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

Hướng dẫn cài đặt BlueStacks trên PC

Vậy bạn hãy sử dụng phần mềm giả lập Android BlueStacks App Player hoàn toàn miễn phí, để thoải mái trải nghiệm các ứng dụng trên kho ứng dụng Google Play bất cứ khi nào bạn muốn.

Hướng dẫn cách tải và cài đặt iOS 12 nhanh hơn server Apple

Đối với trang web ipsw.me đã quá quen thuộc với các bạn để tải firmware của iOS rồi thì mình sẽ chỉ giới thiệu sơ qua. Đầu tiên, các bạn chọn iPhone > Phiên bản iPhone đang sử dụng > iOS 12 > Download.

Hướng dẫn xử lý và khắc phục các vấn đề về tường lửa trong Windows 10

Bạn đang gặp sự cố với tường lửa đã được cài sẵn trong Windows 10? Vậy thì những hướng dẫn sau đây sẽ giúp bạn nhanh chóng khắc phục những vấn đề đó nhé.

Cách "hóa trang" cho điện thoại nhân dịp Halloween

Ngày hội Halloween đã đến sát chân bạn rồi đấy, ngoài việc trang trí, mua sắm cho mình những bộ trang phục phù hợp thì tại sao lại quên đi một...

Xây dựng chiến dịch Email Marketing dễ dàng với bộ đôi Amazon SES và SendBlaster 3

Hiện nay có rất nhiều hệ thống phần mềm tích hợp với máy chủ Email Amazon SES khá tuyệt vời trong đó không thể bỏ qua phần mềm EMail Marketing SendBlaster. Với phần mềm SendBlaster chuyên dùng cho những dự án EMail

ĐÁNH GIÁ NHANH

Đánh giá ASUS VivoBook Flip TP301UA: Cấu hình tốt, pin khoẻ, có USB Type C

ASUS VivoBook Flip TP301UA là chiếc laptop lai với màn hình xoay gập tiện dụng cùng cấu hình tốt và thời lượng pin khoẻ.

Đánh giá Lenovo Yoga Book: Chiếc tablet của tương lai.

Lenovo Yoga Book là một trong những chiếc tablet có 1 không 2 trên thị trường nhờ kiểu dáng và tính năng đặc biệt. Hãy cùng FPTShop đánh giá chiếc tablet này.

Samsung Galaxy Note20 Series – chiếc smartphone đem tới nhiều tiện ích nhất trong năm 2020

Hệ thống chức năng phục vụ tốt cả nhu cầu học tập, chơi game giúp cho trải nghiệm Galaxy Note 20 series đem lại thực sự ấn tượng và tương xứng với giá trị cao cấp của sản phẩm.