Mr. Stephen Smith reports

JURA ANNOUNCES NEW CONTROLLING SHAREHOLDER AND CHANGES IN MANAGEMENT

Jura Energy Corp. has been advised by its controlling shareholder, Phoenix Exploration, that Phoenix has completed the sale of all of its common shares in the company, representing approximately 73.3 per cent of the outstanding common shares of the company, to IDL Investments Ltd., a British Virgin Islands investment company.

In conjunction with the change of control, Nadeem Farooq has stepped down as chief executive officer and a director of Jura. Mr. Farooq shall however continue to serve as an adviser to Jura's board of directors, in particular in relation to the continuing legal proceedings involving Jura's subsidiaries. Dr. Grant Pogosyan has also resigned as a director of the company.

Kashif Afzal, director of IDL, has been appointed as a director of the company. Mr. Afzal is a British businessman based in the United Arab Emirates. He is the founder of Juniper Group, a private investment and advisory firm, and is an investor in renewable energy, natural resource and carbon credits projects. Mr. Afzal holds an MSc from Oxford University and has completed the mining development professional program from the Camborne School of Mines.

The board is now composed of Mr. Afzal and incumbent directors Stephen Smith and Mehran Inayat Mirza. Arif Siddiq continues in his role as chief financial officer. The company is currently in advanced discussions with a CEO candidate and expects to announce the appointment of a replacement CEO soon.

Early warning disclosures

IDL acquired 50,659,076 common shares from Phoenix, representing approximately 73.3 per cent of the outstanding common shares of Jura, at a price of 2.5 cents per share for total consideration of $1,266,476.90. The transaction was completed by a private agreement between IDL and Phoenix, and did not occur on any stock exchange or other securities market. None of the parties to the purchase agreement are, and none of the acquired shares were acquired from or were offered to be acquired from, parties located in any province or territory of Canada. The value of the consideration paid for the acquired shares, including brokerage fees or commissions, was not greater than 115 per cent of the market price of the acquired shares as determined in accordance with Section 1.11 of National Instrument 62-104 (Take-Over Bids and Issuer Bids).

Immediately prior to the transaction, IDL indirectly beneficially owned 5,035,714 common shares, representing approximately 7.29 per cent of the outstanding common shares. Upon completion of the transaction, IDL directly beneficially owns 55,694,790 common shares, representing approximately 80.62 per cent of the outstanding common shares of Jura on a non-diluted basis. IDL has advised the company that IDL has acquired the acquired shares for investment purposes. IDL will evaluate its investment in Jura on a continuing basis and may increase or decrease its holdings in Jura, subject to market conditions and other relevant factors. IDL was formed under the laws of British Virgin Islands, its principal business is to make investments and its head office is located at Vistra Corporate Services Centre, Wickhams Cay Island, Road Town, Tortola, VG1110, British Virgin Islands.

Immediately prior to the transaction, Phoenix directly beneficially owned 50,659,076 common shares, representing approximately 73.3 per cent of the outstanding common shares of Jura on a non-diluted basis. Upon completion of the transaction, Phoenix does not beneficially own or exercise control over any shares of the company. Phoenix has advised the company that it has disposed of its common shares for investment purposes, and it may acquire shares of Jura in the future, subject to market conditions and other relevant factors, although it has no present intention to do so. The address of Phoenix is 33 Edith Cavell St., Port Louis, Mauritius.

The early warning disclosures above are issued pursuant to National Instrument 62-103 (the Early Warning Systems and Related Take-Over Bids and Insider Reporting Issues), which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the company is a reporting issuer containing information with respect to the foregoing matters. IDL and Phoenix have confirmed that the early warning reports containing additional information with respect to the foregoing matters will be filed and made available under the SEDAR+ profile of Jura.

About Jura Energy Corp.

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, Alta., and listed on the TSX Venture Exchange trading under the symbol JEC. Jura conducts its business in Pakistan through its subsidiaries Frontier Holdings Ltd. and Spud Energy Pty. Ltd.

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