Presentation

VAALCO Energy, Inc. is a Houston, Texas-based independent energy company principally engaged in the acquisition, development, and production of crude oil. VAALCO’s strategy is to increase reserves and production through the development and exploitation of international oil and natural gas properties. The company’s properties are located primarily in Gabon and Equatorial Guinea in West Africa. The company is listed on the New York Stock Exchange (NYSE) and the Main market of the London Stock Exchange.

VAALCO has a 58.1% working interest and operatorship of the Gabon offshore Etame license, which is the company’s main producing asset. Production in Etame was ~4,900 bopd in FY’20, while net 2P reserves and 2C resources stood at ~34 mmboe and ~47 mmboe, respectively. A new drilling program in 2021/2022 is expected to increase gross production in Etame by 7,000 – 8,000 bopd. The program, which has a preliminary cost estimate of USD ~75m net to VAALCO, involves drilling four new wells and is scheduled to commence in Q4’21. In addition, VAALCO has 45.9% working interest in Block P in Equatorial New Guinea, with near term development opportunities.