VAALCO Response to Media Speculation

Source: www.gulfoilandgas.com 2/27/2024, Location: Africa

The Board of Directors of VAALCO Energy, Inc. notes the recent media speculation in Africa Intelligence and confirms that the Company is in discussions with the owner of Svenska Petroleum Exploration AB (“Svenska”) regarding a possible debt-free corporate transaction to acquire Svenska whose primary asset is a 27.39% interest in Block CI-40, offshore Cote d’Ivoire, which has current working interest production of approximately 4,500 barrels of oil equivalent per day net to Svenska.

Should the possible acquisition proceed, it is expected to be funded by cash on hand. The possible acquisition is also expected to be subject to a number of customary closing conditions, including regulatory and government approvals.

There can be no assurance that a definitive agreement for the possible acquisition will be entered into or, if a definitive agreement is entered into, that the possible acquisition will proceed to completion, and the Company will issue a further statement as appropriate.


United Kingdom >>  4/17/2024 - Macquarie Asset Management has agreed for Macquarie Green Energy and Climate Opportunities Fund to acquire a portfolio of six solar, wind, energy stor...
United States >>  4/17/2024 - Sunoco LP (NYSE: SUN) ("SUN" or the "Partnership") today announced the completion of the acquisition of liquid fuels terminals from Zenith Energy and ...

United States >>  4/17/2024 - Custom Truck One Source, Inc. (NYSE: CTOS) proudly announces its acquisition of the business of A&D Maintenance and Repair. Founded in 1986, A&D Maint...
United States >>  4/16/2024 - Next Bridge Hydrocarbons, Inc. ("Next Bridge," "our," "we," or the "Company"), an oil and natural gas exploration and production company with interest...

Canada >>  4/15/2024 - Russel Metals Inc. (RUS: TSX) is providing an update with respect its previously announced transaction (the "Transaction") to acquire seven service ce...
Sudan >>  4/15/2024 - In September 2023 the Company was notified by the Sudanese Minister of Petroleum & Energy that it was not able to sign a Production Sharing Agreement ...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.