CALGARY, Alberta, June 11, 2020 (GLOBE NEWSWIRE) -- Jura Energy Corporation (“Jura”) is pleased to announce that its wholly-owned subsidiary, Spud Energy Pty Limited (“SEPL”), has entered into a running finance facility (the “Facility”) of Pakistan Rupees (“PKR”) 425 million (approximately US$2.58 million using the State Bank of Pakistan June 10, 2020 exchange rate of US$1 = PKR164.5543). The proceeds of the Facility will be utilized to finance the operating expenses of SEPL.
The Facility has been extended by JS Bank Limited, a related party of Jura, and carries interest at the rate of 1-month Karachi Inter Bank Offered Rate (8.34% using the State Bank of Pakistan posted rate on June 10, 2020) plus 2%, maturing one year from the date of disbursement. The interest is payable quarterly in arrears.
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-V trading under the symbol JEC. Jura conducts its business in Pakistan through its subsidiaries, Frontier Holdings Limited and SEPL.
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