Completion of Nong Yao FSO Acquisition

SINGAPORE, June 12, 2024 (GLOBE NEWSWIRE) -- Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) ('Valeura' or the 'Company') is pleased to announce the completion of its acquisition of the Floating Storage and Offloading ('FSO') vessel Aurora, on location at its Nong Yao field, offshore Gulf of Thailand.

The acquisition was the result of Valeura exercising its purchase option to acquire the vessel, which it had previously leased from the seller, a member of the Omni Offshore Terminals group. The purchase price of US$19 million was funded with the Company's cash resources, and the transaction was completed on June 11, 2024, with final handover occurring offshore, on the vessel itself.

Valeura anticipates that owning, as opposed to leasing the FSO, will provide operational flexibility and allow the Company to optimise and reduce operating expenses.

For further information, please contact:

  
Valeura Energy Inc. (General Corporate Enquiries)+65 6373 6940
Sean Guest, President and CEO 
Yacine Ben-Meriem, CFO 
Contact@valeuraenergy.com 


Valeura Energy Inc. (Investor Enquiries)+1 403 975 6752 / +44 7392 940495
Robin James Martin, Vice President, Communications and Investor Relations 
IR@valeuraenergy.com 


CAMARCO (Public Relations, Media Adviser to Valeura)+44 (0) 20 3757 4980
Owen Roberts, Billy Clegg 
Valeura@camarco.co.uk 


Contact details for the Company's advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, Schachter Energy Report, and Stifel Nicolaus Europe Limited, are listed on the Company's website at www.valeuraenergy.com/investor-information/analysts/.

About Valeura

Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

Advisory and Caution Regarding Forward-Looking Information

Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as 'anticipate', 'believe', 'expect', 'plan', 'intend', 'estimate', 'propose', 'project', 'target' or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this news release includes, but is not limited to: the expectation that owning, as opposed to leasing the FSO will provide operational flexibility and allow the Company to optimise and reduce operating expenses.

Forward-looking information is based on management's current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; future drilling activity on the required/expected timelines; the prospectivity of the Company's lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; royalty rates and taxes; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company's reserves and contingent resources; ability to attract a partner to participate in its tight gas exploration/appraisal play in Türkiye; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; future debt levels; and the Company's continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company's work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners' plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company's ability to manage growth; the Company's ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management's discussion and analysis of the Company for a detailed discussion of the risk factors.

The forward-looking information contained in this new release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this new release is expressly qualified by this cautionary statement.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This announcement is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.


Completion of Nong Yao FSO Acquisition

THỦ THUẬT HAY

4 dấu hiệu chứng tỏ bạn đang nói quá nhiều tại nơi làm việc

Lan man, huyên thuyên, nói nhiều, ba hoa, huênh hoang. Những người đang nói quá nhiều tại văn phòng không chỉ tự 'giành lấy' cho mình những biệt danh chẳng-mấy-ai-muốn mà còn gây phiền phức cho những người xung quanh.

Hưỡng dẫn gỡ bỏ Tìm kiếm mặc định không mong muốn trên Google Chrome

Bạn không am hiểu về máy tính và bạn khá khó chịu khi bị cài phần mềm không mong muốn như Laban, Govome, Trovi ...vào trình duyệt tìm kiếm trên Google Chrome. Bài viết sau đây sẽ hưỡng dẫn bạn đưa trình duyệt tìm kiếm

Làm sao để sạc pin nhanh cho Samsung?Xem hướng dẫn trong bài viết nhé

Sạc nhanh trên Samsung Galaxy là một tính năng không thể thiếu. Và mình sẽ giải đáp thắc mắc làm sao để sạc pin nhanh cho Samsung, giúp rút ngắn thời gian chờ đợi...

Hướng dẫn cách xem lượng điện tiêu thụ trong tháng bằng điện thoại

Có nhiều cách xem lượng điện tiêu thụ trong tháng của gia đình. Tuy nhiên, không phải ai cũng biết cách xem. Trong bài viết ngày Viettel Store sẽ mách bạn 4 cách kiểm tra lượng điện tiêu thụ và số tiền điện cần thanh

ĐÁNH GIÁ NHANH

Trên tay Seagate Backup Plus Hub giá 6.5 triệu cho bản 6TB

Về kích cỡ thì Backup Plus Hub không khác biệt so với các ổ cứng 3.5” gắn ngoài thông thường, có chẳng là nó sẽ hơi dài hơn một chút ở mặt trước, nhưng vẫn rất gọn gàng và không đáng kể.

Đánh giá Samsung Gear 360: Thiết kế đẹp, ảnh 360 độ ấn tượng

Là thiết bị về nước muộn nhất trong hệ sinh thái di động được Samsung giới thiệu tại MWC 2016, máy ảnh Gear 360 nhận được sự quan tâm đặc biệt từ giới công nghệ....

Trên tay Sony Xperia XA2 Ultra vừa ra mắt tại CES 2018

Sony đã công bố Xperia XA2 và Xperia XA2 Ultra tại triển lãm CES ở Las Vegas, và bên cạnh đó còn có một smartphone khiêm tốn hơn là Xperia L2.