Jura Energy Corporation
TSX : JEC

Jura Energy Corporation

October 16, 2013 07:00 ET

Jura Announces Appointment of Interim Chief Executive Officer

CALGARY, ALBERTA--(Marketwired - Oct. 16, 2013) - Jura Energy Corporation (TSX:JEC) ("Jura") today announced that Mr. Shahid Hameed, President and Chief Operating Officer of Jura, will be appointed interim Chief Executive Officer of the company, effective October 31, 2013. Mr. Graham Garner, the current Chief Executive Officer, will step down on the same date.

Mr. Hameed has served as a Director, President and Chief Operating Officer of Jura since completion of its reorganisation on July 11, 2012 whereby Spud Energy Pty Limited ("Spud") became a subsidiary of Jura (the "RTO"). Mr. Hameed has been a Director and Chief Executive Officer of Spud since 2009. He is a trained geologist with over 30 years of experience in exploration, development, production and related projects in Pakistan and internationally. Mr. Hameed has also worked with Dewan Petroleum Private Ltd., Rally Energy Pakistan Ltd., Schlumberger Data Services in Pakistan, and Oil and Gas Development Company Limited, Pakistan's national oil company.

These management changes are part of a transition plan that commenced upon completion of the RTO. The Board is now actively conducting a search for a new Chief Executive Officer who will be a technically strong oil and gas industry executive able to add value to Jura's Pakistan operations, source expansion opportunities and continue to drive Jura forward to maximize long-term shareholder value.

Mr. Garner has agreed to assist the company for an interim period to facilitate a smooth transition and will remain on the company's Board of Directors until the earlier of the date that a permanent Chief Executive Officer has been announced or December 31, 2013.

Mr. Garner was instrumental in leading the company through the RTO process and ensuring its success. The Board wishes to thank Mr. Garner for his many contributions to Jura over the years he has been a part of the senior management team. We wish him the best of success in his next endeavours.

Mr. Garner commented: "I believe this is the right time in Jura's development to transition to a new Chief Executive Officer. It has been a privilege to have had the opportunity to lead Jura as Chief Executive Officer and I wish the company all success in the future. I would like to thank my fellow directors, the management team and our shareholders for all of their support and confidence over the years."

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.

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