Valeura Energy Inc - Canada-based company engaged in the exploration, development and production of petroleum and natural gas in Turkey - Completes acquisition of KrisEnergy International Thailand Holdings Ltd. As a result, Valeura is now the holder of a 89% operated working interest in licence G10/48, containing the Wassana oil field, and a 43% operated working interest in the planned Rossukon oil field development in licence G6/48.
Chief Executive & President Sean Guest says: "Our highest priority is to re-activate production operations at the Wassana field. Work is already underway to complete the commercial arrangements and MOPU re-certification that will enable the resumption of oil production at a rate of approximately 3,000 barrels per day, net to the acquired interest, in Q4 2022.
"At the same time, we are actively engaged in discussions with both partners and regulators regarding the Rossukon oil field development, and will share additional details when we take a final investment decision, anticipated later this year."
Current stock price: 28.00 pence
12-month change: down 99%
By Heather Rydings; heatherrydings@alliancenews.com
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