Valeura Energy Inc. Announces COO Appointment and Board Changes

COO Appointment, Changes to the Board and Replacement of Auditor

CALGARY, AB / ACCESSWIRE / July 17, 2023 / Valeura Energy Inc. (TSX:VLE) ("Valeura" or the "Company"), the upstream oil and gas company with assets in the Gulf of Thailand and the Thrace Basin of Turkey, announces appointment of a chief operating officer, changes to its board of directors ("Board") and replacement of its auditor.

Chief Operating Officer Appointment

Greg Kulawski is joining Valeura as Chief Operating Officer, effective July 17, 2023. Mr. Kulawski is a seasoned executive leader, with 25 years of upstream oil and gas experience. His international career has been with Shell and his most recent roles were the Deputy CEO and Production Director of Sakhalin Energy, Vice President of Safety for the Shell group globally, and General Manager and Director of Shell's onshore and shallow water assets in Nigeria. He has substantial experience in brownfield production operations and greenfield developments including key health, safety and environment-related responsibilities. Mr. Kulawski has a proven track record in leading international and multi-cultural teams through complex projects including major facility turnarounds and integrating new businesses. Mr. Kulawski holds a Bachelor of Engineering in Electronics & Electrical Engineering and a Doctor of Philosophy from the University of Birmingham. He and his family will relocate to Singapore to join the rest of the Valeura executive team.

Board Changes

Ron Royal will retire from the Board effective August 1, 2023 after having provided dedicated service and significant contributions over a 13-year period from Valeura's inception in 2010.

Lina Lee will be appointed as an independent director of Valeura effective August 1, 2023. Ms. Lee is a specialist in finance and energy, with over 25 years of experience in multiple industries and cultures, culminating in senior leadership positions at BP. She has held roles focused on rigorous portfolio management, financial management, business development, treasury and deal structuring, most recently serving as CFO & VP Strategy of BP's Global Petrochemicals business. With considerable experience in developing and executing strategies focused on Asia, Europe, the Middle East, and Russia, Ms. Lee brings a wealth of international acumen and a strategic growth mindset, with a particular emphasis on executing inorganic growth transactions and business improvement initiatives. She is a Chartered Financial Analyst, with a business education from The Chinese University of Hong Kong, the Kelley School of Business at Indiana University, and the Harvard Business School. Ms. Lee is based in Hong Kong.