Take five oil change prices3/17/2024 Given the pending expansion of the field and potential future developments, Valeura anticipates that owning, as opposed to leasing the FSO will provide operational flexibility and allow the Company to optimise operating expenses. Purchase price for the vessel is US$19 million, to be funded with the Company’s cash resources upon completion of the transaction, anticipated in June 2024. Separately, Valeura has exercised its purchase option to acquire the Nong Yao field’s FSO Aurora, which it had previously leased from the seller, a member of the Omni Offshore Terminals group. Valeura has agreed to charter the MOPU for an initial term of five years, with provisions for extension thereafter. The MOPU includes a 12 slot well bay, total design fluid capacity of 20,000 bbls/d and water injection design capacity of 10,000 bbl/d. The TSeven Shirley is a new-build MOPU, based on a jack-up drilling rig hull, and customised to suit the requirements of the Nong Yao C accumulation. First production from the Nong Yao C extension is expected in late Q2 2024, and when fully on stream in the months thereafter, the Company is targeting peak production rates from the greater Nong Yao field totalling approximately 11,000 bbls/d (90% working interest share). Following hook-up and commissioning work, Valeura intends to conduct an initial drilling programme of up to nine development wells (six producers and three water injectors). Upon arrival, the MOPU will be connected to the pipeline that has been already installed from the existing Nong Yao field infrastructure, and will serve as the wellhead production platform for the Company’s Nong Yao C field development. The MOPU TSeven Shirley has departed its shipyard at Qing Dao, China and is now enroute to Valeura’s Nong Yao field (90% working interest) in the Gulf of Thailand. Wassana field (100% working interest) development drilling programme being expanded to five horizontal wells, first two wells have resulted in field output increasing to more than 4,000 bbls/d.Valeura purchasing the Nong Yao field’s floating storage and offloading vessel (“FSO”) Aurora for US$19 million, providing greater operational flexibility and cost optimisation and.MOPU TSeven Shirley being mobilised to the Nong Yao field (90% working interest), in preparation for development of the Nong Yao C accumulation, first oil expected late Q2 2024.(TSX:VLE, OTCQX:VLERF) (“Valeura” or the “Company”), the upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Turkey, is pleased to announce the mobilisation of a Mobile Offshore Production Unit (“MOPU”), destined for its Nong Yao field, and to provide an update on development drilling at the Wassana field, offshore Thailand. Abilene Aledo Alice Allen Amarillo Andrews Arlington Athens Austin Baytown Beaumont Bedford Bellaire Bellmead Belton Big Spring Boerne Brenham Bridge City Brownsville Brownwood Bryan Burleson Canton Canyon Canyon Lake Carrollton Cedar Hill Channelview Cleburne College Station Conroe Converse Copperas Cove Corpus Chirsti Corpus Christi Corsicana Crosby Cross Roads Cypress Dallas Deer Park Denton Desoto Dickinson Duncanville Early Edinburg El Paso Farmers Branch Fort Worth Frisco Garland Georgetown Granbury Grand Prairie Greenville Gun Barrel City Harlingen Helotes Hereford Houston Hudson Oaks Humble Huntsville Hurst Hutto Irving Jacksonville Katy Keller Kennedale Kilgore Killeen La Porte Lake Worth Laredo League City Lewisville Liberty Live Oak Livingston Longview Lubbock Lufkin Lumberton Magnolia Marshall McAllen McKinney Mckinney Mesquite Midland Mineola Mineral Wells Missouri City Mt Pleasant Mt.Singapore, February 13, 2024: Valeura Energy Inc.
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