Valeura Energy Inc.

09:51 AM EST - Valeura Energy Inc. : Reports natural gas production test results for the Devepinar-1 well. Following short-term tests on each of the three intervals stimulated in the well, as announced on November 29, 2019, the Company drilled out the plugs isolating each interval, installed 2 7/8" production tubing, and conducted a comingled production test across a 125-metre gross section from 4,640 metres to 4,765 metres lasting approximately 11 days. The comingled test yielded gas flow rates similar to the results measured from the single intervals previously tested. This may indicate that each of the three stimulations contacted a common fracture network with further modelling work underway to fully interpret these test results. The average flow rate over the 11-day comingled test period was 908 mcf/d and the gas flow for the final 24 hours of testing was 462 mcf/d. Valeura Energy Inc. shares T.VLE are trading down $0.49 at $0.55.