CALGARY, Feb. 13 /CNW/ - Jura Energy Corporation ("Jura") announces that
Nigel McCue has been appointed to the position of Chairman of the Board of
Directors of Jura effective May 12, 2008. He will relinquish his current role
as President and Chief Executive Officer of the Company on that date, but will
remain active in Jura's business in an active advisory capacity thereafter.
Following the completion of the transition period, Mr. McCue will be joining
Lamprell plc (AIM: LAM) as Chief Operating Officer. Lamprell, based in the
United Arab Emirates, is the world's largest refurbisher of offshore jackup
drilling rigs and provides other specialized services to the oil industry. It
has a market capitalization of $ 1.5 billion and employs over 6,000 people.
The Board of Directors will immediately commence a search process for a
"Nigel has played a pivotal role in acquiring and advancing Jura's
projects in Pakistan," said Norm Holton, Jura's Chairman. "Under Nigel's
leadership, we have completed a 1200 km seismic program, drilled two
successful production wells in Block 22, and completed a Letter of Intent with
the Government of Pakistan for the refurbishment of the Sukkur Power Station.
The detailed engineering work for the power station is in progress and we plan
to commence our exploratory drilling program this summer."
"Peter Whitbread, Lamprell's Chief Executive Officer is a director of
Jura and both Mr. Whitbread and Steven Lamprell are large long term
shareholders of Jura. We look forward to this relationship continuing and
deepening. Jura also offers Nigel its congratulations on the appointment, and
best wishes in this new challenge. Lamprell has also confirmed that following
the transition, Nigel will remain available on an ongoing basis to ensure that
the long-term best interests of Jura are maintained."
Jura Energy Corporation is an international energy company engaged in the
exploration, development and production of petroleum and natural gas
properties with activities conducted exclusively in Pakistan. Jura is based in
Calgary, Alberta, and listed on the Toronto Stock Exchange trading under the
symbol JEC. Jura conducts its operations in Pakistan through its subsidiaries,
Frontier Holdings Limited, the Kandra Power Company (Pvt.) Limited, and
Pyramid Energy International Inc.
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. Nigel McCue, President & CEO, Mr. Graham
Garner, Executive Vice President, Tel: (403) 266-6364, Fax: (403) 266-6365,
Website: www.juraenergy.com, E-Mail: firstname.lastname@example.org