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VAALCO Announces Letter of Intent for FSO at Etame
VAALCO Energy, Inc.April 27, 2021 GMT
HOUSTON, April 27, 2021 (GLOBE NEWSWIRE) VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced that it has signed a non-binding letter of intent (“LOI”) with Omni Offshore Terminals Pte Ltd (“Omni”) to provide and operate a Floating Storage and Offloading (“FSO”) unit at VAALCO’s Etame Marin field offshore Gabon for up to 11 years upon the expiration of the current Floating Production, Storage and Offloading (“FPSO”) contract with BW Offshore in September 2022.
AND FULL YEAR 2020 RESULTS AND RESERVES UPDATE HOUSTON - March 10, 2021 - VAALCO Energy, Inc. (NYSE/LSE: EGY) ( VAALCO or the Company ) today reported operational and financial results for the fourth quarter and full year of 2020. · Closed the transformational acquisition of Sasol s working interest in the Etame field; o Nearly doubles VAALCO s total net production and reserves; o Estimated acquisition cost per NRI barrel
(6) of $14.41 for SEC proved reserves and $4.91 for 2P CPR reserves; · Produced 4,662 net revenue interest ( NRI )
(1) barrels of crude oil per day ( BOPD ), or 5,359 working interest ( WI )
(2) BOPD in Q4 2020; · Reported net loss of $3.6 million ($0.06 per diluted share), Adjusted Net Loss
VAALCO Energy, Inc. (NYSE/LSE: EGY) (“VAALCO” or the “Company”) today reported operational and financial results for the fourth quarter and full year of 2020.
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