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Valeura confirms no impact to date on personnel or operations from attempted coup in Turkey and provides operational update
Valeura confirms no impact to date on personnel or operations from attempted coup in Turke...
About this update from Valeura Energy Inc.
[{"type":"text","content":"\n\n\n\nValeura confirms no impact to date on personnel or operations from attempted coup in Turkey and provides operational update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nValeura confirms no impact to date on personnel or operations from attempted coup in Turkey and provides operational update\nCanada NewsWire\nCALGARY, July 17, 2016\n\n\n\nCALGARY, July 17, 2016 /CNW/ - Valeura Energy Inc. (\"Valeura\" or the \"Corporation\") (TSX: VLE) is pleased to provide the following update.\n\n\"We would like to confirm that our operations in the Thrace Basin have not been directly affected to date by the attempted coup in Turkey on July 15, 2016, which appears to have been put down by the government\", said Jim McFarland, President and Chief Executive Officer. \"All of our Turkish employees and expatriate contractors in Turkey are safe. We will continue to monitor conditions in the aftermath of this event, including the safety of our personnel and operations, the security situation generally, impact on the Turkish Lira and banking facilities, the functioning of the General Directorate of Petroleum Affairs (\"GDPA\"), impact on our joint venture partners and any changes in offtakes by our natural gas customers.\" \n\n\"We are pleased to advise that good progress is being made to complete the definitive transaction documents under the binding letter agreement with Statoil for the farm-out on the Banarli licences.\"\n\n\"We would also like to report that preliminary Q2 2016 net petroleum and natural gas sales in Turkey averaged 945 barrels of oil equivalent per day (\"boe/d\"), up 19% from Q1 2016, at an estimated average price realization of $9.43 per thousand cubic feet (\"Mcf\"). Final quarterly results are expected to be released after markets close on August 11, 2016.\"\n\nSTATOIL BINDING LETTER AGREEMENT FOR FARM-OUT AT BANARLI\n\nGood progress is being made to complete definitive transaction documents by the July 29, 2016 target date under the binding letter agreement (the \"Letter Agreement\") with Statoil Holding Netherlands B.V. (\"Statoil\"), a wholly-owned affil...