Petroleum Africa
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Sunday, September 29, 2019
VAALCO Energy announced that its common shares were admitted to the standard listing segment of the Official List and the London Stock Exchange’s Main Market for listed securities under the ticker on September 23.
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 program and seek inorganic opportunities in line with our strategic focus.’
Vaalco holds a diverse West African portfolio with assets in both Equatorial Guinea and Gabon. Its average net production (after royalty deduction) stood at 3,664 barrels of oil per day for Q2 2019. The planned 2019/2020 work program at Etame in Gabon recently got underway to grow production and reserves, with up to three development wells and two appraisal wellbores expected to be drilled within the next 12 months.
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