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 also operates Floating Storage and Offloading (FSO) vessel Aurora, location at Nong Yao field, offshore Gulf of Thailand.

TSX:VLE - Post by User

Valeura Energy Inc

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Comment by oilfiftybuckson May 28, 2014 8:38pm

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Post# 22607898

RE:TAT new presentation: gas production going down

TNP was up on the news so not sure I agree with your analysis but i do agree with your conclusion!

HAMILTON, Bermuda, May 27, 2014 (GLOBE NEWSWIRE) -- TransAtlantic Petroleum Ltd. (TSX:TNP) (NYSE-MKT:TAT) (the "Company" or "TransAtlantic") today provided an update on its current net sales, announced an extension on its Selmo field production lease and provided details to access its 2014 annual meeting webcast, which will be broadcast live at 10 a.m. Central today.

Current Net Sales and Selmo Field Extension

TransAtlantic's current net sales are approximately 5,300 BOEPD, comprised of approximately 3,850 BOPD and approximately 8.8 MMCFPD. Oil sales increased 38% from the Company's April 2014 average as a result of production increases in the Selmo and Arpatepe fields. The Company is currently developing the southeastern portion of the Selmo field, which is less developed than the northwestern portion of the field. The Arpatepe-7 well (50% working interest) had initial production of 330 BOPD gross (165 BOPD net).

TransAtlantic was also granted a new ten-year extension to its Selmo field production lease from the General Directorate of Petroleum Affairs of the Republic of Turkey.

Chairman and Chief Executive Officer N. Malone Mitchell 3rd commented, "Once again, Turkey has shown itself to be a valuable partner and a supporter of domestic oil and natural gas production. We are very pleased to extend our Selmo lease for another ten years and look forward to making additional investments in Turkey."

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