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Valeura Energy

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Valeura Energy Inc.
Bow Valley Square 1
Suite 1200, 202 - 6th Avenue SW
Calgary, Alberta
T2P 2R9

Tel: +1.403.237.7102

Description

Valeura Energy Inc. is a Canada-based public company engaged in the exploration, development and production of petroleum and natural gas in Turkey.

Since Valeura was established in 2010, the Company has executed a number of transactions and currently holds interests in 20 production leases and exploration licences in the Thrace Basin of Turkey totalling 0.46 MM acres (gross) or on a net basis 0.37 MM acres of shallow rights and 0.26 MM net acres of deep rights.

Valeura is appraising an unconventional basin-centered gas accumulation (“BCGA”) play in the Thrace Basin on its deep rights, which has been evaluated by DeGolyer and MacNaughton, an independent reserves auditor, to hold, effective December 31, 2018, 10.1 Tcfe of estimated working interest unrisked mean prospective resources of natural gas, which includes 236 MMbbl of condensate. By applying 3D seismic, modern reservoir stimulation technology and horizontal and deeper vertical well drilling, Valeura is aiming to achieve commercial scale operations from this tight gas resource.

In addition, the Company owns an extensive network of gas gathering and sales infrastructure to support direct marketing of natural gas to end users, and in Q2 2019, produced an average of 4.2 MMcf/d of natural gas from conventional gas accumulations in its shallower rights.

History

Valeura Energy Inc.’s origins stem from two predecessor companies, PanWestern Energy Inc. and Northern Hunter Energy Inc., which were combined by a Plan of Arrangement and renamed Valeura Energy Inc. in September 2010. The founders of Valeura had previously build and sold Verenex Energy Inc., which was active in Libya, and subsequently capitalised Northern Hunter as the platform for a new international company. The arrangement with PanWestern provided a TSXV listing, and in June 2011 the Company graduated to the TSX.

The Company immediately set out to become a global energy company focused on exceptional value creation, with a primary geographic concentration on Turkey, plus minor non-core interests in Canada which were inherited from the combination of PanWestern and Northern Hunter.

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