Snippet from Hydra Capital blog Valeura Energy (VLE.TO, last at $3.16)
I’m not necessarily expecting news on VLE, but I wanted to add a few lines on it after having a chance to meet up with management last week. In a nutshell, things are going really well. The recently announced Wassana expansion appears to be material, and it looks like there are plenty of targets to keep Nong Yao and Jasmine as going concerns for longer than a snapshot reserves report might suggest (considering prospects/satellites/exploration potential). VLE is carving out a niche as a SE Asia specialist and it’s really settling in in terms of operations. In my meeting, I learned that VLE has created a team wholly dedicated to re-imagining, re-tooling, re-thinking and/or re-using existing infrastructure on its fields and within the region to minimize development and abandonment costs. I think that having this kind of competence in-house is going to serve VLE very well as the company seeks to develop oil where others have already found it. VLE plays on the same theme as TNZ in terms of giving international assets good homes while other companies rationalize their asset portfolios… and it trades as cheap or cheaper than almost anything in the group. Kudos to Sean Guest and his team here for pulling a Godzilla-sized rabbit out of the hat.