Jura Announces Filing of Year End 2023 Financial Statements, MD&A and Reserves Report and Reconciliation of Reserves - Seite 2

Impact on 2023 Reserves

In connection with the PEL Arbitrations, PEL has refused to provide information regarding the Badin Blocks to Jura and its independent reserves evaluators and, therefore, no current information regarding the Badin Blocks appears in Jura’s 2023 Reserves Report. Jura’s 2023 Reserves Report therefore contains technical revisions which include a significant downward revision reflecting: (i) the exclusion of any reserves previously attributed to the Badin IV North and Badin IV South blocks due to the unavailability of information reasonably necessary to enable Jura to estimate reserves for those properties as of December 31, 2023; and (ii) dispositions representing remaining recoverable reserves of the Zarghun South Lease effective November 1, 2023, which Jura has agreed to assign to MPCL. As a result, Jura’s 2023 Reserves Report indicates a decrease in the amount of Jura’s proved plus probable reserves from 2,601,000 barrels of oil equivalent (“Boe”) as at December 31, 2022 to 535,000 Boe as at December 31, 2023 as follows: (i) 1,366,000 Boe for technical revisions, which includes 1,182,000 Boe relating to lack of information for the Badin Blocks; (ii) 474,000 Boe related to the disposition at Zarghun South; and (iii) 226,000 Boe related to production during the year. For more information, see the Reserves Report, and in particular “Significant Factors or Uncertainties – Exclusion of Reserves” in the Reserves Report available on SEDAR+. Upon resolution of the PEL Arbitrations and regularized access to operating and production information for the Badin Blocks, Jura anticipates being able to provide an update on remaining reserves for the Badin Blocks.

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 Spud Energy Pty Limited.

Forward Looking Advisory

This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws. The words "will", "approximately", and similar expressions are used to identify forward looking information. Specific forward-looking statements in this press release include information regarding the completion of the sale of the Company’s indirect 40% working interest in the Zarghun South Lease and its indirect 27.55% working interest in the Nareli Exploration License, and the regulatory approvals and closing conditions required therefor, and well as an update on the reserves information for the Badin Blocks.