I certainly don't mind explaining but perhaps you could be a bit more specific regarding what's causing you problems.
The regexp looks for an opening brace (\{) followed by 1 or more characters that are not a closing brace ([^}]). See perlre.
If no matches were found, the next line of input is read. See next and unless.
Loop through what was captured and output. See say and for.
All the documentation links I've provided here are to pages on http://perldoc.perl.org/. I have that link bookmarked and use it often: I suggest you do the same.
It's good that you're wrapping your code and data in <code>...</code> tags. It's less good that you're wrapping everything in these tags. If it's not code or data, paragraph tags (<p>...</p>) are usually more appropriate. Take a look at Writeup Formatting Tips.
-- Ken
In reply to Re^3: Perl Log file extraction help required
by kcott
in thread Perl Log file extraction help required
by renjoooz
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