Jura Energy Corporation Provides Clarification Regarding Media Reports Concerning Its Petroleum Rights in Pakistan

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Postmedia has not reviewed the content. by GlobeNewswire Jura Energy Corporation Provides Clarification Regarding Media Reports Concerning Its Petroleum Rights in PakistanAuthor of the article:CALGARY, Alberta, Sept. 18, 2026 (GLOBE NEWSWIRE) — Jura Energy Corporation (“Jura” or the “Company”) provides clarification regarding a news article published by a Pakistani newspaper, Dawn, on September 13, 2026, which reported the possible revocation of petroleum rights held by the Company’s subsidiaries, Spud Energy Pty Limited (“SEPL”) and Frontier Holdings Limited (“FHL”), in Pakistan.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountAccording to the media report, the Petroleum Division of the Government of Pakistan has reportedly sought the advice of Pakistan’s Economic Coordination Committee (“ECC”), a cabinet-level decision-taking body, regarding possible courses of action in connection with the March 2025 transfer of a 73% shareholding in Jura by Phoenix Exploration (“Phoenix”) to IDL Investments Limited (“IDL”) (the “Share Transfer”).The article reports two options to be under consideration by the Petroleum Division: (i) revocation of the petroleum rights held by FHL and SEPL; or (ii) issuance of a warning to the Company, followed by retrospective regularisation of the share transfer.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againIn July 2025, Jura received a Show Cause Notice from the Petroleum Division in relation to the Share Transfer. In Jura’s response, SEPL and FHL explained the reasons why the Share Transfer did not require prior consent of the Government under the applicable Pakistan Petroleum (Exploration and Production) Rules, 1986 and 2001 (the “Rules”). Jura’s position was supported by an independent legal opinion from a renowned Pakistani lawyer.In light of the matters reported in the media, Jura has written to the regulatory authorities to seek clarification regarding the matters referred to in the article, including the reported courses of action under consideration by the Petroleum Division.Jura will continue to engage constructively with the relevant authorities and will assess any response or further information received in relation to the matter. The Company believes it has been in full compliance with applicable laws, regulations and contractual obligations throughout and is committed to remaining so.No Revocation of Petroleum Rights has been notifiedJura emphasizes that the media report describes possible courses of action reportedly under consideration by the relevant authorities and does not, in itself, constitute a confirmed decision to revoke the Company’s petroleum rights. In fact, Jura has had no communication from the regulatory authorities on this matter since it last responded to a query in June 2026. The press article may therefore not accurately reflect the situation.The Company is not aware of any confirmed decision revoking the petroleum rights held by FHL or SEPL and has a number of legal and other avenues open to it if such an unusual decision were to be taken. Jura will continue to monitor developments and provide further disclosure as and when required by applicable securities laws and regulations.About Jura Energy CorporationJura 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.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Thispressreleasecontainscertainforward-lookingstatementsandforward-lookinginformation(collectivelyreferredtoherein as“forward-lookingstatements”)withinthemeaningofCanadiansecuritieslaws.Thewords “will”, “continue”, “believes”, “may”, andsimilar expressionsareusedtoidentifyforwardlookinginformation.Specificforward-lookingstatementsinthispressreleaseinclude information regarding the Company’s future engagement with the relevant authorities and possible outcomes from matters under consideration by the relevant authorities. 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 lawReaders 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: uncertainties relating to the determinations of the ECC regarding possible courses of action in connection with the Share Transfer, the risk of possible revocation of petroleum rights and the legal and other avenues available to the Company in case of possible revocation of petroleum rights. There can benoassurancethatforward-lookingstatementswillprovetobeaccurateasactualresultsandfutureeventscouldvaryordiffer 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 NeitherTSXVentureExchangenoritsRegulationServicesProvider(asthattermisdefinedinpoliciesoftheTSXVenture Exchange) accepts responsibility for the adequacy or accuracy of this release.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.