# Valeura Energy secures Thai Cabinet approval for Gulf of Thailand farm-in

- Link: https://www.directorstalkinterviews.com/valeura-energy-secures-thai-cabinet-approval-for-gulf-of-thailand-farm-in/4121262646
- Published: 2026-09-15T12:22:00+01:00
- Author: Amilia Stone

**[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),
OTCQX:VLERF) has announced that the Cabinet of the Government of Thailand has granted
executive approval for the transfer of interest from PTTEP Energy Development Company
Limited, a subsidiary of PTT Exploration and Production Public Company Limited to
Valeura, in connection with its strategic farm-in agreement (the “Farm-in”) to blocks
G1/65 and G3/65 in the offshore Gulf of Thailand.

Under the terms of the Farm-in, Valeura is to earn a 40% undivided working interest
in the Blocks by paying to PTTEP 40% of the back costs incurred, plus the cost of
a 163 km^(2) 3D seismic acquisition over the Nong Yao Northeast focus area (carried
by Valeura).  Total costs to be paid by Valeura were estimated as US$25.6 at 31 
August 2026.  This includes a deposit amount of US$1.85 million already paid, and
includes US$2.8 million in respect of the aforementioned carried 3D seismic acquisition
in addition to its share of back costs for 1,184 km^(2) of 3D seismic acquired over
other focus areas on the Blocks, four exploration wells drilled in 2025, geotechnical
studies, licence award fees, and development planning work. 

As contemplated in the Farm-in, Valeura and PTTEP are continuing to share information
with each other to support planning the next phases of development and exploration
on the Blocks.  The Company intends to provide further details in due course.

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