Valeura Energy Inc. T.VLE

Alternate Symbol(s): VLERF

Energy Oil & Gas E&P

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.

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Valeura Energy Inc. > Letter to the BOD - for Shareholder use

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Comment by AndyPapon Apr 04, 2022 7:19pm

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Post# 34574975

RE:Letter to the BOD - for Shareholder use

AndyPap wrote: Fellow Shareholders,

Feel free to use this letter to send to the Board of Directors.
Feel free to modify as you see fit and send under your signature.
More steps will follow.

We shall persevere to expose the corruption of the company and the system.

Valeura Shareholders Association
Courage is contagious

______

Mr. Jim McFarland
Valeura Energy Inc.
Bow Valley Square 1
Suite 1200, 202 – 6th Avenue SW
Calgary, Alberta T2P 2R9
March 14, 2022
                                                                                                WITHOUT PREJUDICE
Dear Sir/Madam,
We, as Shareholders of Valeura Energy Inc. (Valeura), urge you to consider drastic measures be taken immediately to preserve the cash position of the company and prepare the company for a merger. We urge you to consider the change of Valeura’s current Executive Team under Mr. Guest.
Our concerns include but are not limited to:

Over a two-year period, the Executive Team, while being in a cash position, failed to complete an accretive merger.

As per our discussion, Mr. Guest wishes to be the surviving Management in a merger.

We went through a dramatic cycle in the price of oil and natural gas and Mr. Guest, produced no material results.

If Valeura had merged with any of a number of companies near the bottom of the market we would be enjoying a multiple of the current share price.

Concerns were raised at Yahoo Finance, by an independent analyst, about Mr. Guest’s non-performance and high compensation a year ago.

A year later Mr. Guest continues to run Valeura with no material results.

Continuing on the current path destroys shareholder value and corrupts the free market capitalist system we operate in.
So as to not disadvantage investors, the investment community, and the public at large, we ask that the company make any statements through a public press release, if deemed necessary.
We will pursue our interests vigorously for both Valeura the company and Valeura the symbol of corrupting the free market capitalist system.

Sincerely,

Valeura Shareholders Association
ValeuraShareholdersAssociation@gmail.com

Cc:          Tim Marchant Ron Royal
                Sean Guest                                                            Kimberley Wood
                Tim Chapman                                                        Stephanie Stimpson
                Russell Hiscock
                Jim McFarland