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Valeura Energy Inc. (T:VLE)

Business Focus: Natural Gas Exploration & Production - Onshore

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Sector:  Energy Industry:  Oil & Gas Exploration and Production
See Regulatory Filings on SEDAR
Company Contact
Address: Bow Valley Square I
202 6 Ave SW Suite 1200
Tel: 1-403-9301151
IR: See website
Key People
Timothy R. Marchant
Chairman of the Board
Sean Guest
President, Chief Executive Officer
Stephen E. Bjornson
Chief Financial Officer
Lyle A. Martinson
Chief Operating Officer
Donald W. Shepherd
Vice President - Engineering
Business Overview
Valeura Energy Inc. is a Canada-based company engaged in the exploration, development and production of petroleum and natural gas in Turkey. The Company is focused on its natural gas operations in the Thrace Basin in northwest Turkey. The Thrace Basin is located in an area west of Istanbul and extending to the borders with Greece and Bulgaria. The TBNG-PTI JV lands are located in the Thrace Basin. Natural gas is produced from both conventional and unconventional (tight gas) sandstone reservoirs in onshore leases and licenses on the TBNG-PTI JV lands. The Thrace Basin also includes Banarli exploration licenses. The Company also holds interests in minor properties, including production leases at Edirne in the Thrace Basin. The natural gas production from the Edirne production leases is sold domestically to a wholesale gas marketer. The Company holds interest in approximately five exploration licenses in the Anatolian Basin located around the city of Gaziantep in southeast Turkey.
Financial Overview
For the six months ended 30 June 2019, Valeura Energy Inc. revenues increased 11% to C$6.2M. Net loss increased 36% to C$5.2M. Revenues reflect Petroleum and natural gas sales increase of 11% to C$7.1M. Higher net loss reflects Average Production Costs per bbl, Total increase of 6% to C$15.41 per barrel, Foreign exchange loss (gain) decrease from C$50K (income) to C$1.2M (expense), Transaction costs increase from C$287K to C$1.2M (expense).
Employees: 82 as of Dec 31, 2018
Reporting Currency: Canadian Dollars
Enterprise value: $154.08M as of Jun 30, 2019
Annual revenue (TTM): $10.99M as of Jun 30, 2019
EBITDA (TTM): -$0.97M as of Jun 30, 2019
Net annual income (TTM): -$8.50M as of Jun 30, 2019
Free cash flow (TTM): -$13.80M as of Jun 30, 2019
Net Debt Last Fiscal Year: N/A
Shares outstanding: 86,584,989 as of Jun 30, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization