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Valeura Energy Inc T.VLE

Alternate Symbol(s):  VLERF

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

Comment by firstworldon Apr 05, 2021 9:42am
173 Views
Post# 32936509

RE:RE:Management

RE:RE:ManagementIt would be funny to see a director of VLE who also owns transglobe use shareholders funds to enrich himself by selling transglobe to VLE, especially considering Egypt is extremely unstable and it would be far less risky just to complete the deep assessments that investing is terorst haven where all could be lost in no time However, that's how Canadians do "biznezz" LOL..rip off after rip off, after rip off, event the majors like bbd, and eng girls are endless bribes, kickbacks etc.
AndyPap wrote:
energee wrote: Personnel
"As at December 31, 2020, Valeura had seven full-time employees in its head office in Calgary, as well as 12 full-time employees in its office in Ankara, Turkey and 52 employees at its field office in Tekirdag, Turkey."

When they close the sale it is reasonable to assume that G&A will be lower going forward.  Plenty of people there for this micro-cap soon to have no production. 

Management had better not be lining up to the bonus trough (like they did last year for $422K) because results in 2020 were a non-event.  With the high G&A, robust management severance contracts, lack of deal activity, re-priced options et al, cashed up, this Co needs to get it in gear.

Interesting that the VLE Chairman, T. Marchant, is also a Director of TransGlobe which actually has significant assets in Egypt.



Agree, any management bonus for 2020 would be unconsionable based on the results achieved.
TransGlobe would be a potential merger fit with VLE, and Marchant maybe the link that brings it together?
Sirenus was mentioned as a potential third party to a transaction.
Any others?
VLE: cash rich with an option on a high risk/high return opportunity.
TransGlobe: good production/cash flow and good prospects for growth.
Merger of the two appears to make sense.



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