Growing oil and gas demand in Asia has prompted SET-listed Thoresen Thai Agencies (TTA), an investment holding firm, to acquire a 10.14% share in Valeura Energy Inc, the second-largest oil producer in Thailand.
The Canada-based petroleum exploration and production company operates many petroleum blocks in the Gulf of Thailand.
Valeura owns the Jasmin and Wassana blocks and holds a 90% share in the Nongyao block and a 70% share in the Manora block.
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.