Valeura Energy Inc. Announces Q2 2026 Operations Update

About this update from Valeura Energy Inc.

CALGARY, AB / ACCESS Newswire / July 9, 2026 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) ("Valeura" or the "Company") provides an operations and financial update for Q2 2026.HighlightsOil production averaged 22.3 mbbls/d(1);Sales of 2.454 million bbls;Price realisations averaged US$105.8/bbl, resulting in revenue of US$259.8 million;Drilled the longest horizontal lateral ever recorded in the Gulf of Thailand and also the first ever complex multi-lateral development well in Thailand, both on the Company's Nong Yao field(2);Secured a formal reduction of the Manora field's decommissioning liability, resulting in a partial release of bank guarantees, and therefore a 31% reduction in restricted cash;Cash position of US$316.5 million at 30 June 2026(3) and a receivable of US$42.7 million in respect of oil sold just prior to end of the quarter. No debt; andBased on preliminary unaudited estimates, anticipated record quarterly free cash flow of approximately US$100 million(4).(1) Working interest share production, before royalties.(2) Block G11/48, 90% operated working interest.(3) Includes restricted cash of US$15.8 million.(4) Adjusted free cash flow is a non-IFRS financial measure that does not have a standardised meaning under IFRS - see "Non-IFRS Financial Measures" in the Company's Management's Discussion and Analysis dated 14 May 2026.Dr. Sean Guest, President and CEO commented:"During Q2 2026, we once again delivered production in line with our plan and executed an ambitious development and appraisal drilling programme on our Nong Yao field which met or exceeded all pre-drill expectations. We are focused always on driving deeper efficiency into our business to enhance cash flow margins, and this quarter our efforts have delivered two new Gulf of Thailand records - the longest horizontal interval ever drilled and the first ever complex multi-lateral development well.In a single quarter, we generated record high revenue of US$259.8 million, driven by quarterly oil sales of 2.454 million bbls and high realised oil prices of US$105.8/bbl. This has strengthened our balance sheet to a 30 June 2026 cash position of US$316.5 million (including US$15.8 million recorded as restricted cash), and no debt. This increase is after having paid the 2025 taxes during the quarter of US$19.2 million, and will be boosted further by the fact that we recorded a receivable of U...

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