Jura to Acquire Pakistani Assets

Jura Energy Corporation ("Jura" or the "Company") announces that the Company has entered into a purchase and sale agreement to acquire producing oil and gas assets in Pakistan. Jura also announces the results of a third party reserve report on the Kandra Gas Field and clarifies the Company's listing status.

Pyramid Acquisition

Jura has signed a Share Purchase Agreement, to acquire, together with Petroleum Exploration (Pvt.) Limited ("PEL"), all of the issued and outstanding shares of Pyramid Energy International Inc. ("Pyramid") from Asia Resources Oil Ltd. and Industrial Support Limited. Pursuant to the terms of the Share Purchase Agreement between the parties, Jura will acquire 66.66% of the shares of Pyramid and PEL will acquire 33.33% of the shares.

Pyramid's only asset is a 15.7895% interest in Block 22, which is situated in the Central Gas Basin in Pakistan. The Block 22 assets comprise three gas fields, Hasan, Khanpur and Sadiq, together with the Hamza appraisal area. The fields are currently producing approximately 16 MMcf/d of gas into a processing facility located adjacent to the Hasan Field from where it is delivered and sold to the Sui Northern Gas Pipeline Ltd. Two new production wells have been budgeted and are currently scheduled to be drilled in the first half of 2007. Block 22 is operated by PEL. Jura's portion of the budgeted costs for the drilling of these production wells is U.S.$421,000, assuming the acquisition is completed.

The consideration for Jura's interest in Pyramid is approximately US$4.8 million in cash, plus US$1,106,700 in common shares of Jura. Completion of the transaction is subject to TSX approval and to approval of the Government and State Bank of Pakistan, as well as other customary closing conditions. Jura currently expects the closing of the transaction to occur within 60 days.

Jura's President and CEO, Nigel McCue, said "we are extremely pleased to have entered into an agreement to acquire these assets which, when the transaction is completed, will represent our first production in Pakistan. We expect to receive a significant increase in production from the two new wells; in addition we believe further appraisal upside exists in the Block. These assets also complement our existing exploration, appraisal and development projects in Pakistan."

Update on Kandra Gas Field

On June 2, 2006, Jura announced that it would commission a technical report in compliance with National Instrument 51-101 in respect of the Company's 37.5% participating interest in the Kandra Gas Field. McDaniel & Associates Consultants Ltd, Calgary, ("McDaniel") was retained and has completed the technical report.

The net gas reserves of 109,165 MMcf to the end of the lease and 240,175 MMcf to the end of field life, as reported by McDaniel, confirm management's initial estimates and significantly exceed the reserves required as a feedstock for the Company's planned electrical power project. However, McDaniel was unable to classify any of the gas reserves as proved as the Company has not presently entered into a definitive gas sales contract with a gas purchaser. In line with management expectations, the pre-tax net present value of the probable reserves is marginal at a 5% discount rate due to low forecast natural gas prices associated with production from the Kandra Gas Field and the capital costs associated with the development and production from these wells.

The profitability of the planned electrical power facility, to which production from the Kandra Gas Field would be tied, has always been viewed as the accretive aspect of the development of the Kandra Gas Field. This is due to the more favorable pricing regime for electricity sales in Pakistan.

Gas prices in Pakistan are regulated by the government. Pricing is determined by a formula with reference to the price of oil, capped at U.S.$36 per barrel, and adjustments for BTU content. For the purposes of the mentioned pre-tax NPV, McDaniel assumed a price of US$2.35/Mmbtu.

	    A summary of the McDaniel report follows:




	                                          Total                    Total
	                                       Proved plus                 Proved
	                   Total    Probable   Probable     Possible    plus Probable
	                  Proved   Additional  Additional  Additional   plus Possible

	    Natural Gas
	      Gross (1)     -       118,715     118,715      65,410       184,124
	      Net (2)       -       109,165     109,165      57,398       166,563

	    (1) Gross reserves include the working interest reserves before
	        deductions of royalties payable to others.
	    (2) Net reserves include gross reserves after royalties payable to others
	        plus royalty interest reserves.


	    $1000 U.S. (1) (2) (3)

	                                           Discounted At
	                                0%       5%       10%       15%        20%
	    Before Income Taxes
	    Total Proved Reserves         -         -         -         -          -
	    Probable Reserves        53,835    14,700    -1,825    -9,397    -13,074
	    Total Proved & Probable
	     Reserves                53,835    14,700    -1,825    -9,397    -13,074
	    Possible Reserves        86,478    38,540    19,069    10,449      6,303
	    Total Proved & Probable
	     & Possible Reserves    140,312    53,241    17,244     1,052     -6,771
	    After Income Taxes
	    Proved Reserves               -         -         -         -          -
	    Probable Additional
	     Reserves                26,698     3,259    -7,041   -11,946    -14,398
	    Total Proved & Probable
	     Reserves                26,698     3,259    -7,041   -11,946    -14,398
	    Possible Reserves        44,650    20,170    10,281     5,914      3,804
	    Total Proved & Probable
	     & Possible Reserves     71,348    23,428     3,240    -6,032    -10,595

	    (1) Based on forecast prices and costs at September 30, 2006.
	    (2) Includes In-Country G&A costs but excludes interest expenses and
	        corporate overhead.
	    (3) The net present values may not necessarily represent the fair market
	        value of the reserves.

	    Update on TSX Listing

As previously announced on August 4, 2006, following Jura's conversion to an oil and gas company, the TSX had provided Jura until November 1, 2006 to meet original listing requirements on the TSX and file a technical report compliant with National Instrument 51-101 with respect to the Kandra Gas Field. As discussed above, while Jura has discharged its obligations to file the technical report, the Kandra reserves have been classified as probable and possible by McDaniel due to the absence of a definitive gas sales agreement. The reserves do not satisfy the original listing requirements of the TSX for proved developed reserves.

As a result, the TSX has placed Jura's listing under review and provided Jura 60 days in which to meet or exceed the original listing standards. Failure to meet the standards by the expiry of the 60 day period will result in delisting of Jura's common shares from the TSX, in which case Jura would apply to the TSX Venture Exchange for listing there in the appropriate listing category.

Management remains confident that it will exceed the original listing standards within the 60 day period. Management has commissioned a National Instrument 51-101 compliant technical report in respect of the Pyramid assets from McDaniel and, based upon management's review of existing engineering and other technical reports in relation to Pyramid, believes that the McDaniel Report will support the characterization of sufficient proved reserves to satisfy its obligations to the TSX.

Jura is based in Calgary, Alberta, and listed on the Toronto Stock Exchange trading under the symbol JEC.

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