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Jura Energy ( (TSE:JEC) ) has shared an announcement.
Jura Energy has secured a pre-judgment attachment order from the District Court of The Hague over Petroleum Exploration (Pvt) Limited’s rights under share purchase and farm-in agreements with KUFPEC-linked entities in the Netherlands. The attachment, obtained by Jura’s subsidiaries Frontier Holdings Limited and Spud Energy Pty Limited, is intended to secure claims totaling about EUR 20.5 million arising from prior arbitration awards and ongoing arbitration proceedings before the International Chamber of Commerce. With this legal step, Jura’s subsidiaries plan to initiate formal enforcement proceedings in the Netherlands, bolstering the company’s prospects for medium-term recovery of existing arbitral awards and potential future recovery on additional claims, which could strengthen its financial position and reinforce its leverage in ongoing disputes related to its Pakistani operations.
More about Jura Energy
Jura Energy Corporation is an international energy company focused on the exploration, development and production of petroleum and natural gas properties in Pakistan. Headquartered in Calgary and listed on the TSX Venture Exchange under the symbol JEC, the company operates in Pakistan through its subsidiaries Frontier Holdings Limited and Spud Energy Pty Limited.
Average Trading Volume: 11,883
Technical Sentiment Signal: Buy
Current Market Cap: C$3.45M
Learn more about JEC stock on TipRanks’ Stock Analysis page.