Jura Energy Corporation: Extension in the Maturity Date of C$ 11 Million Credit Facility
March 06 2014 - 6:19AM
Marketwired
Jura Energy Corporation: Extension in the Maturity Date of C$ 11
Million Credit Facility
CALGARY, ALBERTA--(Marketwired - Mar 6, 2014) - Jura Energy
Corporation (TSX:JEC) ("Jura") announced today that it has entered
into an amended C$ 11 million loan agreement ("the Facility") with
its principal shareholder, Eastern Petroleum Limited ("EPL"),
pursuant to which the Maturity Date of the Facility has been
extended for a period of six months.
The Facility is now
repayable at the demand of EPL on the earlier of (i) August 20,
2014 and (ii) ten (10) business days after the closing of a debt or
equity financing by Jura for an aggregate amount in excess of
amounts drawn down under the Facility.
As of today, Jura
has drawn down US$ 5.965 million under the original Facility. The
extension would enable Jura to utilize undrawn amount to meet its
working interest commitments in order to bring Zarghun South field
on production.
About Jura Energy
Corporation
Jura 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 trading under the symbol JEC. Jura conducts its business in
Pakistan through its subsidiaries, Frontier Holdings Limited and
Spud Energy Pty Limited.
Forward Looking
Advisory
This press
release contains certain forward-looking statements and
forward-looking information (collectively referred to
herein as "forward-looking statements") within the meaning of
Canadian securities laws. The words "would", "enable", "utilize",
"bring" and similar expressions are used to identify forward
looking information. Specific forward-looking statements in this
press release include information concerning Jura's ability to
utilize undrawn amount to meet its working interest commitments in
order to bring Zarghun South field on production.
The
forward-looking statements contained in this press release are
based on management's beliefs, estimates and opinions on the date
the statements and 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 law.
Readers 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: the risks
associated with the oil and gas industry in general such as
operational risks in exploration, development and production,
delays or changes in plans with respect to exploration or
development projects or capital expenditures, the imprecision of
resource and reserve estimates, assumptions regarding the timing
and costs relating to production and development as well as the
availability and price of labour and equipment, weather, volatility
of and assumptions regarding commodity prices and exchange rates,
marketing and transportation risks, environmental risks,
competition, the ability to access sufficient capital from internal
and external sources and changes in applicable law. Additionally,
there are economic, political, social and other risks inherent in
carrying on business in Pakistan. There can be no assurance that
forward-looking statements will prove to be accurate as actual
results and future events could vary or differ materially from
those anticipated in such statements. See Jura's Annual Information
Form for the year ended December 31, 2012, available on SEDAR at
www.sedar.com, for further description of the risks and
uncertainties associated with Jura's business.
Jura Energy CorporationMr. Shahid HameedInterim CEO+92 51 282
5011+92 51 287 0331info@juraenergy.comwww.juraenergy.com