Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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 Chincy1on Nov 12, 2022 1:19pm
166 Views
Post# 35093771

RE:RE:I’d say good news but

RE:RE:I’d say good news but rate is right in the financials firstworld -  

On November 11, 2022, subsidiaries of  the Company signed agreements with a market leader in  the global commodities  industry for a Facility, comprised of (i) an agreement for advances in support of Wassana operations and (ii) a commercial  contract related to any crude oil production arising from Wassana operations (together, the “Facility”).  The Facility provides  for advances in discrete tranches, up to an initial maximum capacity of $30 million, subject to the satisfaction of a number of  conditions precedent. There is provision to expand the maximum capacity, as may be required to support a potential future  acquisition, subject to the satisfaction of certain conditions precedent and the ultimate agreement of the market leader.  The agreement for advances has a term of two years and bears interest at a margin interest rate of 9.5% per annum on the three month Secured Overnight Financing Rate as published by the Federal Reserve Bank of New York. The Company is required to  meet and maintain certain terms, conditions and covenants upon each draw date or at least semiannually from the first draw  date. Financial covenants include a coverage ratio and a liquidity ratio and the Facility includes a material adverse change  clause. The Facility is secured by the shares of the subsidiaries that have entered into the agreement which encompass the  Company’s Gulf of Thailand assets and operations as well as certain parent company guarantees. 
<< Previous
Bullboard Posts
Next >>