Valeura Energy Inc.: Block B5/27 Drilling Results

Core Viewpoint - Valeura Energy Inc. has successfully completed an eight-well drilling campaign at Licence B5/27 in the Gulf of Thailand, which is expected to enhance cash flow and extend the economic life of the field [1][2][14]. Drilling Campaign Overview - The drilling campaign included successful development wells from the Jasmine C and Ban Yen A platforms, with both exceeding management's expectations for total oil pay [3][6]. - The company drilled two development wells from the Jasmine D platform, both of which are now contributing to production [10]. Well Performance - Well C-30ST1H was completed as an oil producer despite being drilled into a mixed gas/oil transition zone, utilizing an autonomous inflow control device [4]. - Well C-39 was successful in developing three separate reservoir intervals and is now a multi-zone producer [5]. - Well BYA-35ST1 encountered approximately double the pre-drill estimates for total oil pay and will contribute to future development drilling [7]. - Well D-44 verified upside in all secondary targets, indicating potential for further development [11]. Exploration and Future Plans - The Ratree exploration well encountered only trace amounts of hydrocarbons, suggesting insufficient hydrocarbon charge in that reservoir trend [13][14]. - The company plans to mobilize its drilling rig to the Nong Yao field for a new program of approximately 10 development wells [15]. Company Strategy - Valeura Energy Inc. is focused on a growth-oriented strategy, aiming to reinvest in its producing asset portfolio and pursue further growth in Southeast Asia [16].