Canada’s Valeura Energy will buy two operated licences offshore Thailand from Singapore’s KrisEnergy, which was forced into liquidation last year, for a price of $3.1 million. There will also be certain contingent payments of up to a further $7 million related to future development milestones, said Valeura Energy.
The deal covers the acquisition of working interests in two shallow water Gulf of Thailand licences: G10/48 licence (89% operated interest) presenting a near-term production reactivation opportunity of the Wassana oil field, and the G6/48 licence (43% operated interest) containing the undeveloped but fully appraised Rossukon oilfield, Valeura said.
Valeura Energy Inc (LON:VLU) 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.