Valeura Energy Inc. Announces Record 2P Reserves, Higher Reserves Life Index

Contributing sentiments towards policy:

55% : Forward-looking information is based on management's current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; future drilling activity on the required/expected timelines; the prospectivity of the Company's lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; royalty rates and taxes; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company's reserves and contingent resources; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; future debt levels; and the Company's continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner.
54% : 2P reserves by field, and their associated after-tax 2P NPV values are indicated below.
53% : Adding, not just replacing reserves, with a 2P reserves replacement ratio of 192%; * 2P reserves net present value ("NPV ") before tax of US$872 million and US$692 million on an after tax basis ; * Year-end 2025 cash position of US$306 million, and a net asset value ("NAV") of US$998 million, equating to approximately C$13 per common share ; * RLI increased to a new record of 7.5 years, on a 2P basis ; and *
53% : The year-on-year change between the NSAI 2024 Report and NSAI 2025 Report indicates an increase in both 2P reserves volumes and the associated after-tax value for both the Jasmine and Wassana fields, reflecting the conversion of 2C resources to 2P reserves in both instances, bolstered in particular by the Company's decision to proceed with redevelopment of the Wassana field, for which the final investment decision was announced in May 2025.
52% : Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.
51% : The Company estimates that, based on the 2P net present value of estimated future revenue after income taxes in the NSAI 2025 Report (based on a 10% discount rate), plus the Company's 2025 year-end cash position of US$305.7 million, the Company has a 2P NAV of US$997.7 million.
50% : Reserves volumes and associated after-tax 2P values for the Manora and Nong Yao fields have decreased between the NSAI 2024 Report and NSAI 2025 Report, driven primarily by the significantly reduced forecast oil pricing applied in the year-end 2025 evaluation vs the year-end 2024 evaluation.
50% : Such metrics are commonly used in the oil and gas industry and have been included herein to provide readers with additional measures to evaluate the Company's performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods.
48% : Above volumes and values do not include the recent farm-in to blocks G1/65 and G3/65 in the Gulf of Thailand, which will be additive upon completion (the "Farm-in Transaction"). (1) Discounted at 10% ("NPV ") (2) 2P NPV after tax plus cash of US$305.7 million (no debt), using US$/C$ exchange rate of 1.3722 and 105.5 million common shares of the Company (the "Common Shares") outstanding, as at 31 December 2025 (3) Based on 2P reserves divided by the mid-point of the Company's 2026 guidance production of 21 Mbbls/d (4) Subject to government approval Dr. Sean Guest, President and CEO commented: "For the third time in a row we have added approximately double the reserves we produced during the year, achieving a 2P reserves replacement ratio of 192%.
48% : A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company's ability to manage growth; the Company's ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.