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Valeura Energy to invest $8 million in Gulf of Thailand exploration in 2024

Canada-based oil and gas company Valeura Energy has announced plans to invest around $8 million in 2024 for new exploration within its Gulf of Thailand licenses, with opportunities identified in Wassana North, Nong Yao D, and the Ratree Prospect, located near the Jasmine field. 

Valeura is forecasting average 2024 full year oil production of 21,500 – 24,500 bbls/d, based on the assumption that Nong Yao C development drilling will start in late first quarter of 2024 and continue for approximately four months. 

Accordingly, the company anticipates higher production in the second half of the year 2024.

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. 

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