Valeura Energy Inc. T.VLE

Will Valeura Be CanAsia Partner in Offshore Bid

[nozzpack]

CanAsia current asset is the Sawn Lake heavy oil project in Canada. 

The Asia part of its name is expected to be established through participation in an anticipated  bid round for new oil concessions in Offshore Thailand.

Those auction results will be announced in February/22.
The three offshore blocks are large, so each bid will probably have multiple participants .

This is my expectation for CanAsia to fill out the Asia part of its new Corporate name.
As a long time participant in Thailand, CanAsia ...as Pan Orient... will have no trouble qualifying .
Valeura would certainly have a preference for a fresh development start in offshore Thailand and have the infrastructure , SPV background  and cash and cash flows to fund that new enterprise .

This is purely a conjecture of mine, but that smirk on SG face when asked about future acquisition plans could very well be as a JV participant with CanAsia in this current bidding round.

[Sparky5968]

Wow! That's quite a conjecture. :) It certainly raised my eyebrows and piqued my interest. As far as I know Pan Orient never delved into offshore exploration and for them (now Canasia) to suddenly take an interest in offshore exploration seems unlikely. Wondering if you have anything more tangible that might suggest they have developed an interest? TIA

[nozzpack]

Blocks up for auction are not very frequent....many years apart...so it's now or never for CanAsia. Thats why I think CanAsia is a participant in the 2022 Auction. The cost of bidding is within its budget and should it be successful, it will be easy to raise funds Besides, It won't be the operator, so no concerns there..

[Hannamuk]

Very solid foundation for claiming bid!:-)))