Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF), the upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Turkey, has announced the successful completion of an infill drilling campaign at its Nong Yao oil field (90% operated working interest), offshore Gulf of Thailand.
The Company has drilled four wells at the Nong Yao A wellhead processing platform, including three production-oriented development wells and one appraisal well. The development wells have encountered targets in line with pre-drill expectations and have been brought online as producers. The appraisal well was designed to delineate the extent of certain reservoir intervals in the field that are currently not producing. Results from the appraisal well have exceeded expectations, with the well confirming approximately 50’ of new net oil pay over several intervals. The Company anticipates this will give rise to between two and four additional development targets, which will form the basis of a future infill drilling campaign.
