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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 BERationaleon Nov 15, 2023 9:16pm
261 Views
Post# 35738232

RE:RE:RE:RE:RE:RE:RE:RE:A fine quarter , a little timing difference in cash flow

RE:RE:RE:RE:RE:RE:RE:RE:A fine quarter , a little timing difference in cash flowI will give you the benefit that they produced 124k barrels more than they sold / held in inventory so call it FCF understated by C$15mm in Q3. Still FCF of ~C$10mm when oil averaged US$88/bbl in the quarter is pretty dismall for a 20k boe/d producer ... and where the stock currently trades, equates to only an 11% FCF yield vs lower risk Canadian producers that are double that. The smart money is latching on to the fundamentals and until management can show opex of sub $30/bbl again it will be back to being a show me story. Make no mistake Q4 results will look stellar with the sale of excess inventory (and retail will get excited again like Q2/23) but its easy to stay on the sidelines until mid March (or until the stock has a 15%+ FCF yield). Just being real. DYODD GLTA
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