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Valeura Energy Inc. T.VLE

Alternate Symbol(s):  VLERF

Valeura Energy Inc. is a Canada-based upstream oil and gas company engaged in the production, development, and exploration of petroleum and natural gas in the Gulf of Thailand and onshore Turkey. It is also pursuing inorganic growth in Southeast Asia. It holds an operating working interest in four shallow water offshore licenses in the Gulf of Thailand, which include G10/48 (Wassana field), B5/27 (Jasmine and Ban Yen fields), G1/48 (Manora field), G11/48 (Nong Yao field). It holds a 100% operating interest in license B5/27 containing the producing Jasmine and Ban Yen oil fields. It holds an operated 70% working interest in license G1/48 containing the Manora oil field, which produces approximately 3,200 barrels per day (bbls/d) of medium-weight sweet crude oil. It also has an operating interest in 0.407 million gross acres of prospective rights in the Thrace basin of northwest Turkey. It holds interests ranging from 63% through 100% in various leases and licenses in the Thrace basin.


TSX:VLE - Post by User

Bullboard Posts
Comment by dowdon Aug 13, 2017 12:57am
147 Views
Post# 26575496

RE:RE:RE:Conversation with the CFO

RE:RE:RE:Conversation with the CFO<<it's too bad that VLE has spent so much on a shockingly bad shallow well program>>

They should just admit that the shallow program is uneconomic for VLE, shut it down and let it go into runoff and generate some cash. 

VLE is now an all or nothing bet on the deep and they need all the cash they can get their hands on right now if they are going to drill a 3rd deep well with STO at 50:50 split of costs. It sounds like they are contemplating more than second well and we do not want any dilution for that. 

Even better than letting the shallow program go into runoff would be to sell it to a local for $15 million cash +/-

also, it sounds like the gas might really be there in the deep so the shallow is now irrelevant and a huge distraction not only for managment but for the present shareholders but also the potential shareholder base. 
Bullboard Posts