Near Term Production I mentioned previously that POE, currently producing about 1400 bpd onshore Thailand plans to sell that producing asset before exit Q2/22.
It claims to have a buyer.
It is a highly profitable asset which has enabled POE to return nearly $100 million ROC to shareholders over the past few years.
POE is currently conducting workover of its wells, so production will likely move upwards to 2000 bpd.
POE will then begin its cycle once again, perhaps in Thailand.
This final asset is listed at $24 million CAD value on the balance sheet .
This producing asset would be a nice interim source of cash flows for Valeura, enabling perhaps an early start to the Thrace Deeps.
I have owned a core position in POE for years.
Its my guess/ posit that Valeura might be the buyer of those assets.
As there are other attractive assets available in offshore Thailand...and Valeura has explicitly stated that they intend to make further acquisitions in the offshore Thailand area....its just another guess of mine that these additional Thailand asset acquisitions might be JV with POE.
In my view, once the import of the full game plan here becomes known to investors ,we are going on a major ride up the charts.
Whatever criticisms you might have about management, they do know how to move the share price upwards.
Research Reports would be a nice entry into that milieu.