Valeura completes drilling of three wells at Manora

Executive Summary

• Valeira Energy completed an infill drilling campaign at the Manora field (block G1/48) with all three wells (MNA‑41, MNA‑35ST1, MNA‑42H) successfully brought on stream as oil producers.
• Average working‑interest oil production rose from 1,950 bbl/d to 2,626 bbl/d following the new wells.
• Significant reservoir intervals were intersected, including 556 ft of net oil pay in a 1,046‑ft lateral (MNA‑42H) and multiple oil‑pay zones in the 300‑ and 400/500‑series sands, exceeding management expectations and potentially adding to reserves.

Key Details

• Campaign Scope: Two infill development targets + one appraisal well from Manora A platform; all three wells now producing oil.
• Production Impact: Working‑interest share production increased to an average of 2,626 bbl/d (up from 1,950 bbl/d).
• MNA‑41 (Appraisal Well):
• Deviated well evaluating two reservoir intervals.
• Encountered oil pay in the 300‑series sand and five oil‑pay zones in the 400/500‑series reservoir.
• Completed as a commingled oil producer, now on production.
• MNA‑35ST1 (Sidetrack):
• Sidetrack of existing MNA‑35 well targeting same intervals as MNA‑41.
• Two pay zones in the 300 sands identified for future development.
• Currently producing five oil‑pay zones within the 400/500 reservoir sands.
• MNA‑42H (Horizontal Development Well):
• Geo‑steered horizontal well in the 300‑series sand.
• 1,046‑ft lateral intersected 556 ft of net oil pay – exceeding expectations.
• Completed and on line as a horizontal oil producer.
• Safety & Execution: Campaign completed safely, on schedule, and within budget.
• Next Steps: Drilling rig mobilized to Nong Yao field (block G11/48) for a production‑oriented campaign from the Nong Yao A and B wellhead facilities.
• Future Disclosure: Audited 2025 financial results, annual information form, and reserves/resources estimates to be released on March 18 2026 per NI 51‑101 requirements.

Notable Quotes

“Our Manora drilling campaign illustrates that we can continue adding to the ultimate production potential of our Gulf of Thailand fields… We have once again delivered new production from the field and also laid the basis for further development in the future.” – Dr. Sean Guest, President & CEO.