RE:Valeura Energy Inc. Announces Q1 2023 ResultsAs expected; no major surprises in this financial report but this was practically only for 9 days under VLE operations. No surprise with rather high operating costs of $21/bbl but even that is ok considering these are mature & offshore fields….plus with new production (if successful) this will come down.
All those proposed & ongoing infill drillings are also to be expected in aging fields; so nothing new here. Not sure how $US 49.9 million in debt came about but with current cash flow that should not be a major issue.
Potentially impressive is this…“positive comprehensive income for the three months ended March 31, 2023 of US$196.7 million or net income attributable to shareholders of Valeura of US$2.17 per share on common shares outstanding (equivalent to approximately C$2.93/share)”.
Whether before or after tax or operating expenses this number suggest very low P/E ratio at current share price….so much more room to go up.
G37