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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Post by Sil.Don May 10, 2017 11:58pm

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Post# 26229656

1st Qtr released tonight

Outlook The Company is targeting a net capital expenditure program of $15 to $16 million (net) in 2017 (excluding acquisitions and dispositions in Q1 2017), directed entirely to the shallow gas business. The Company has the flexibility to control the pace of spending since it is now the operator of the TBNG JV. The capital program is expected to include drilling of up to seven wells (gross) in the shallow formations on the TBNG JV lands and Banarli licences, targeting to deliver 2017 exit rate net sales of approximately 1,500 boe/d. The first Banarli Farm-in well, Yamalik-1, is expected to spud in May 2017. The 3D seismic program is expected to commence in Q3 2017.

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Visionstate set to leverage success in the U.S. market