# Valeura Energy Gulf of Thailand Acquisition complete

- Link: https://www.directorstalkinterviews.com/valeura-energy-gulf-of-thailand-acquisition-complete/4121111446
- Published: 2023-03-22T07:04:25+00:00
- Author: Ethan Davis

**[Valeura Energy Inc](https://www.directorstalkinterviews.com/company/valeura-energy-inc/vle.to).**(
[TSX:VLE](https://www.directorstalkinterviews.com/company/valeura-energy-inc/vle.to)),
the upstream oil and gas company with assets in the offshore Gulf of Thailand and
the Thrace Basin of Turkey, has announced completion of its transformative Gulf 
of Thailand acquisition, as announced on December 6, 2022.

Through its wholly-owned subsidiary, Valeura Energy Asia Pte. Ltd, Valeura is now
the holder of a 100% operated interest in Licence B5/27 containing the Jasmine and
Ban Yen oil fields, a 90% operated working interest in Licence G11/48 containing
the Nong Yao oil field, and a 70% operated working interest in Licence G1/48 containing
the Manora oil field.  All net economic benefits accumulated from September 1, 2022
are included within the acquired entity.

> **Sean Guest, President and CEO commented:**
> _“I am delighted to have closed this transaction and grateful to the many individuals
> involved throughout the acquisition process culminating in this milestone.  I 
> would also like to welcome our new staff to the Valeura organisation, and look
> forward to charging ahead together as the largest independent oil producer in 
> Thailand. _
> _With our expanded asset base, we can now begin to realise synergies across our
> operations, unlocking even more value for our stakeholders, while remaining mindful
> of our primary focus on safe, reliable operations.  At the same time, our growth
> ambitions remain at the core of our forward strategy.  We intend to pursue the
> organic growth opportunities within our portfolio, as well as further inorganic
> opportunities in Southeast Asia.”_

Valeura has commissioned Netherland, Sewell & Associates, Inc. to conduct a reserves
and contingent resources evaluation for all of its Thailand assets effective December
31, 2022, and will publish results in due course.

**Full Year 2022 Results**

Valeura Energy intends to announce its consolidated financial and operating results
for Q4 2022 and for the year ended December 31, 2022 before markets open on March
30, 2023. 

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