Valeura Energy Inc. T.VLE

Alternate Symbol(s): VLERF

Energy Oil & Gas E&P

Valeura Energy Inc. is an upstream oil and gas company engaged in the production, development, and exploration of petroleum and natural gas in the Gulf of Thailand and the Thrace Basin of Turkiye. The Company 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) and 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 2,935 barrels per day (bbls/d) of medium-weight sweet crude oil. The Company holds interests ranging from 63% through 100% in various leases and licenses in the Thrace basin. The Company is also pursuing organic and inorganic growth in Southeast Asia.

TSX:VLE - Post by User

Valeura Energy Inc. > Turkey

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Comment by Chincy1on Dec 16, 2022 2:00pm

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Post# 35176377

RE:RE:RE:Turkey

Re MD&A

Turkey

The three exploration licences, which hold the Deep Gas Play, have work commitments of geological studies and one exploration well in each licence. Through commercial arrangements with TBNG Limited, the operator of the shallow rights, two of the three commitment wells were drilled in Q3 2022, fulfilling the required work program in those blocks. The total cost to Valeura of these two wells was just over $0.4 million.

The Company believes securing a partner is the most prudent step before committing significant capital to the next appraisal drilling and testing campaign. A farm down process remains active with companies continuing to review the data, but progress has been slow with no acceptable offers received to date.

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A junior copper-gold stock trading at a bargain of monumental proportions