Sign Up Now!
Back to Results
Note: Only one slide is currently available because you are not currently logged in.
Valeura Energy Inc
April 2012 Corporate Presentation
| Jim McFarland | Page 44 of 11 |
May 21, 2013
View in Results
[Partnerships & Agreements]
View Full Document
Slides may show historical information no longer relevant. All slides to be viewed in context of the entire presentation and time. See
44 OTTO PRODUCING ASSET PURCHASE Definitive agreement signed Dec 14, 2010 to acquire 35% interest in Edirne Licence 3839 in Thrace Basin held by Edirne Enerji (wholly owned by Australia - based Otto Energy Ltd.) Purchase price US$3.1MM (including taxes) with effective date Oct 1, 2010 Acquisition closed Mar 24, 2011 (ROFR waived by TransAtlantic) at adjusted purchase price at closing of $1.9MM GDPA approved licence interest transfer to Valeura on Sept 10, 2011 Edirne Licence performance 4 th quarter 2011: - 8 to 9 wells producing from six shallow gas fields in 100,080 acre licence area (35,028 acres net) - Average natural gas sales 3.3 MMcf/d (gross) (1.1 MMcf/d net) Operated by subsidiary of TransAtlantic Petroleum Ltd. 2011 capex approximately US$1.4MM (net) for drilling, workovers and wellhead compression: - 4 wells drilled in 2011 (2 abandoned); 1 successful workover - Currently reassessing potential drilling and workover inventory for 2012