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An update from Jura Energy ( (TSE:JEC) ) is now available.
Jura Energy Corporation announced that the High Court of Justice in England and Wales has dismissed in full an appeal by Petroleum Exploration (Private) Limited challenging the arbitrator’s jurisdiction over key reliefs granted to Jura’s subsidiaries in an International Chamber of Commerce arbitral award. The UK court decision confirms that Frontier Holdings Limited retains its 27.5% working interest in the Badin IV South and Badin IV North assets and that PEL is not entitled to seek forfeiture of that interest, while also awarding approximately GBP 384,000 in costs to Jura’s subsidiaries and issuing an anti-suit injunction against PEL. With the legal challenge removed, Jura has resumed steps to enforce the arbitral award, reducing a major element of legal uncertainty around its Pakistani asset base and strengthening its position in ongoing operations, although the company expects the enforcement process to extend into the medium term.
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, including a 27.5% working interest in the Badin IV South and Badin IV North petroleum concessions.
Average Trading Volume: 11,939
Technical Sentiment Signal: Buy
Current Market Cap: C$2.42M
Learn more about JEC stock on TipRanks’ Stock Analysis page.