Jura Energy Corporation

    CALGARY, Aug. 17 /CNW/ - Due to recent disruptions in global credit
markets, and in particular, the market for asset backed security investments
in Canada, Jura Energy Corporation ("Jura" or "the Company") wishes to advise
on the status of approximately $14.9 million of its total $31.5 million in
cash and cash equivalent investments. Jura's cash management policy is to
invest in products that are ranked by the Dominion Bond Rating Service
("DBRS") as R1-High. On July 12, 2007, on the recommendation of its bank, the
Company invested a total of $14.9 million in Series A Notes (the "Notes")
issued by Structured Asset Trust (the "Trust"), a trust vehicle sponsored and
administered by Coventree Inc. and its affiliates (collectively, "Coventree").
    On August 13, 2007, Coventree initially announced that it was unable to
fund the repayment of its maturing notes due to continuing market disruption,
and that it was requesting funding under liquidity facilities in place to
support the notes. Conventree has made additional similar announcements during
the course of this week. The Company understands that certain banks providing
such liquidity facilities may have so far refused to provide the requested
    The Notes held by Jura came due and payable on August 14, 2007 but were
not repaid and remain outstanding. Jura is currently monitoring these events,
which appear to be related primarily to liquidity concerns in respect of
certain asset backed securities rather than the creditworthiness of the assets
underlying the securities. The Company has been in discussions with its bank,
Coventree and the trustees, and will continue to monitor events.
    The Company notes the announcement originating in Montreal yesteday that
a group of financial institutions, led by the Caisse de dépôt et placement du
Québec, have agreed in principle to a long-term proposal and an interim
agreement regarding Coventree's asset backed commercial paper. The effect of
this would, among other things, be to convert the Notes into term floating
rate notes maturing no earlier than the scheduled termination dates of the
underlying assets.
    The balance of Jura's cash investments of approximately $12.3 million are
invested in guaranteed investment certificates, bank acceptances, term
deposits, a bearer discount note and various term deposits with its bank. A
further US$4.3 million is invested through its bank in EnCana Corporation
commercial paper which matures on September 5, 2007.
    The Company is unable to predict how long the current market disruption
will continue, however, the Company currently believes that it has sufficient
cash available to fund its operations during this period of market
uncertainty. The Company will continue to monitor these events and will update
shareholders as appropriate.

    Forward-looking statements:

    This document contains statements about expected or anticipated future
events and financial results that are forward-looking in nature and, as a
result, are subject to certain risks and uncertainties, such as general
economic, market and business conditions, the regulatory process and actions,
technical issues, new legislation, competitive and general economic factors
and conditions, the uncertainties resulting from potential delays or changes
in plans, the occurrence of unexpected events, and the Corporation's
capability to execute and implement its future plans. Actual results may
differ materially from those projected by management. For such statements, we
claim the safe harbour for forward-looking statements within the meaning of
the Private Securities Legislation Reform Act of 1995.

    The Toronto Stock Exchange has neither approved nor disapproved the
    information contained herein.

For further information:

For further information: Mr. Graham Garner, Executive Vice President,
Mr. Paul Rose, Vice President Finance and Chief Financial Officer, Tel: (403)
266-6364, Fax: (403) 266-6365, Website: www.juraenergy.com, E-Mail:

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