Valeura Energy Inc. (TSX:VLE)(LSE:VLU) (“Valeura” or the “Company“), the upstream natural gas producer focused on appraising and developing an unconventional gas accumulation play in the Thrace Basin of Turkey in partnership with Equinor, announces that Lyle Martinson will be retiring from the Company due to unforeseen personal reasons, and Peter Sider will assume the role of Chief Operating Officer (“COO“).

People on the move: New COO at Valeura Energy - oil and gas 360

Valeura Energy Inc. (CNW Group/Valeura Energy Inc.)

Peter Sider is a professional engineer with more than 35 years experience in international operations and executive leadership roles. Most recently, Mr. Sider was Country Manager for Valeura, based in Ankara, Turkey, and as such, brings first-hand operations and in-country experience to the role of COO. Before joining Valeura, Mr. Sider held several senior international operations roles, including VP of Operations, Engineering and Business Development for Petromanas Energy based in Albania, where he oversaw exploratory drilling and completions into fractured carbonates at depths greater than 5,000 metres. Prior to that, he was VP of Operations for Vermilion Energy based in France, with responsibility for operations and production in Europe.

Mr. Martinson will work with Mr. Sider to ensure a smooth transition of the COO role.

Sean Guest, President and CEO commented:

“Lyle has been with the Company since its founding and we are deeply thankful for his dedicated work in building up Valeura’s conventional gas production and the exciting deep exploration and appraisal programme. Lyle’s commitment to safety and efficiency is beyond reproach. We wish him well in his retirement.

Peter’s direct experience with Valeura’s operations in Turkey provides seamless continuity for the business, making him the ideal candidate to take on the role of COO. We have already benefitted from his hands-on approach and depth of knowledge garnered from 35 years in international production and operations. Please join me in welcoming Peter to the executive team.”

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