Valeura Energy Inc T.VLE

Alternate Symbol(s): VLERF

Energy Oil & Gas E&P

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.

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Valeura Energy Inc > Not so nice...

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Comment by firstworldon Jan 31, 2023 9:49pm

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Post# 35258494

RE:RE:Not so nice...

Yes very shallow water its low cost and a dream until there's a storm then its a nightmare of 20' chop. I will put a 2.30 bid 50K shares for tomorrow open just for fun.

bfw wrote:
"Drilling an offshore (even though shallow waters) well for 3.5m ? Isn't it more like 30m ?

Anyway, no matter how this plays out, they don't have enough money. I expect a placement before any production."

There you go.

I guess they'll drill 1/3 of a well with the cash raised ;)

bfw

Suppe11 wrote: Some people here need a reality check.

1) There's no bottom in, nor does the placement price mean anything. The underwriter is not Goldman Sachs. Of course they shorted the shares before and will get their fill with the offering.

2) Deal close ? Yeah, of course...the instant 100m in the bank...but a few days before do an offering for meager $10m ? In my world this doesn't add up or is totally stupid cashflow management.

And for the sniffer dogs here...didn't I say last year, they'll need money and I smell a placement ? I'm too lazy, to look it up. Of course, I took a beating of some die hard clowns, then.