RE:How does the Lira affect us?Falling Turkish lira should only have beneficial effects on VLE as far as I can tell.
CAPEX should drop. While some expenses (skilled labor, drilling rigs, pipe) will still be priced in USD and CAD and remain consistent for a Canadian company, many costs other costs may fall as the locally priced costs drop.
Revenues should not be impacted as pricing for gas is set by BOTAS and are relative to EU gas pricing. $7.50 CAD per mcf is $7.50. It shouldn't matter to VLE what the conversion rate to Turkish lira is.
Development might get an extra push from Erdogan's government in order to help decrease widening trade deficit.
While it's a more extreme case than the drop in Canadian currency at times in the past, I don't think that a falling Canadian dollar ever negatively impacted oil and gas prospects in Canada. It has generally been the reverse impact, in that low global oil prices tend to impact the Canadian economy and thus lead to a lower dollar. Not the other way around.
I can't come up with any negatives. Any help there?