEL").
As previously announced on July 2, 2026, the English High Court had granted an interim freezing injunction restraining PEL from disposing of or diminishing the value of certain assets in England and Wales, up to approximately US$6.96 million, pending a return hearing.
Following the return hearing, the Court declined to continue the domestic freezing injunction, concluding that FHL and Spud had not established the required real risk of dissipation of assets. The Court also ordered FHL and Spud to pay costs to a third party involved in the proceedings in the amount of GBP 125,000 and costs to PEL in the amount of GBP 145,000. The costs award to PEL was, however, made contingent on PEL having paid its amounts due under the arbitral awards made in favour of FHL and Spud.
FHL and Spud will continue to pursue enforcement of the arbitral awards and will provide further updates to shareholders 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 concerning the Jura subsidiaries' intention to continue to seek enforcement of the arbitral awards-
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 risks relating to the Jura subsidiaries' ability to successfully enforce the arbitral awards. 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.
