Corporate Profile

Valeura Energy Inc. (“Valeura” or the “Company”) is a Canada-based listed company focussed on exploration, development and production of oil and natural gas in the greater Mediterranean region.

Since Valeura was established in 2010, the Company has executed a number of commercial transactions, resulting in a significant land position in the Thrace basin of Turkey, just west of Istanbul.  Valeura’s acreage includes 0.337 million net acres of deep rights.

Valeura’s deep, tight gas play is estimated to hold 20.0 Tcfe of natural gas resource, based on a prospective resource report per Degolyer and MacNaughton as of December 31, 2018.

As of year-end 2019, the Company’s total Proved Plus Probable Reserves were independently evaluated to be 7,936 Mboe, and in 2019, the Company produced an average of 660 boe/d.  In October 2020, the Company reached an agreement to sell its conventional gas producing business for headline consideration of $15.5 million, with an effective date of July 1, 2020.  The transaction is expected to close in Q1 2021.

Valeura is pursuing a clear three-pronged strategy to add value for shareholders:

  1. Conventional gas production business – maximise the value of this asset for shareholders by monetising the asset,
  2. Inorganic growth – grow production and cash flow in the near/mid-term through mergers and acquisitions, and
  3. Deep, tight gas play – continue appraisal of the play to demonstrate commercial flow and deliver value in the mid/long-term.

 

Valeura’s shares are traded on the Toronto Stock Exchange (“TSX”) in Canada under the trading symbol VLE and on the London Stock Exchange (“LSE”) in the UK under the trading symbol VLU.