EGY

VAALCO Successfully Completes Two Etame Field Well Workovers

Retrieved on: 
Monday, November 1, 2021

HOUSTON, Nov. 01, 2021 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today announced that it has completed the two previously-announced workovers at the Etame field offshore Gabon and added a total of approximately 1,050 gross barrels of crude oil per day (BOPD), (540 net BOPD to VAALCO).

Key Points: 
  • HOUSTON, Nov. 01, 2021 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today announced that it has completed the two previously-announced workovers at the Etame field offshore Gabon and added a total of approximately 1,050 gross barrels of crude oil per day (BOPD), (540 net BOPD to VAALCO).
  • George Maxwell, VAALCOs Chief Executive Officer, commented, We are pleased with the results from these workovers, in particular, the 1,050 gross BOPD of additional production.
  • We will continue to efficiently operate at Etame which generates strong cash flow to fund our accretive strategic initiatives.
  • VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.

Bradley L. Radoff Issues Open Letter to Recently-Appointed Independent Directors of Enzo Biochem

Retrieved on: 
Tuesday, October 19, 2021

We need you to be change agents in the boardroom, not rubberstamped votes for Dr. Rabbani.

Key Points: 
  • We need you to be change agents in the boardroom, not rubberstamped votes for Dr. Rabbani.
  • The participants in the proxy solicitation are anticipated to be The Radoff Family Foundation, a Texas non-profit corporation (Radoff Foundation), Bradley L. Radoff and Lorrie A. Carr.
  • As of the date hereof, Radoff Foundations directly beneficially owns 400,000 shares of common stock, par value $0.01 per share, of the Company (Common Stock).
  • As of the date hereof, Mr. Radoff directly beneficially owns 3,075,100 shares of Common Stock.

VAALCO SCHEDULES THIRD QUARTER 2021 EARNINGS RELEASE AND CONFERENCE CALL

Retrieved on: 
Tuesday, October 19, 2021

HOUSTON, Oct. 19, 2021 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today announced the timing of its third quarter 2021 earnings release and conference call.

Key Points: 
  • HOUSTON, Oct. 19, 2021 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today announced the timing of its third quarter 2021 earnings release and conference call.
  • The Company will issue its third quarter 2021 earnings release on Wednesday, November 3, 2021 after the close of trading on the New York Stock Exchange and host a conference call to discuss its financial and operational results on Thursday morning, November 4, 2021 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time and 3:00 p.m. London Time.)
  • Participants should ask to be joined to the VAALCO Energy Third Quarter 2021 Conference Call.
  • VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.

VAALCO and Consortium Provisionally Awarded Two Offshore Blocks in Gabon

Retrieved on: 
Monday, October 11, 2021

HOUSTON, Oct. 11, 2021 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today announced that it has entered into a consortium with BW Energy and Panoro Energy and the consortium has been provisionally awarded two blocks in the 12th Offshore Licensing Round in Gabon.

Key Points: 
  • HOUSTON, Oct. 11, 2021 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today announced that it has entered into a consortium with BW Energy and Panoro Energy and the consortium has been provisionally awarded two blocks in the 12th Offshore Licensing Round in Gabon.
  • The two blocks, G12-13 and H12-13, are adjacent to VAALCOs Etame PSC as well as BW Energy and Panoros Dussafu PSC offshore Southern Gabon, and cover an area of 2,989 square kilometers and 1,929 square kilometers, respectively.
  • This consortium is uniquely positioned with the knowledge, experience and expertise of progressing world class discoveries in Gabon adjacent to these awarded blocks.
  • In the event the consortium elects to enter the second exploration period, the consortium will be committed to drilling at least another exploration well on each of the awarded blocks.

VAALCO Announces Etame Co-Venturers Approve FSO Agreements

Retrieved on: 
Tuesday, August 31, 2021

HOUSTON, Aug. 31, 2021 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today announced that the Etame co-venturers approved the Bareboat Contract and Operating Agreement (collectively, the Agreements) with World Carrier Offshore Services Corp and the Agreements are now effective.

Key Points: 
  • HOUSTON, Aug. 31, 2021 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today announced that the Etame co-venturers approved the Bareboat Contract and Operating Agreement (collectively, the Agreements) with World Carrier Offshore Services Corp and the Agreements are now effective.
  • George Maxwell, VAALCOs Chief Executive Officer, commented, The quick approval of the Agreements by our co-venturers further solidifies the tremendous benefits of this FSO solution at Etame.
  • We expect to have the FSO in place and operating in September 2022 prior to when our current FPSO contract expires.
  • VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.

VAALCO Announces Binding Letter of Intent for FSO at Etame

Retrieved on: 
Wednesday, August 25, 2021

The non-binding LOI with Omni Offshore Terminals Pte Ltd, which VAALCO announced in April of this year, expired without any mutually agreeable contract being reached.

Key Points: 
  • The non-binding LOI with Omni Offshore Terminals Pte Ltd, which VAALCO announced in April of this year, expired without any mutually agreeable contract being reached.
  • Current total field level capital conversion estimates are $40 to $50 million gross ($26 to $32 million net to VAALCO) spread across 2021 and 2022.
  • It is clear this is a very economical solution for VAALCO and should help us to enhance the profitability of our flagship asset at Etame and materially increase stakeholder returns.
  • We expect to have the FSO in place and operating in September 2022 prior to when our current FPSO contract expires.

VAALCO Energy to Participate in Upcoming Investor Conference

Retrieved on: 
Thursday, August 12, 2021

The presentation will be webcast live and archived on VAALCOs website, www.vaalco.com, in the Investor Relations section.

Key Points: 
  • The presentation will be webcast live and archived on VAALCOs website, www.vaalco.com, in the Investor Relations section.
  • An updated investor slide deck will be posted in the Investor Relations section of VAALCOs website under Presentations on Monday morning, August 16th, 2021.
  • VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.
  • VAALCO also owns a working interest on Block P in Equatorial Guinea.