Prospectivity
- Proven petroleum systems
- Relatively benign offshore operating conditions in shallow water
- Mid-life fields with opportunities to extend field life through infill drilling and step-out exploration
- Remaining undeveloped oil accumulations
- Ongoing deal flow including exit of majors IOCs
Positive Business Environment
- Attractive fiscal terms under a concession system:
- Sliding scale royalty from 5-15% on gross revenue
- Petroleum income tax rate 50% on net profits
(tax losses carried forward up to 10 years) - Special Remuneration Benefit 0-75% on windfall profits
(expected to be nil for G10/48 and G6/48)
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.