Valeura Energy Inc. ("Valeura" or "the Company") is a Canada-based public company engaged in the exploration, development and production of petroleum and natural gas in Turkey and Western Canada. The Company’s shares are traded on the Toronto Stock Exchange ("TSX") in Canada under the trading symbol VLE.
Since Valeura was established in 2010, the Company has executed six transactions and been awarded two exploration licences in Turkey. The Company currently holds interests in 20 production leases and exploration licences in Turkey totaling 1.8 MM acres (gross) or 0.71 MM acres (net).
In Turkey, Valeura is targeting a potentially significant tight gas resource play in the Thrace Basin, and conventional and unconventional oil targets in the Anatolia Basin. By applying 3D seismic, modern fracture stimulation technology and deep drilling, Valeura is aiming at achieving commercial scale operations. This is complemented by an established shallow (conventional) gas production and marketing business in the Thrace Basin.
In the Thrace Basin, following an 18 month proof-of-concept frac and deep drilling program, Valeura is moving forward in 2013 with a phased delineation and development program of the tight gas play.
In the Anatolia Basin, Valeura recently completed the Alibey-1 horizontal sidetrack of the original Alibey-1 vertical well which flowed heavy oil from the Mardin Group. Valeura also has an interest in Licence 4985 containing the potential high impact Bostanci exploration prospect (oil) which underlies a large undrilled surface anticline at the juncture of Turkey, Iraq and Syria.
Valeura’s petroleum and natural gas sales in 2012 averaged 1,264 boe/d, of which 1,177 boe/d (7.1 MMcf/d) was attributable to natural gas production from the Thrace Basin.