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SECOND QUARTER 2021 RESULTS August 5 , 2021 Calgary , August 5 , 2021 : Valeura Energy Inc. ( TSX : VLE , LSE : VLU ) ( the " Company " or " Valeura " ) , an upstream oil and gas company with assets in the Thrace Basin of Turkey , reports its unaudited financial and operating results for the three month period ended June 30 , 2021 . Highlights • Shallow sale - The Company closed the sale of its conventional gas business on May 26 , 2021 and received net sale proceeds of US $ 16.85 million in cash ( including closing working capital and effective date adjustments ) plus deferred cash consideration valued at US $ 1.0 million ; • Financial position - Cash position of US $ 42.6 million at June 30 , 2021 ; • Strategy - Continuing to pursue near - term inorganic growth opportunities and seeking a suitable partner to farm - in to the Company's 20 Tcfe unrisked mean prospective resource deep , tight gas play . Sean Guest , President and CEO commented : " Our second quarter results reflect the close - out operating results from our conventional gas production and financial impact of having completed the sale . In addition to the immediate growth in our cash position to US $ 42.6 million , with the sale completed we are now entitled to future royalty income and are able to pursue our growth - oriented strategy as a smaller and leaner organisation . This structure sets us up well to evaluate new business opportunities with minimal strain on the balance sheet .