Vaalco Energy Admission to Trading & First Day of Dealings

Source: www.gulfoilandgas.com 9/26/2019, Location: North America

VAALCO Energy, Inc., an independent energy company focused on development and production assets in West Africa, is pleased to announce that its common shares (“Common Shares”) will be admitted to the standard listing segment of the Official List and the London Stock Exchange’s Main Market for listed securities (“Admission”) under the ticker EGY at 08:00 a.m. BST today. The ISIN of the Common Shares is US91851C2017 and the SEDOL number is BK5V2S9.

Prospectus
A copy of the Prospectus published by the Company on 23 September 2019 is available on the Company’s website (www.vaalco.com) and for inspection (subject to securities laws) at the National Storage Mechanism at www.morningstar.co.uk/uk/NSM. Hard copies of the Prospectus are also available at the offices of Memery Crystal LLP, at 165 Fleet Street, London EC4A 2DY.

Investment Highlights
- VAALCO is an established operator with a proven track record in West Africa.
- Operator of the Etame Marin Block located offshore Gabon (31.1% working interest), that has produced more than 110 million barrels of oil (“MMBBL”) since first sale of oil in November 2002.
- Average net production (after royalty deduction) of 3,664 barrels of oil per day for Q2 2019.
- Strategic focus on generating free cash flow from a low risk reserve base.
- Active 2019/2020 work programme at Etame recently underway to grow production and reserves, with up to three development wells and two appraisal wellbores that the Company expects to be drilled within the next 12 months. - Reserves and resources of approximately 123 MMBBL at Etame, based on a combination of internal estimates and estimates by the Company’s third partyengineering firm, Netherland Sewell and Associates.
- VAALCO believes that it has significant development opportunities and leads at or near existing platforms where infrastructure is in place to bring new production online quickly, further enhancing economics.
- Diversified portfolio with exploration and development potential from Block P, offshore Equatorial Guinea (31.0% working interest).
- Solid financial footing with no debt and $48.6 million of cash and cash equivalents at 30 June 2019.
- Actively pursuing M&A opportunities within strategic focus areas.

Cary Bounds, VAALCO's Chief Executive Officer commented: “This morning is a significant milestone for VAALCO and reflects several years of hard work by the Board and management team to strengthen the Company and set it on a path for sustainable long-term growth. Our listing on the LSE will complement our existing listing on the NYSE and provide another strategic platform to support our goals for growth. We look forward to continuing to build on our track record of operational excellence and value creation as we carry out our active work programme and seek inorganic opportunities in line with our strategic focus.”


Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.