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The latest update is out from Jura Energy ( (TSE:JEC) ).
Jura Energy Corporation announced the sale of its subsidiary Spud Energy’s 60% working interest and operatorship in the Sara & Suri Block to its joint venture partner, Oil and Gas Development Company Limited (OGDCL). This decision comes after production in the block was halted due to decreased pressure and flow rates, and the potential for significant abandonment and reclamation obligations. The transaction aligns with Jura’s strategy to streamline its asset portfolio and reduce costs, while focusing on enforcing arbitration awards against Petroleum Exploration (Pvt.) Limited (PEL). The sale, expected to close by the end of Q4 2025 pending regulatory approval, will reduce Jura’s monthly operating costs and does not impact its reserves.
More about Jura Energy
Jura Energy Corporation is an international energy company based in Calgary, Alberta, engaged in the exploration, development, and production of petroleum and natural gas properties in Pakistan. The company operates through its subsidiaries, Frontier Holdings Limited and Spud Energy Pty Limited, and is listed on the TSX-V under the symbol JEC.
Average Trading Volume: 11,500
Technical Sentiment Signal: Sell
Current Market Cap: C$1.38M
For an in-depth examination of JEC stock, go to TipRanks’ Overview page.