VALEURA ENERGY INC - VLERF STOCK NEWS

Valeura Energy Inc. announced the results of its annual and special meeting of shareholders, where shareholders approved the appointment of auditors, election of directors, and a shareholder rights plan. Dr. W. Sean Guest, Dr. Timothy R. Marchant, Russell J. Hiscock, Timothy N. Chapman, Lina Lee, and Anna Green were elected as directors.

Valeura Energy Inc. reported strong Q1 2024 results with an oil production increase of 14%, generating revenue of US$149.4 million. Company's cash and net cash balance reached US$193.7 million with no debt, adjusted EBITDAX of US$89.0 million, and adjusted cash flow from operations of US$47.8 million. Year to date achievements include successful drilling and oil discoveries. Operations progress on plan with ongoing efficiency improvements and growth prospects.

Valeura Energy Inc. announces three oil discoveries in the Gulf of Thailand, showcasing successful exploration drilling campaigns resulting in new oil pay across various intervals. The discoveries in the Nong Yao D area and the north-east portion of the Wassana concession indicate potential for future development projects and increased production rates. The company plans to continue infill drilling and development work to support cash flow generation amidst rising oil prices. The total recoverable volumes from the new discoveries are expected to exceed management's requirements for additional future development, extending the life of the concession beyond 2032.

Valeura Energy Inc. provides an update on Q1 2024 operations and financial performance. The company saw a 14% increase in oil production, with an average of 21.9 mbbls/d and a quarter exit rate of approximately 23.0 mbbls/d. Revenue stood at US$149.4 million, with a cash balance of US$193.6 million and no debt. Price realizations were US$84.6/bbl, a US$1.5/bbl premium over Brent. The company reaffirmed its full-year 2024 production guidance of 21.5 - 24.5 mbbls/d.

Valeura Energy Inc. provides a positive Q1 2024 update with strong operational and financial performance. Oil production increased by 14% to 21.9 mbbls/d, with a quarter exit rate of 23.0 mbbls/d. Price realizations at US$84.6/bbl, a US$1.5/bbl premium over Brent. Revenue of US$149.4 million, cash at bank of US$193.6 million with no debt. The company reiterates full-year production guidance of 21.5 - 24.5 mbbls/d and confirms all 2024 outlook expectations.

Valeura Energy Inc. (VLERF) announces the date for reporting its fourth-quarter 2023 financial and operating results, audited by Deloitte & Touche LLP. The company will release its results on March 26, 2024, alongside other annual filings. A webcast with a Q&A session will follow the release.

Valeura Energy Inc. announces significant growth in reserves and resources for its Thailand assets in the year-end 2023 evaluation. The company reports increases in all fields, with 2P net present value reaching US$616 million before tax. The 2P net asset value after tax amounts to US$579 million, translating to C$7.56 per share. The reserves replacement ratio stands at 219%, reflecting substantial value creation and field life extension. Contingent resources have also increased more than three-fold, showcasing growth potential.

Valeura Energy Inc. announces the mobilization of a Mobile Offshore Production Unit (MOPU) to the Nong Yao field and provides an update on the development drilling at the Wassana field. The MOPU TSeven Shirley is being mobilized to the Nong Yao field for the development of the Nong Yao C accumulation, with first oil expected in late Q2 2024. Valeura is also purchasing the floating storage and offloading vessel (FSO) Aurora for greater operational flexibility. The Wassana field development drilling program is being expanded to five horizontal wells, resulting in an increase in field output to more than 4,000 bbls/d.

Valeura Energy Inc. releases an operational update and 2024 guidance outlook. The company reported an average oil production of 20,420 bbls/d in 2023, with net cash of US$150.9 million at the end of the year. It anticipates 2024 oil production to be between 21,500 - 24,500 bbls/d, with a Capex guidance of US$135 - 155 million and Opex guidance of US$205 - $235 million. The company plans to maintain a strong balance sheet to support its growth-oriented strategy.