RE:Malcolm Shaw (Buyside) discusses VLE, TNZ and TAG Shaw calls Valeura Energy Inc. (VLE:TSX; PNWRF:OTCMKTS) the poster child for what could happen to Tenaz. Valeura is a Canadian oil and gas company focusing on assets with substantial near-term cash flow and mid-term reinvestment opportunities while pursuing a longer-term deep, tight gas play in Turkey.
Last year, Valeura was trading at 70% of its cash value. Shaw also pointed out that "the company wasn’t burning much cash at the time," and then, late in the year, it announced its >20,000 bopd acquisition in Thailand.
"Since it announced that deal, the stock has been up by CA$2.40 a share," Shaw said.