Jura Announces Dismissal in Full of PEL’s Appeal against certain reliefs granted in the Settlement Agreement Arbitral Award

Core Viewpoint - Jura Energy Corporation has successfully dismissed an appeal by Petroleum Exploration (Private) Limited regarding the jurisdiction of an arbitrator, which positively impacts the enforcement of reliefs granted to its subsidiaries [1][2]. Group 1: Legal Developments - The UK Court dismissed PEL's appeal in full, which challenges the arbitrator's jurisdiction over certain reliefs granted to Jura's subsidiaries [1][2]. - The dismissal of the appeal removes legal uncertainty regarding the implementation and enforcement of the arbitral award [2]. - The UK Court awarded approximately GBP 384,000 in costs to the Claimants and granted an anti-suit injunction against PEL [3]. Group 2: Company Operations - Following the dismissal of the appeal, the Claimants have resumed steps to enforce the arbitral award, although the legal process is expected to take time [4]. - Jura Energy Corporation is engaged in the exploration, development, and production of petroleum and natural gas properties in Pakistan through its subsidiaries [5].