RE:From INK Morning Insidersavyinvestor333 wrote: Morning Report: Sunny days for Valeura Energy in Thailand
September 21, 2023 Canada's morning overview of insider filings with a special focus on companies that may interest active and momentum-oriented investors.
Canadian Company Insider Filing Tally* - Yesterday Yesterday, 36 companies had insider buy filings and 21 companies had insider sell filings. INK Market-Wide Sentiment Indicator* INK Market-Wide Sentiment Indicator: 218.7% INK Sentiment Reading: Undervalued INK Venture
Sentiment Reading: Undervalued *Filing Tally represents Toronto Stock Exchange and Venture companies with public-market transaction SEDI filings of directly-owned equity securities. Indicators represent companies with buy-only transactions divided by companies with sell-only transactions of direct ownership equity securities in the public-market by officers and directors (exclusive of officers and directors of subsidiaries or insiders) filed over the last 60 days.
The chart line shows insider sentiment trends by connecting the historic indicator daily readings going back one year. See our market report for commentary on indicator readings. Report Tutorial Video : https://www.inkresearch.com/pdf_tutorial/morning.html English Overview: Sentiment and Stocks After Valeura Energy (VLE) sold its shallow gas producing business in Turkey in 2021, it turned to acquisitions to grow its business.
That strategy led the company to Thailand when in April 2022 it announced the acquisition of working interests (WI) in two shallow water Gulf of Thailand licences: the G10/48 licence (89% operated WI) presenting a reactivation opportunity of the Wassana oil field and the G6/48 licence (43% operated WI) containing the undeveloped Rossukon oil field.
Last December, Valeura subsequently announced the proposed acquisition of operated interests in three offshore licences in the Gulf of Thailand including the Nong Yao, Jasmine/Ban Yen, and Manora oil fields. Collectively they were producing about 21,200 bbls/d of oil, net to the interest being acquired. At the time, Valeura indicated that the package involved total proved plus probable (2P) reserves of approximately 24.1 mmbbls of oil.
The deal closed on March 22nd. The Thai assets made a big splash in Q2 results. Q2 oil production was 22,097 bbls/d versus nil a year earlier. The Jasmine/Ban Yen field was the biggest contributor delivering 9,838 bbls/d, followed closely by Nong Yao with 7,486 bbls/d.
Cash used in operating activities was $84.2 million during the quarter, but cash flow before change in non-cash working capital was just over $57.3 million. Valeura reported working capital of $88.5 million and long-term debt of just over $12.4 million. Non-current lease liabilities were carried at $57.1 million.
Valeura believes it is now the second-largest oil producer in Thailand and has additional drill targets in mind for Jasmine and infill targets to potentially accelerate recovery from Nong Yao and Manora. Meanwhile, it is enjoying a sunny INK Edge outlook as insiders have been buying shares throughout 2023.
From January 3rd to August 29th, Valeura Energy (VLE) President, Director, & CEO William Guest bought a total of 130,500 common shares at an average price of $2.03. Mr. Guest is the third-largest insider equity holder at the company with 0.50% of shares outstanding.
In addition, from September 15th to September 19th, Chief Operating Officer Grzegorz (Greg) Kulawski bought a total of 21,500 common shares at an average price of $2.66.
Earlier, on February 13th, Chairman Timothy Marchant (VET, CART) acquired 20,000 common shares through options exercises at .75. Mr. Marchant has not reported any subsequent selling. Mr. Marchant is the fourth-largest insider equity holder at the company with 0.32% of shares outstanding.
Finally, on February 10th, Director James McFarland (MEG) acquired 140,000 common shares through options exercises at .75 and, the same day, sold 58,500 common shares at $2.54. Mr. McFarland is the second-largest insider equity holder at the company with 0.57% of shares outstanding.
Valeura Energy currently holds a sunny INK Edge outlook on the equally weighted V.I.P. criteria of valuations, insider commitment, and price momentum which places it in the top 10% of all stocks ranked. INK outlook categories are designed to identify groups of stocks that have the potential to out or underperform the market. However, any individual stock could surprise on the up or downside. As such, outlook categories are not meant to be stock-specific recommendations. For background on our INK Edge outlook, please visit our FAQ #3 at inkresearch.com.
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Low grade AOI PUMP to shore up sagging SP haha since they go all the way back to Feb they forgot to mention, two massive material signoficantly over timed, by months closings, two accidents causing shut downs, two massive dillutions weeks after SG "no dilution", departure of several executive suite people, platinum class betterment Singapore holiday at cost $15-25M.
Its hilarious!!