Operations and Interests - The company holds a 58.8% working interest in the Etame Marin block offshore Gabon, which is subject to a 7.5% back-in carried interest by the government, increasing to 10% in June 2026[47]. - In Egypt, the company has a 100% working interest in two PSCs covering approximately 52,407 acres, with a merged concession agreement that includes a $15 million modernization payment and a $1 million signature bonus[51]. - The Merged Concession in the Eastern Desert has a primary term of 15 years and includes minimum financial work commitments of $50 million for each five-year period[51]. - The company increased its working interest in Block P offshore Equatorial Guinea to 60% after acquiring an additional 14.1% interest in February 2023[65]. - The production sharing contract for Block P provides a development and production period of 25 years from the approval date of the development plan[64]. - The Harmattan property in Canada covers 46,100 gross acres of developed land and 29,300 gross acres of undeveloped land, producing oil and associated natural gas[59]. Financial Performance - The cumulative effective date adjustment from the Merged Concession Agreement in Egypt is estimated at $67.5 million, with $17.2 million already received[51]. - The average price for crude oil reserves in Gabon was $100.35 per Bbl in 2022, up from $69.10 per Bbl in 2021, reflecting a 45% increase[72][77]. - Total proved reserves as of December 31, 2022, are 27,957 MBoe, with 22,403 MBbls of crude oil, 16,539 MMcf of natural gas, and 2,797 MBbls of NGLs[75]. - The standardized measure of discounted future net cash flows increased to $624,465 thousand in 2022 from $99,258 thousand in 2021[79]. - The company incurred approximately $148 million in costs for the 2021/2022 drilling program, netting about $94 million to its participating interest[83]. - In 2022, net sales volumes included 3,559 MBbl of crude oil, 335 MMcf of natural gas, and 63 MBbl of NGLs, with an average sales price of $97.24 per barrel for crude oil and $4.00 per Mcf for natural gas[88]. - The production cost per barrel of oil equivalent (BoE) was $30.12 in 2022, compared to $29.97 in 2021 and $22.93 in 2020, indicating an increase in production costs over the years[88]. - A $5 per barrel decrease in crude oil price could lead to a $18.4 million decrease in annual revenues and operating income, and a $16.5 million decrease in net income[441]. Workforce and Diversity - As of December 31, 2022, the company had 185 full-time employees, with 90 in Gabon, 30 in Egypt, 21 in Canada, and 44 in Houston, along with 73 contractors across these locations[94]. - Approximately 16% of the management team are female employees, and 93.3% of the Gabon workforce is Gabonese, reflecting the company's commitment to diversity and inclusion[95]. Regulatory Environment - The company’s operations are subject to regulatory changes in the countries it operates, which can increase costs and affect operations, particularly in Gabon[105]. - The 2019 Hydrocarbons Law repealed the 2014 Hydrocarbons Law entirely and includes provisions for both upstream and downstream segments[112]. - Existing Production Sharing Contracts (PSCs) and other petroleum contracts remain effective until expiration, but renewals are subject to the 2019 Hydrocarbons Law[113]. - The 2019 Hydrocarbons Law mandates that foreign producers must operate through a company incorporated in Gabon, not through branches of foreign entities[114]. - The Gabon Oil Company is entitled to acquire a maximum 15% stake at market value in all PSCs as of the date of signature[116]. - The State of Gabon may acquire an equity stake of up to 10% at market value in operators holding exclusive development and production authorizations[116]. - The Alberta Energy Regulator (AER) requires regulatory approval for all oil and natural gas projects in Alberta, including environmental impact assessments[121]. - The Greenhouse Gas Pollution Pricing Act (GGPPA) mandates emission reductions for oil and gas producers, with Alberta's TIER regulation strengthening facility-specific benchmarks[122]. Risk Management - The company maintains insurance coverage for various operational hazards, but is not fully insured against all risks, which could adversely affect its financial position[104]. - The company is exposed to market risks from fluctuations in foreign exchange rates and commodity prices, which could materially affect its financial condition[436]. - The Hydrocarbons Law allows the Appointed EG Petroleum Ministry to suspend operations if deemed necessary for safety or environmental protection[135]. - The company does not utilize derivative instruments to manage foreign exchange risk, maintaining nominal balances in British Pounds Sterling[440]. Debt and Financing - As of December 31, 2022, the company had a zero balance on its Facility[443]. - Loans under the Facility will incur interest at LIBOR plus an Applicable Margin of 6.00% until the third anniversary of the Facility Agreement[443]. - After the third anniversary, the Applicable Margin will increase to 6.25% until the Final Maturity Date[443]. - Increases in interest rates could adversely impact the company's results of operations and cash flows[443].

VAALCO Energy, Inc. (NYSE:EGY) Q3 2022 Earnings Conference Call November 9, 2022 11:00 AM ET Company Participants Al Petrie - Investor Relations Coordinator George Maxwell - Chief Executive Officer Ron Bain - Chief Financial Officer Conference Call Participants John White - ROTH Capital Stephane Foucaud - Auctus Advisors Charlie Sharp - Canaccord Bill Dezellem - Tieton Capital Jamie Wilen - Wilen Management Operator Good morning and welcome to the VAALCO Energy Third Quarter 2022 Conference Call. All partic ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 1-32167 VAALCO Energy, Inc. (Exact name of registrant as specified in its charter) Delaware 76-02 ...

VAALCO Energy, Inc. (NYSE:EGY) Q2 2022 Earnings Conference Call August 11, 2022 10:00 AM ET Company Participants Al Petrie - IR, George Maxwell - CEO Ron Bain - CFO Conference Call Participants William Dezellem - Tieton Capital Operator Good day, and welcome to the VAALCO Energy Second Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. Please note this event is being recorded. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ | --- | --- | --- | |---------------------------------------------------|---------------------------------------------------- ...

VAALCO Energy, Inc. (NYSE:EGY) Q1 2022 Results Conference Call May 4, 2022 10:00 AM ET Company Participants Al Petrie - IR George Maxwell - CEO Ron Bain - CFO Conference Call Participants John White - ROTH Capital Charlie Sharp - Canaccord Stephane Foucaud - Auctus Jamie Willin - Willin Management Kenneth Pounds - Castlebury Advisory Richard Dearnley - Longport Partners Robert Carlson - Janney Operator Good morning, and welcome to the VAALCO Energy First Quarter 2022 Earnings Conference Call. [Operator Inst ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________ FORM 10-Q ________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 1-32167 ___________________________ ...

VAALCO Energy, Inc. (NYSE:EGY) Q4 2021 Earnings Conference Call March 10, 2022 10:00 AM ET Company Participants Al Petrie - Investor Relations Coordinator George Maxwell - Chief Executive Officer and Director Ron Bain - Chief Financial Officer Conference Call Participants John White - ROTH Capital Partners Charlie Sharp - Canaccord Genuity Ltd Stephane Foucaud - Auctus Advisor Kenneth Pounds - Castleberry Richard Dearnley - Longport Partners Operator Good day, and welcome to the VAALCO Energy Year End 2021 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________ FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-32167 ____________________________________________________ VAALCO Energy, Inc. (E ...

VAALCO Energy, Inc. (NYSE:EGY) Q3 2021 Earnings Conference Call November 4, 2021 10:00 AM ET Company Participants Al Petrie - Investor Relations Coordinator George Maxwell - Chief Executive Officer Ron Bain - Chief Financial Officer Conference Call Participants John White - ROTH Capital Charlie Sharp - Canaccord Matt Dhane - Tieton Capital Management James Wilen - Wilen Management Operator Hello, and welcome to the VAALCO Energy Third Quarter Earnings Conference Call. All participants will be in listen-only ...