Valeura Energy Inc. Announces Shallow Gas Business Sale Closed
CALGARY, AB / ACCESSWIRE / May 26, 2021 / Valeura Energy Inc. (TSX:VLE) (LSE:VLU) (the
Company or
Valeura ), an upstream oil and gas company with assets in the Thrace Basin of Turkey, is pleased to announce the closing of its sale of its shallow conventional gas business to TBNG Limited (the
Sale Transaction ).
Valeura s corporate cash balance is now approximately US$44 million, and pursuant to the terms of the Sale Transaction the Company is entitled to receive royalty payments over a five-year period, tied to local gas prices and ranging in total from a minimum of US$1.0 million and a cap of US$2.5 million.
Advisory and Caution Regarding Forward-Looking Information Certain information included in this new release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward- looking information typically contains statements with words such as anticipate , believe , expect , plan , intend , estimate , propose , project , target or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this new release include, but are not limited to: the Company s entitlement to royalty payments over a five-year period, statements with respect to the Company s inorganic growth strategy, including its ability to identify M&A targets, stat
Owen Roberts, Billy Clegg, Monique Perks, Hugo Liddy
This Announcement does not contain inside information.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This announcement is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.
CALGARY, AB / ACCESSWIRE / May 13, 2021 / Valeura Energy Inc. (TSX:VLE)(LSE:VLU) (the "Company" or "Valeura"), an upstream oil and gas company with assets in the Thrace Basin of Turkey, reports its unaudited