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Valeura Energy Inc. Announces Completion of Nong Yao FSO Acquisition
Completion of Nong Yao FSO Acquisition CALGARY / ACCESSWIRE / June 12, 2024 / Valeura Energ...
About this update from Valeura Energy Inc.
[{"type":"text","content":"Valeura Energy Inc. Announces Completion of Nong Yao FSO AcquisitionCompletion of Nong Yao FSO Acquisition CALGARY / ACCESSWIRE / June 12, 2024 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) (\"Valeura\" or the \"Company\") is pleased to announce the completion of its acquisition of the Floating Storage and Offloading (\"FSO\") vessel Aurora, on location at its Nong Yao field, offshore Gulf of Thailand. The acquisition was the result of Valeura exercising its purchase option to acquire the vessel, which it had previously leased from the seller, a member of the Omni Offshore Terminals group. The purchase price of US$19 million was funded with the Company's cash resources, and the transaction was completed on June 11, 2024, with final handover occurring offshore, on the vessel itself.Valeura anticipates that owning, as opposed to leasing the FSO, will provide operational flexibility and allow the Company to optimise and reduce operating expenses.For further information, please contact:Valeura Energy Inc. (General Corporate Enquiries) +65 6373 6940Sean Guest, President and CEOYacine Ben-Meriem, [email protected] Energy Inc. (Investor Enquiries) +1 403 975 6752 / +44 7392 940495Robin James Martin, Vice President, Communications and Investor [email protected] (Public Relations, Media Adviser to Valeura) +44 (0) 20 3757 4980Owen Roberts, Billy [email protected] details for theCompany's advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, Schachter Energy Report, and Stifel Nicolaus Europe Limited, are listed on theCompany's website at www.valeuraenergy.com/investor-information/analysts/.About ValeuraValeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.Additional information relating to Valeura is also available on SE...