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

Bullboard Posts

Post by sneakyvalueon Feb 08, 2018 9:15am

137 Views

Post# 27525346

I Love It!

Everything continues to unfold according to script. Management now has the cash it needs to work with STO on developing the next wells. Alternatively, the cash allows them to play poker with the majors.
Very glad that this wasn’t a debt based financing deal. While any dilution can be hard to swallow, the fact is that VLE needed to raise $50-ish million. Debt would have added risk. I’ve been bit before by debt in the energy resource sector.

I almost can’t believe what we have now: a debt free junior, partnered with a major, sitting on $50 M cash on top of 20 trillion cubic feet of gas. Kudos to management for continuing to play this out like pros.

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