Valeura Implements New Share Buyback Programme

Rhea-AI Summary

Valeura (TSX:VLE / OTCQX:VLERF) received TSX approval for a new Normal Course Issuer Bid (NCIB running Nov 20, 2025 to Nov 19, 2026).

Under the NCIB Valeura may purchase up to 6,298,884 shares (approximately 10% of public float as at Nov 6, 2025). There were 105,716,754 shares outstanding as at Nov 6, 2025. Purchases will be made on the TSX and alternative Canadian trading systems, with all purchased shares cancelled.

The NCIB includes a daily maximum of 71,382 shares (25% of average daily volume for May 1–Oct 31, 2025) and an automatic share purchase plan to allow buys during blackout periods. The new NCIB follows an expired NCIB under which Valeura purchased 1,942,504 shares at an average price of C$7.1575.

Positive

• NCIB size of 6,298,884 shares (~10% public float)
• All purchased shares will be cancelled, reducing outstanding share count
• Includes an automatic purchase plan to buy during blackout periods
• Previous buybacks: 1,942,504 shares purchased at average C$7.1575

Negative

• Daily cap of 71,382 shares may limit repurchase pace
• NCIB is limited to a one-year window ending Nov 19, 2026

CALGARY, AB / ACCESS Newswire / November 18, 2025 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) ("Valeura" or the "Company") is pleased to announce that it has received Toronto Stock Exchange ("TSX") approval of the Company's notice of intention to make a new Normal Course Issuer Bid ("NCIB"). The NCIB will commence on November 20, 2025 and end on November 19, 2026, or such earlier date as Valeura may determine or upon completion of purchases pursuant to the NCIB. Under the NCIB, Valeura may purchase up to 6,298,884 of its common shares ("Shares"), representing approximately 10% of the public float of Shares as at November 6, 2025. As at November 6, 2025, there were 105,716,754 Shares outstanding.

Valeura's management and board feel the NCIB is an important tool to facilitate offsetting natural dilution and to reduce the total Shares outstanding. This reflects the Company's belief that the market price of the Shares may not reflect Valeura's intrinsic value and future prospects. The Company believes the purchase of Shares may represent an appropriate use of Valeura's financial resources to enhance shareholder value.

New NCIB
Purchases made pursuant to the NCIB will be made in the open market through the facilities of the TSX and/or through alternative Canadian trading systems and all Shares purchased pursuant to the NCIB will be cancelled. The number of Shares that can be purchased is subject to a daily maximum, subject to certain exceptions, of 71,382 Shares, which is equal to 25% of the average daily trading volume for the Shares on TSX for the period May 1, 2025 to October 31, 2025. Valeura will also employ an automatic share purchase plan with a designated broker, which will allow for purchases of Shares at pre-determined levels at times when Valeura would not otherwise be active in the market due to applicable regulatory restrictions or internal trading black-out periods.

Previous Purchases
This new NCIB follows the Company's previous normal course issuer bid (the "Expired NCIB") which commenced on November 14, 2024 and ended on November 13, 2025. Under the Expired NCIB, the Company received TSX approval to purchase up to 7,390,245 Shares, and purchased and cancelled, on the TSX open market and through block purchases, 1,942,504 Shares at an average price of C$7.1575 per Share.

For further information, please contact:

Valeura Energy Inc. (General Corporate Enquiries)+65 6373 6940
Sean Guest, President and CEO
Yacine Ben-Meriem, CFO
Contact@valeuraenergy.com

Valeura Energy Inc. (Investor and Media Enquiries) +1 403 975 6752 / +44 7392 940495
Robin James Martin, Vice President, Communications and Investor Relations
IR@valeuraenergy.com

Contact details for the Company's advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, and Stifel Nicolaus Europe Limited, are listed on the Company's website at www.valeuraenergy.com/investor-information/analysts/.

About the Company

Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

Advisory and Caution Regarding Forward-Looking Information

Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "target" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this news release includes, but is not limited to, statements pertaining to the NCIB and the expected Share purchases thereunder and the Company's business objectives.

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. In addition, the Company's work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners' plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. 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. See the most recent annual information form and management's discussion and analysis of the Company for a detailed discussion of the risk factors.

The forward-looking information contained in this new release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this new release is expressly qualified by this cautionary statement.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This news release is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

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.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Valeura Energy Inc.

View the original press release on ACCESS Newswire

FAQ

How many shares will Valeura (VLERF) seek to repurchase under the Nov 2025 NCIB?

Valeura may repurchase up to 6,298,884 shares, about 10% of the public float as at Nov 6, 2025.

When does the Valeura (VLERF) NCIB start and end?

The NCIB runs from Nov 20, 2025 through Nov 19, 2026, unless completed or ended earlier.

What is the daily purchase limit for Valeura (VLERF) under the NCIB?

The daily maximum is 71,382 shares, equal to 25% of average daily TSX volume for May 1–Oct 31, 2025.

Will Valeura (VLERF) cancel shares bought under the NCIB?

Yes. All shares purchased under the NCIB will be cancelled.

Can Valeura (VLERF) buy shares during blackout periods under the NCIB?

Yes. Valeura will use an automatic share purchase plan with a designated broker to allow purchases during applicable blackout periods.

How many shares did Valeura (VLERF) buy under the previous NCIB and at what price?

Under the expired NCIB Valeura purchased 1,942,504 shares at an average price of C$7.1575.