Valeura Energy Inc T.VLE

From Conference Call

[energee]

• Restructuring of subsidiary underway to more fully utilize tax losses across all assets. Process commenced pre-Mub closing, takes 6-9 months to finalize sso should be done within the year.
• Production as expected.
• 20 wells in 2023 - mix of new drills/infills and re-works/re-completions. "Get the stats working for the Company." Some results will be better, some will be worse but on average..."
• 7 wells drilled in Q1 2023, capital included in numbers.
• SG spoke of one recompletion done last week of 1500 bopd initial rate.
• Wassana expected on in May.
• Q1 report May 11, 2023 will show conolidated results. 
• Strong cash position.
• Dividend not on the table at present but Board will consider when appropriate.

[SlowAndSteady7]

Thanks for the update energee.   I knew restructuring would be #1 priority.   Too bad on the 6-9 months.    I think it is great that they have maintained bopd in these 9 months.   Bodes well for the future.   Rossukan and Nong Yao will cost a pretty penny, but should be money makers for many years. VLE just has to keep executing, and oil prices stay above $70, and

[goldwatch69]

Slow and steady is what SHE said. :)

[SlowAndSteady7]

Just listened to the call.  Sounds like they are not 100% confident that they can use the Kris Energy tax losses.   They are gonig to try, but not guaranteed.