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Valeura Energy $VEl #VLU is a deep value case that is likely to re-rate. Before the recent acquisition $VLE had cash on hand 40m$ which is equivalent of 0.58CAD/share and a huge deep tight gas asset in Turkey. In this thread I will explain why I am buying $VLE shares. 
Here is an overview of the transaction. $VLE acquire Thai oil asset from bankrupt KrisEnergy for $3.1m initial payment. The Wassana oilfield is expected to produce 3000 bopd after reactivation, field was shut-in during 2020 oil-crash. After reactivation 9m$ quarterly CF expected.
The Tax losses are the key for the transaction which make $VEL keep ~62% of profit. Assuming 100$ oil sell price -> 62$ CF. 2P case 4m barrels. Acquisition and Capex cost: 3+2+9.2+30m for 5 infill wells -> 11$/barrel. So we look 50$ net profit per barrel. 4m barrels -> 200m$
