From SEDAR
From page 19 of AIF on SEDAR.com
"A significant portion of the Company’s potential upside value is in the natural gas prospective resources associated with the Deep Gas Play. The Deep Gas Play is still in the early phase of appraisal with large uncertainties and risk. Whilst there are now 11 wells around the Thrace Basin that all are interpreted to have encountered highpressure gas at depth, the current well density in the play is still very low. There are uncertainties laterally across Valeura’s land interests, and vertically in the target interval, as to the flow and fluid characteristics of the reservoir. While the ability to recover gas to surface from the Deep Gas Play has been demonstrated, commerciality of the Deep Gas Play has not been confirmed."
"Valeura intends to continue to pursue farm out of a portion of its interest in the Deep Gas Play and is working with Stellar to secure a partner with technical and commercial expertise suited to a tight gas appraisal play of this magnitude. With success, the Deep Gas Play could provide a meaningful boost to natural gas supply security in Turkey and the region. The process is ongoing, but as of the date hereof, there is no agreement with a new party to farmin to the Deep Gas Play."
Page 26 of AIF
"As of the date hereof, the directors and executive officers of Valeura, as a group, beneficially own, directly or indirectly, 1,701,124 Common Shares representing approximately 1.96% of the issued and outstanding Common Shares.
As of the date hereof, the directors and executive officers of Valeura, as a group, beneficially own, directly or indirectly 5,385,000 Options. If all such Options were exercised, the directors and executive officers of Valeura, as a group, would hold approximately 7.60% of the then issued and outstanding Common Shares (on a fully diluted basis)."
FORM 51101F1 STATEMENT OF RESERVES DATA AND OTHER OIL AND NATURAL GAS INFORMATION
(Capitalised terms not specifically defined in this Appendix A1 have the meaning ascribed to them in the Annual Information Form to which this Appendix A1 is attached)
On May 26, 2021 Valeura announced that it had closed the sale of its producing shallow conventional gas business to TBNG Limited for cash consideration of $15.5 million, plus royalty payments of up to an additional $2.5 million. The Disposition was structured as a sale of the shares of TBNG and CRBV.
As at December 31, 2021, the Company has no oil and/or natural gas reserves.
The Company did not engage an independent evaluator to review its reserves or associated future net revenues for the period ended December 31, 2021.
From MD&A
G&A was $5.116M (USD for 2021)
Waiting for the Management Info Circular which (whould come out in April) to see what management bonus was paid for 2021 activity. They already received a bonus (paid in Q1 2021) for the shallow sale done in 2020 which closed in 2021.