Valeura Energy Inc. confirms a natural gas discovery in its first exploration well Bati Gurgen-1 on its 100% owned and operated Banarli licences in the Thrace Basin of Turkey, which flowed at an initial restricted rate of 3.4 million cubic feet per day on a 24-hour production test.

The Corporation is also pleased to advise that preliminary Q4 2015 net petroleum and natural gas sales in Turkey averaged 806 barrels of oil equivalent per day, which was in line with annual guidance and included 4.8 MMcf/d of natural gas at an average price realization of approximately $9.90 per thousand cubic feet, and 7.0 barrels per day of oil and condensate.

Tags: Valeura Energy Inc.