Petroleum Africa
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Tuesday, June 8, 2021
VAALCO Energy, Inc. held its Annual General Meeting on Thursday, June 3 and outlined near-term value drivers to support accretive growth and generate shareholder returns.
Key Highlights of the refreshed strategy outlined at the Annual General Meeting:
George Maxwell, Chief Executive Officer, commented, “We recently held our Annual General Meeting where we outlined the pillars for our strategic vision. We plan to continue to profitably develop our world-class Etame asset offshore Gabon and successfully execute our upcoming 2021/2022 drilling and workover campaign. We have several initiatives underway geared toward maximizing our netbacks including our proposed FSO conversion and other cost saving initiatives. Through our hedging program, our capital commitments over the next 12 months are expected to be fully funded through our cash flow and cash on hand. We are reviewing near-term production development opportunities on Block P in Equatorial Guinea. As you can see, we are firmly focused on maximizing shareholder returns while we progress our refreshed strategic objectives focused on accretive growth.”
VAALCO has posted an updated investor presentation on its web site, www.vaalco.com under the Investor Relations tab that was created for the Annual General Meeting.
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