Canada

Valeura and its predecessor companies have operated oil and gas fields in Canada for approximately 10 years. Valeura operates nine oil and gas properties in Alberta, which produced 65 BOE/d (net) in the third quarter of 2012. The main producing areas are shown in the map below.

Grand Forks / Hays

Valeura has an interest in ten wells in the area, of which half are operated, with an average working interest of 69.6%. In 2012, net production from the area averaged 73.1 Mcf/d of natural gas and 30.4 bbl/d of oil or a total of approximately 43 boe/d.

Other Properties

Valeura holds working interests ranging from 10.0% to 84.4% in various other properties in Alberta. In 2012, net production from these other properties averaged 70.1 Mcf/d of natural gas and 11.2 bbl/d of liquids or a total of approximately 23 boe/d.