HOUSTON, Feb. 24, 2026 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“Vaalco” or the “Company”) announced that it will be participating in SpareBank 1 Markets Energy Conference to be held in Oslo, Norway where Chief Executive Officer George Maxwell is scheduled to make a presentation on Wednesday, February 25, 2026. In conjunction with this press release, the Company has posted an updated investor presentation to its website. The presentation is available at the following link: (https://www ...

Core Viewpoint - Vaalco Energy, Inc. has announced positive operational updates in Gabon and Cote d'Ivoire, highlighting significant drilling results and a strategic partnership that positions the company for substantial production growth by 2030 [1][4]. Gabon Drilling Highlights - The Etame 15H-ST well has been successfully drilled and completed, achieving a stabilized flow rate of approximately 2,000 barrels of oil per day (BOPD) with a 38% water cut [6]. - The company is actively managing the well to stabilize pressure and reservoir management [6]. - A new exploration well in West Etame has been spudded, with a 57% chance of geological success, expected to reach the target zone by mid-March [6]. Cote d'Ivoire Highlights - Vaalco has been confirmed as the operator with a 60% working interest in the Kossipo field, which has an estimated 293 million barrels of oil equivalent (MMBOE) in place [4][6]. - A field development plan (FDP) is expected to be submitted in the second half of 2026, aimed at enhancing production in Cote d'Ivoire [4]. - The Baobab FPSO is on track to return to the field and commence production in Q2 2026, which, along with the Gabon drilling campaign, is anticipated to drive meaningful growth [4][6].

Core Viewpoint - Vaalco Energy, Inc. has declared a quarterly cash dividend of $0.0625 per share for Q1 2026, marking its 17th consecutive quarterly dividend, reflecting the company's strong cash-generative assets and commitment to returning value to shareholders [1][2]. Dividend Announcement - The quarterly cash dividend of $0.0625 per share is annualized to $0.25 and will be payable on March 27, 2026, to stockholders of record as of February 27, 2026 [1]. - Future dividends are subject to approval by the Board of Directors, which retains discretion over the declaration and payment of dividends based on various financial factors [6]. Company Overview - Vaalco Energy, founded in 1985 and incorporated in Delaware, is an independent energy company based in Houston, Texas, with a diverse portfolio of production, development, and exploration assets across multiple countries including Gabon, Egypt, Côte d'Ivoire, Equatorial Guinea, and Nigeria [2]. - The CEO, George Maxwell, emphasized the company's ability to create sustainable value through its high-quality, cash-generative assets and ongoing development projects [2].

Company Overview - Vaalco Energy, Inc. is an independent energy company based in Houston, Texas, founded in 1985, with a diverse portfolio of production, development, and exploration assets across Gabon, Egypt, Côte d'Ivoire, Equatorial Guinea, and Nigeria [1] Recent Developments - The company announced participation in non-deal road show meetings with prospective investors in Edinburgh, Scotland, scheduled for February 13, 2026 [1] - An updated investor presentation has been posted on the company's website [1] Project Updates - Key updates on the Baobab Ivoirien refurbishment project include the completion of dry dock work, as previously mentioned in the company's Third Quarter 2025 Results released in November [5]

Core Viewpoint - Vaalco Energy, Inc. has announced the sale of its non-core producing properties in Canada for approximately CAD 35.0 million (USD 25.6 million), with the effective date being February 1, 2026, and expected closure within 30 days, subject to customary conditions [1][2] Financial Summary - The Canadian properties have a current working interest production of approximately 1,850 barrels of oil equivalent per day (BOEPD) [1] - The sale price of CAD 35.0 million is equivalent to 2.7 times the trailing 12 months operational cash flow of approximately USD 9.7 million for the Canadian assets [2][10] Strategic Focus - The company aims to concentrate on its core assets that present significant drilling campaigns and growth potential, having generated CAD 82 million (USD 64 million) in operational cash flow since the acquisition of the Canadian assets [2] - The decision to sell the Canadian assets is aligned with the company's strategy to focus on high-quality assets with substantial development opportunities [2] Company Background - Vaalco Energy, Inc. is an independent energy company based in Houston, Texas, with a diverse portfolio of production, development, and exploration assets across several countries including Gabon, Egypt, Côte d'Ivoire, Equatorial Guinea, and Nigeria [3]

Core Viewpoint - Two stocks in the energy sector are showing signs of being overbought, which may concern momentum-focused investors [1]. Group 1: VAALCO Energy Inc (NYSE:EGY) - VAALCO Energy has a recent RSI value of 89.4, indicating it is overbought [2]. - The stock has gained approximately 42% over the past month, reaching a 52-week high of $5.36 [4]. - A Buy rating was initiated by Freedom Capital Markets analyst Sergey Pigarev with a price target of $7.3 [4]. - On the latest trading day, shares of VAALCO Energy rose by 5.7% to close at $5.17 [4]. - The stock has an Edge Stock Rating with a momentum score of 81.87 and a value score of 91.69 [4]. Group 2: Suncor Energy Inc (NYSE:SU) - Suncor Energy has an RSI value of 81.7, also indicating it is overbought [2]. - The stock has increased by around 21% over the past month, achieving a 52-week high of $54.80 [4]. - Goldman Sachs analyst Neil Mehta maintained a Buy rating and raised the price target from $48 to $54 [4]. - On the latest trading day, shares of Suncor Energy rose by 1.3% to close at $53.69 [4].

Core Insights - Vaalco Energy (EGY) has reported encouraging results from its first two offshore wells, indicating potential growth despite previous negative earnings comparisons [2] Company Analysis - Vaalco Energy is considered underpriced due to its negative earnings history, which has led to a perception of no growth potential [2] - The company operates in a cyclical industry characterized by boom and bust cycles, requiring patience and experience for successful investment [2] Industry Context - The oil and gas sector is highlighted as a space where undervalued companies can be found, particularly those that are under-followed or out of favor [2] - The investing group Oil & Gas Value Research focuses on identifying compelling opportunities within this sector, emphasizing the importance of community discussions among investors [2]

Core Insights - Vaalco Energy (EGY) has reported encouraging results from its first two offshore wells, indicating potential growth despite previous negative earnings comparisons [2] Company Analysis - Vaalco Energy is considered underpriced due to its negative earnings history, which has led to a lack of growth perception in the market [2] - The company operates in a cyclical industry characterized by boom and bust cycles, requiring patience and experience for successful investment [2] Investment Group Insights - The investing group Oil & Gas Value Research focuses on under-followed oil companies and out-of-favor midstream companies, identifying compelling investment opportunities [2] - The group provides an active chat room for investors to discuss recent information and share ideas related to the oil and gas sector [2]

Operational Performance - VAALCO Energy, Inc. provided an operational and financial update for 2025, highlighting production and sales volumes[5] - The company reported a successful drilling update in Gabon, indicating positive operational performance[5] Financial Stability - As of December 31, 2025, VAALCO Energy, Inc. experienced an increase in cash at bank, reflecting improved financial stability[5] - The update included a positive accounts receivables report, suggesting effective collection processes[5]

Market Overview - U.S. stock futures are mixed, with Nasdaq 100 and S&P 500 futures showing modest gains while Dow Jones futures are slightly down, indicating a cautious trading start [1] - The S&P 500 E-minis rose by 0.32%, Nasdaq 100 E-minis increased by 0.74%, and Dow E-minis saw a slight increase of 0.06% [2] - The U.S. stock market closed lower on Wednesday, with the S&P 500 Index down 0.53% to 6,926.60 points, Dow Jones Industrial Average down 0.09% to 49,149.63 points, and Nasdaq Composite Index down 1.00% to 23,471.75 points [4] Technology Sector - A strong earnings report from Taiwan Semiconductor Manufacturing Company (TSM) led to a rally in the semiconductor sector, with Applied Materials (AMAT) rising 6.2%, Lam Research (LRCX) gaining 5.4%, and KLA Corporation (KLAC) up 5% [2] - Big Tech companies like Microsoft (MSFT), Meta Platforms (META), and Amazon (AMZN) each dropped more than 2%, while Oracle (ORCL) and Broadcom (AVGO) slid 4% each [5] - Nvidia (NVDA) shares declined 1.4% due to news that China instructed domestic firms to avoid H200 purchases, reflecting a reevaluation of tech stock valuations [5] Financial Sector - Several prominent financial institutions, including Goldman Sachs (GS), Morgan Stanley (MS), and BlackRock (BLK), are set to report quarterly results, which will be closely monitored for signs of financial sector health [7] - Wells Fargo (WFC) dropped 4.6% after reporting weaker-than-expected Q4 revenue, negatively impacting other banking giants like Citigroup (C) and Bank of America (BAC), which both fell more than 3% [7] Geopolitical and Economic Factors - Geopolitical tensions are affecting market sentiment, with reports of Chinese authorities advising domestic firms to avoid U.S. and Israeli software vendors, contributing to declines in software stocks [10] - The U.S. 10-year Treasury yield increased to approximately 4.14%, while WTI crude oil futures fell to around $59.92 per barrel [3] - Upcoming economic data releases from the U.S. Labor Department on jobless claims and retail sales are expected to influence investor sentiment [6] Company Highlights - Taiwan Semiconductor Manufacturing Company (TSM) reported a 20.5% year-over-year revenue increase and a 35.0% rise in diluted earnings per share, projecting robust annual growth and plans for increased U.S. manufacturing capacity [13] - Hyundai Motor Group showcased its AI Robotics Strategy at CES 2026, earning industry recognition for its human-centered, AI-driven robotics [13] - VAALCO Energy, Inc. (EGY) provided a positive operational update, reporting strong 2025 sales volumes and a successful drilling program in Gabon and Egypt [13] - Amplifon was certified as a Global Top Employer in 2026, expanding its certification in the Asia-Pacific region [13] - ChainUp was recognized among Singapore's Top Fintech Companies 2026, highlighting its growth and reliability in the digital assets market [13]