Valeura Energy Inc Announces Q3 2025 Operations and Financial Update

Executive Summary

• Valeura reported Q3 2025 average working‑interest oil production of 23.0 mbbl/d, rising to 24.8 mbbl/d after a ten‑well infill drilling campaign at the Nong Yao field.
• Oil sales for the quarter totaled 2.16 million barrels at an average realized price of US$72.06/bbl (US$2.52 premium to Brent).
• Cash on hand increased to US$248.3 million (no debt) and a net crude receivable of US$36.7 million is expected in mid‑October.

Key Details

• Production Performance – Q3 average working‑interest share oil production: 23.0 mbbl/d (+6.2% vs. Q2). End‑quarter seven‑day average: 24.8 mbbl/d.
• Oil Sales & Pricing – 2.16 million barrels sold in Q3, up 8.7% from Q2; realized price US$72.06/bbl (US$2.52 premium to Brent).
• Cash Position – Cash at September 30 2025: US$248.3 M; net crude receivable of US$36.7 M expected mid‑October. No debt.
• Nong Yao Drilling Campaign (10 wells)
• Nong Yao A: 3 horizontal development wells (NYA‑39H, NYA‑41ST 1H, NYA‑40H) – all successful; NYA‑40H encountered additional bypassed oil in shallower reservoirs.
• Nong Yao B: 4 horizontal development wells + 1 appraisal well. Notable: one sidetrack (NYB‑29ST 1H) not completed as producer; appraisal well NYB‑29 confirmed H8.0 & H8.5 sand potential.
• Nong Yao C: 2 horizontal wells – NYC‑11H on‑stream with strong net oil pay; NYC‑12H provided reservoir data that enabled production increase from existing wells.
• Production Impact of Drilling – Working‑interest share production from Nong Yao rose from ~7,996 bbl/d (pre‑new wells) to 11,562 bbl/d (seven‑day average ending Sep 30).
• Strategic Farm‑in – Ongoing farm‑in agreement in the Gulf of Thailand (subject to Thai government approval) expected to add gas acreage and strengthen long‑term partnership with PTTEP.
• Wassana Redevelopment – Construction phase on schedule; new wellhead facility slated for late 2026 deployment, first oil targeted for Q2 2027.
• Exploration Seismic & Gas Discoveries – Acquired 1,200 km² of 3D seismic on blocks G1/65 and G3/65; gas discovered at Jarmjuree South (G1/65) and Bussabong (G3/65), prompting discussions on future field development.
• Future Results Release – Full unaudited Q3 2025 financial and operating results to be released on 2025‑11‑14, with a management webcast the same day.

Notable Quotes

“Our strong operational performance continued in Q3 2025… The new wells … showcase our world‑class operating capabilities while maintaining the highest health, safety and environmental standards.” – Dr. Sean Guest, President & CEO
“The strategic farm‑in will formalise an important relationship in Thailand that we believe will serve all stakeholders well for many years to come.” – Dr. Sean Guest, President & CEO