Valeura energy Inc. to sell shallow conventional assets. | Kalkine market update UK |

October 20, 2020 10:53 PM AEDT | By Team Kalkine Media

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Valeura Energy Inc. (LON:VLU) will be selling its producing shallow conventional gas business to TBNG Limited and has executed a SPA (Share Purchase Agreement) for that.

The SPA is for a cash consideration of USD15.5 million, along with royalty payments of up to an additional USD 2.5 million.

The transaction would not be altering the company's Thrace Basin interest in its 20 Tcfe unrisked mean prospective sources deep, tight gas play.

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