Jura obtains Dutch Court pre-judgment for attachment of PEL's rights under legal agreements with Kuwait Foreign Petroleum Exploration Company ("KUFPEC")

Executive Summary

• The Dutch Court granted a pre‑judgment attachment over Petroleum Exploration (Pvt) Limited’s SPA and Farm‑In rights, securing Jura’s claim of EUR 20.5 million (including interest and costs).
• The attachment supports enforcement of previously awarded ICC arbitration amounts totaling US $8.7 million (EUR 7.4 million) plus additional claims of US $12.8 million (EUR 10.9 million).
• Jura’s management views the ruling as a significant legal victory that should enable recovery of the awards in the medium term.

Key Details

• Court Decision: District Court of The Hague granted leave for a pre‑judgment attachment on PEL’s SPA Rights (share purchase agreements) and Farm‑In Rights (working interest in Bhit and Badhra Leases).
• Attachment Creditors: Frontier Holdings Limited and Spud Energy Pty Limited, wholly‑owned subsidiaries of Jura.
• Claims Secured:
• ICC Partial Final Award & Final Award (Dec 12 2024 & Mar 31 2025) – US $8.7 M (EUR 7.4 M).
• Additional Claims from ongoing ICC arbitration – US $12.8 M (EUR 10.9 M).
• Total Secured Amount: EUR 20.5 million (including interest and costs).
• Next Steps: Attachment Creditors will commence formal proceedings in the Netherlands to recognize and enforce the SA Awards; the attachment for Additional Claims remains effective until arbitration concludes.
• Management Commentary: The ruling is described as “another significant legal success” expected to lead to medium‑term recovery of the awards and eventual recovery of additional claims.

Notable Quotes

• “Management views the Dutch Court ruling as another significant legal success for FHL and Spud, which management anticipates will lead to recovery of the SA Awards in the medium-term and eventual recovery of the Additional Claims.” – Jura Energy Corporation Management