FINALIZACIÓN DE ACUERDOS EN GUINEA ECUATORIAL
ESTE ANUNCIO CONTIENE INFORMACIÓN INTERIOR
VAALCO ENERGY, INC. ANNOUNCES FINALIZATION OF AGREEMENTS IN EQUATORIAL GUINEA
HOUSTON - 25 de marzo de 2024 - VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) ("VAALCO" or the "Company") today announced that all partners have signed the final documents and the Government of Equatorial Guinea has approved the Joint Operating agreement ("JOA") related to the previously approved Venus-Block P Plan of Development ("POD"). The Block P Production Sharing Contract ("PSC") provides for a development and production period of 25 years from the date of approval of the POD.
George Maxwell, VAALCO's Chief Executive Officer, commented, "With final documents for Block P signed, we are very excited to proceed with our plans to develop, operate, and begin producing from the discovery in Block P offshore Equatorial Guinea over the next few years. We will now proceed with our Front-End Engineering Design ("FEED" ) study. We anticipate the completion of the FEED study will lead to an economic Final Investment Decision or "FID" which will enable the development of the Venus POD. Over the past two years, we have greatly diversified our portfolio, which has expanded our ability to generate operational cash flow, all while growing our cash position and remaining bank-debt free. The Block P development will further enhance our portfolio by adding yet another strong producing asset to VAALCO's global portfolio. VAALCO is well placed to execute our projects in our enhanced portfolio, and has a proven operating track record for a development of this type."
Additional information will be provided in VAALCO's upcoming first quarter 2024 earnings release and Form 10Q in early May.
Sobre VAALCO
VAALCO, founded in 1985 and incorporated under the laws of Delaware, is a Houston, USA based, independent energy company with production, development and exploration assets in Africa and Canada. VAALCO owns a diverse portfolio of operated production, development and exploration assets across Gabon, Egypt, Equatorial Guinea and Canada.
Para mayor información
VAALCO Energy, Inc. (Consultas generales y de inversores) | +00 1 713 543 3422 |
Pagina web: | www.vaalco.com |
Al Petrie Advisors (Relaciones con inversores de EE. UU.) | +00 1 713 543 3422 |
Al Petrie/Chris Delange | |
Buchanan (relaciones públicas financieras del Reino Unido) | +44 0 207 466 5000 |
Ben Romney/Barry Archer |
Declaraciones prospectivas
This announcement includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and "forward-looking information" within the meaning of applicable Canadian securities laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. All statements other than statements of historical fact may be forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "forecast," "outlook," "aim," "target," "will," "could," "should," "may," "likely," "plan" and "probably" or similar words may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this announcement include, but are not limited to, statements relating to expectations regarding future exploration and the development, growth and potential of VAALCO's operations, project pipeline and investments, and schedule and anticipated benefits to be derived therefrom. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to the risks described under the caption "Risk Factors" in VAALCO's most recent Annual Report on Form 10-K and the risks described in VAALCO's subsequent public filings.
Información interna
Este anuncio contiene información privilegiada tal como se define en el Reglamento (UE) n.º 596/2014 sobre abuso de mercado que forma parte de la legislación nacional del Reino Unido en virtud de la Ley de (Retirada) de la Unión Europea de 2018 ("MAR") y se realiza de conformidad con el Obligaciones de la empresa según el artículo 17 del MAR. La persona responsable de organizar la publicación de este anuncio en nombre de VAALCO es Matthew Powers, Secretario Corporativo de VAALCO.
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