VAALCO Energy Provides Update On Operations

VAALCO Energy, Inc provided the following update on recent activities. Previously announced maintenance work on the Company's leased Floating, Production, Storage and Offloading (FPSO) vessel has been successfully completed ahead of schedule and production restarted from the Etame Marin block. Extensive maintenance and repairs have been performed on the FPSO processing systems including the gas compressor, the high pressure separator, the high pressure flare scrubber, and the installation of a new fuel gas scrubber. As previously announced, a second potential FPSO shutdown is tentatively planned during the second half of 2014 to upgrade the fire and gas detection systems.

While the FPSO was down, VAALCO also undertook maintenance work on other infrastructure in the Etame Marin block. In addition, the electrical submersible pumps on the Avouma 2-H well were recently replaced and the well was brought back on-line after the operations on the FPSO were concluded. The Company is in the process of returning oil production from the four producing fields comprising the Etame Marin block to pre-shut-in operating conditions.

All work was completed safely without impact on the environment.

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