Valeura Energy has drilled two successful appraisal wells on the Wassana oil field, where production remains suspended.
The two wells found more oil in the Tertiary clastic section, in the deeper part of the reservoir. Valeura said the wells suggested there was potential for “substantial further development” of Wassana. As a result, it could increase production and extend the field’s economic life.
“This is an excellent outcome for the Wassana field and a demonstration of our team’s ability to uncover further value-adding subsurface opportunities,” said president and CEO Sean Guest.
Valeura Energy Inc (TSX:VLE) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.
