Jura Energy (TSE:JEC) has released an update.
Jura Energy Corporation has reported a significant decrease in its year-end reserves, with proven plus probable reserves dropping from 2.601 million barrels of oil equivalent in 2022 to 535,000 by the end of 2023, largely due to arbitration proceedings and asset dispositions. The company is in the process of selling its interests in the Zarghun South Lease and Nareli Exploration License, subject to regulatory approval with expected closure in Q2 2024. Jura remains embroiled in arbitration over the disputed Badin Blocks, which has led to a lack of current reserve data for these sites in its latest reserves report.
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