Valeura Energy has made three further oil discoveries with its latest drilling campaign in the Gulf of Thailand.
The Nong Yao-13 well in the offshore G11/48 concession, drilled to a TVD of 3,342 ft, encountered more than 30 ft of new oil pay across several intervals. And the program confirmed that oil had migrated into this part of the block, previously viewed as a risk in the Nong Yao D area.
Productive intervals discovered are relatively shallow zones not produced elsewhere on the concession, and the reservoirs could recur across the Nong Yao D area, warranting further analysis on the seismic data.
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.