Valeura Energy stock: Suraphi discovery and gas project advance

Valeura Energy reported a new oil discovery in Thailand and a final investment decision for the first phase of a gas project in its Q3 2026 operations update dated October 7. The company also said work at the Wassana redevelopment was running ahead of schedule. Valeura Energy published the update, while World Oil reported the operating milestones.

Valeura said exploration drilling on Block G1/48 identified the Suraphi oil field. The company holds a 90 percent operated working interest in the block and believes the discovery could support additional oil development and extend the productive life of the nearby Manora field. Further appraisal and development work will determine how much of that potential can be converted into production.

Gas Decision Broadens Thailand Portfolio

The company also reached a final investment decision on the first phase of the Bussabong gas field on Block G3/65. Valeura holds a 40 percent non-operated working interest, and Thailand's cabinet approved the assignment of the interest. Completion was anticipated in October 2026, adding a gas-development project to a portfolio that has historically been centered on oil production.

At Wassana on Block G10/48, onshore construction of a new central processing platform finished on October 1, ahead of schedule. The jacket and platform were loaded for offshore transport and installation during October. Valeura said the oil-export pipeline linking the platform with the field's floating storage and offloading vessel had been completed in September.

Development drilling at Wassana is planned for late 2026. First oil from the new central processing platform is targeted for the beginning of the second quarter of 2027, with the redevelopment schedule running approximately two months ahead of its original plan. The project is therefore the next major execution milestone for investors watching the company's Thai production base.

Cash Position Supports Development

Q3 working-interest production before royalties averaged 22,100 barrels of oil per day. Valeura sold 2.013 million barrels at an average realized price of USD 97.40 per barrel, generating revenue of USD 196.1 million. The company ended September with USD 384.9 million in cash, including USD 15.8 million of restricted cash, and no debt.

Valeura also said cumulative production from the Jasmine field reached 100 million barrels on September 21. President and CEO Sean Guest described Q3 production as on plan and said the company had advanced its farm-in and Bussabong priorities while progressing Suraphi and Wassana.

Valeura Energy stock traded at 11.00 euros on Lang & Schwarz at 12:36 Berlin time on Friday, October 30, 2026. Follow the real-time quote of Valeura Energy stock for the latest indication.

Valeura Energy at a Glance

• Company: Valeura Energy Inc.
• ISIN: CA9191444020
• Ticker: VLE.TO
• Home exchange: Toronto Stock Exchange
• Lang & Schwarz price: 11.00 euros at 12:36 Berlin time on October 30, 2026
• Q3 production: 22,100 barrels of oil per day
• Q3 revenue: USD 196.1 million
• Cash: USD 384.9 million at September 30, 2026
• Debt: None at September 30, 2026

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Valeura intends to release its full unaudited Q3 financial and operating results on November 11, 2026, followed by a management webcast. The report should provide more detail on cash generation, project spending and the timetable for Suraphi, Bussabong and Wassana. More news and analyses on Valeura Energy stock.