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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

Post by retiredcfon Jul 21, 2024 11:22am
298 Views
Post# 36141702

Another View

Another ViewFor our resident basher to attack. GLTA

VLE is an oil and gas producer, with operations in Singapore, Thailand and elsewhere. The stock has done well, but valuation remains VERY cheap at 7X earnings (no dividend). It has a very strong balance sheet, good management and rapidly-growing cash flow. It has had to suspend production at a field in Thailand due to a crack in a platfform. Insiders own 6% directly but two entities own a combined 30%. Its operations are higher risk, and offshore drilling is of course very expensive, but it has done well and has some solid qualities for a small cap international oil play. (5iResearch)
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