Eastern Petroleum Grabs Majority Stake In Jura Energy

Law360, New York (November 23, 2011, 4:50 PM EST) -- Private equity holding firm Eastern Petroleum Ltd. will assume majority ownership in Canada's Jura Energy Corp. in exchange for control of a Pakistan-based oil and gas company, Jura announced Wednesday.

Under the terms of the deal, Eastern Petroleum, which is incorporated in Mauritius, will turn over Spud Energy Pty. Ltd. to Jura and receive 73.6 percent of the Calgary-based energy company's stock.

Spud Energy, which Jura said had a working interest in five petroleum projects in Pakistan, will be transferred to Jura ownership once the deal...
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