VLE.TO/PNWRF - so...
..Inlani-1 is carried and does not impact their C$ 60mm treasury, it only starts to decline once Equinor has completed their earn-in-obligations, which was after Inlani-1 on the conference call.
FYI - I work in transactions in Canada and I never use the $ it's either the $C or the $US since they are so different now at 0.77 C/US and the world works in $US...but:
Valeura reports in $C, they raised the 60 million in $C, are referring to still just shy of $C 60 million in cash on their balance sheet currently, and I bet that 25 million is $CAD which is $USD 19.2 million for perhaps two wells (Devepinar-1, plus the next one they talked about being permitted between several optional locations) or under $US 10 million per well which is pretty darn reasonable considering limited economies of scale for deep drilling like this in Turkey.
Mistakes like this are endemic in Canadian finance industry FYI so take everything you see coming out of Canadian company with a grain of salt and need to step back and consider if you're dealing with a Loonie or George Washington.
