Valeura Energy to acquire KrisEnergy International (Thailand) from KrisEnergy (Asia) for $10m.

Valeura Energy, a Canada-based public company engaged in the exploration, development, and production of petroleum and natural gas in Turkey, agreed to acquire KrisEnergy International (Thailand), two operated licences offshore Thailand holder, from KrisEnergy (Asia) for $10m. “I am delighted to announce the first transaction in our new growth strategy as we evolve Valeura into a geographically diverse oil and gas business that generates near-term cash flow and provides built in upside opportunities. The Acquisition will mark a new beginning for all our stakeholders, who will benefit from an immediate addition of value at very attractive acquisition metrics without the need for external financing," Sean Guest, Valeura President and CEO.