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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

Post by Dell1on Nov 11, 2021 2:24am
466 Views
Post# 34113520

VLE hibernation ...

VLE hibernation ...I can see a few people are posting here comments that make not much sense to me. Logic has to be there or facts. Ideas and rumors only here can be seen. What exactly is happening in the company nobody knows except management, and no one in their right mind will be talking about company future since it is a public company. We have seen VLE management doing a great work in the past. Just before COVID they have had bad luck and their main cash flow was cut to support further exploration. As a result, they had not much choice just to divest some assets while most companies were in dire straits. We can’t blame them for doing that! VLE has cash to take that chance to drill on their own if they can’t find a JV partner. This year when we have seen NG price hitting record prices in Europe and in N. America, we have expected VLE to gain from that. Most producers have multiplied their evaluation 5 or 10 times since COVID lows, but VLE didn’t have that much luck. VLE is just an exploration company that needs to prove that it has economical gas and steady production flow rate. During COVID they were in hibernation that’s all I can say. Company evaluation hasn’t changed and just sitting on cash doesn’t make investors happy, wages are paid, and cash is being depleted. VLE definitely has a great opportunity to find a JV partner to continue their exploration. Even if they are out of luck, they might take a risk to drill that well by themselves. It would be great to see an updates from Q3 report and maybe their investors call might shine some light on their future plan. As of now VLE management shows not much activity that holds their stock price almost dormant.

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