Valeura Energy Inc T.VLE

It is all about the taxes credits.

[Doubleneed]

When I saw the reserve report, I was deeply disapointed, I was all in in VLE. The report indicated the NPV10 of all developed assets incl Wassana was a minus $200M. Wow, no wonder Valaura had it for free. Right there I decided to sell my shares, red flag, Sold all at $3.30. I now understand why they had such a good deal. The value is in the 2P, but you have to invest and Mumbala wanted to invest in gas.

 Total 2P is $261M if they develop it well. End 2022, they had $20m in cash and receivable, with $11M debts. They also had a 6M deposit for the acquisition. They got $7.4M with the secondary,Increase their debts by 40M, had to put $18M for a credit letter and finally they got  paid $104M to buy the asset.Prior to expanses, Cash and rec would be $160M with $51M in debts before expanses, so $100M.

So fully valued at 2P would be $4.60Cdn, not the double I was contempling. However, we finally got some details on the tax credit that could be $257M, take out the credits already used for the mumbala assets in the reserve report of ard $25M, and you get an other $C3 cdn per share.

[goldwatch69]

It's US$275 million in tax losses! Get your facts straight and learn how to spell!  

[Doubleneed]

Yes that is the corect probable amount as disclosed at the 28Minute of the call.Sory for the spelling.

[firstworld]

Regardless its amateur hour... they should have done the agreement "VLE SPV and assigns" done all the restructuring in tha last 14 months and assigned it all to the newco structure on closing....now they will waste another 9-12 mths. It sounds like they will get oil from the sites indefinately especially based on historical renewal rates....$200M  buys a lot of drilling and

[stiffupperlip]

Good post DoubleN Can anyone name a successful story coming out of Thailand? NOT.  Kris is a pretty big regional player. Believe me, they knew that the future development of this asset wasn't worth the effort. A small amount of reserves you could have easily purchased near Edson. And this is offshore which is much, much more cost to develop and maintain. And debt to service - wow. Stiff

[firstworld]

Not many ladyboys in S-hole Edson. Maybe proximity to the most expensive pipleine in the world at $40M / km is a benefit though LMFAO. No one will invest a dime in canadian O&G aside from snow washers, locals and gov't funds -  note the flight of international players in last 8 years that drove the industry since inception. Everyone wants off shore simply because rules are

[stiffupperlip]

Stiff agrees with your canadian assessment - we have a real problem. The boom is on and no new investors. Companies just recycling properties. Where I disagree First (and your posts are excellent by the way) with what is available in the international markets. Stiff is plugged into this area and he knows there are big asset opportunities out there. Why? Because all the 'big boys' are going

[SMlachake]

Wells out there are costing 6M cheaper that you would complete a substantial well ahywhere else, but you obviously want it to sound much more than that.  From your post below, you seem to have a problem with Sean. Should you have bought then, you would be sitting on 100%+..

[SMlachake]

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