EPL Common Stock

Jura Energy Corporation ("Jura") (TSX:JEC) announced today that it has entered
into a C$2,000,000 credit facility (the "Facility") with an individual lender
(the "Lender") who expressed an interest in investing in the Private Placement
(as defined below). Jura will draw down on the Facility over time to satisfy
certain outstanding liabilities and to fund its operations pending the closing
of the transactions that were approved by the shareholders of Jura at the
special meeting of the shareholders that was held on January 17, 2012 (the
"Meeting"). The transactions that were approved at the Meeting (the
"Transactions") include the following:




1.  The consolidation of the common shares in the capital of Jura on the
    basis of one (1) post-consolidation common share of Jura (each a "New
    Jura Share") for every ten (10) pre-consolidation common shares of Jura;
2.  The issuance of 50,659,076 New Jura Shares to Eastern Petroleum Limited
    ("EPL") in order for Jura to acquire all of the issued and outstanding
    shares in the capital of Spud Energy Pty Limited from EPL and the
    reconstitution of the board of directors of Jura (the "Acquisition");
    and 
3.  The non-brokered private placement of 5,000,000 New Jura Shares at a
    price of C$1.00 per New Jura Share, 1,000,000 of which are anticipated
    to be issued to insiders of Jura (the "Private Placement"). 



The Facility is repayable at the demand of the Lender on the earlier of (i)
January 31, 2013 and (ii) ten (10) business days after the closing of the
Transactions. The principal amount outstanding at any time under the Facility
carries interest at the prime rate and the outstanding principal and interest is
convertible at the option of the Lender on the basis of one (1) common share in
the capital of Jura for each C$1.00 so converted (the "Conversion Option"). Jura
is making an application to the Toronto Stock Exchange ("TSX") for the listing
of the common shares in the capital of Jura that may be issued upon the exercise
of the Conversion Option on the TSX and the Conversion Option remains subject to
TSX approval.


The Facility is designed as a bridge to the closing of the Private Placement. It
is anticipated that the Facility will either be: (i) repaid in full following
the closing of the Private Placement or (ii) converted into New Jura Shares
pursuant to the Conversion Option. In the latter case, the Private Placement may
be reduced by the number of New Jura Shares issued upon the exercise of the
Conversion Option.


Closing of the Transactions is subject to satisfaction of all other conditions
precedent to closing, including obtaining conditional listing approval of the
New Jura Shares on a Canadian stock exchange, which is in progress. On December
27, 2011, an application was also made to the Director General of Petroleum
Concessions in Pakistan ("DGPC") to approve the Acquisition and, subject to the
conditions precedent to the closing of the Transactions being fulfilled prior
thereto, Jura anticipates that it will proceed expeditiously with the closing of
the Transactions once it has received DGPC's approval in respect of the
Acquisition. 


About Jura: 

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 trading under the symbol JEC.
Jura conducts its business in Pakistan through its subsidiary Frontier Holdings
Limited. 


Forward-looking statements: This document contains statements about expected or
anticipated future events, including the approval of the Acquisition by DGPC,
Canadian stock exchange approvals, the timing and the nature of the repayment of
the Facility and the closing of the Transactions, which 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 Jura's capability to
execute and implement its future plans.

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