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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 Suppe11on Apr 01, 2024 7:55pm
149 Views
Post# 35963975

RE:Listened to Webcast on Sunday

RE:Listened to Webcast on Sunday You confused the revenue numbers with the fcf numbers....totally off. Pricing most probably won't be above Brent, but with a $2-3 penalty to Brent. Only Nong Yao has light sweet crude, the rest is medium sweet crude or a mix. If you compare it with the average Brent pricing (like VLE does), it depends on the timing of the cargos = a illusion of a premium, because the timing was nice.

Without a second rig it is impossible to reach 25k bpd (personally I think 23k is max, but the decline rates of the Nong Yao expansion are a wildcard. If the decline rate there is below the average...it could change the picture).

After Q2, you'll be surprised, that there won't be enough cash for a) an acquisition and b) for shareholder rewards. It will be the kitchen sink Q for the year. 
Expanding Wassana will cost (like Nong Yao) 80-100m and will take a year. 

Imho, they can do around $120m fcf p.a....before growth capex.
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