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Valeura Energy sells shallow gas assets in Turkey for $15.5m plus capped royalty
StockMarketWire.com
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Oil company Valeura Energy said it had agreed to sell its producing shallow conventional gas business in Turkey to TBNG for $15.5 million, plus royalty payments of up to $2.5 million.
Valeura said the sale proceeds would add to a 'strong' net cash position, which was around $31 million at the end of September.
It added that the case would bolster its ability to execute its growth strategy through mergers and acquisitions and further appraisal of its deep gas play.
At 9:45am: (LON:VLU) share price was +4.5p at 24p
Story provided by StockMarketWire.com
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