Interested parties in the United States may participate toll-free by dialing (833) 685-0907. Interested parties in the United Kingdom may participate toll-free by dialing 08082389064. Other international parties may dial (412) 317-5741. Participants should ask to be joined to the "VAALCO Energy Second Quarter 2024 Conference Call." This call will also be webcast on VAALCO's website at www.vaalco.com. An audio replay will be available on the Company's website following the call. For Further Information The C ...

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment. While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. ...

In contrast, Oneok Inc. falls under the Oil and Gas - Production Pipeline - MLB industry. Currently, this industry has 6 stocks and is ranked #19. Since the beginning of the year, the industry has moved +16.6%. Vaalco Energy and Oneok Inc. could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks. Over the past 90 days, the Zacks Consensus Estimate for EGY's full-year earnings has moved 135% higher. This means that analyst se ...

In the time that Vaalco Energy (NYSE:EGY) has had since the acquisition with TransGlobe Energy back in fiscal year 2022, this management has done a lot in roughly one and one half years with that acquisition. Management also closed on the Svenska acquisition since then as well. Not only is production increasing as a result of these activities, but the company has also maintained a debt-free balance sheet with a sizable cash balance throughout the whole time. With some sizable projects on the horizon, manage ...

Updated SEC net proved reserves as of December 31, 2023 of 16.9 million barrels of oil equivalent ("MMBOE") (93% oil), significantly higher than previous 1P working interest ("WI") CPR reserves of 13.0 MMBOE (99% oil) as of October 1, 2023; Increased 2P WI CPR reserves as of December 31, 2023 to 22.5 MMBOE (93% oil) from 21.7 MMBOE (97% oil) estimate; and Significant further upside identified from contingent resources at the Baobab field with Best Estimate Working Interest Contingent Resources ("2C") of 20. ...

Core Insights - VAALCO Energy, Inc. has successfully calculated its proved reserves for the acquisition of Svenska Petroleum Exploration AB, revealing higher reserves than initially disclosed, which enhances its strategic position in West Africa [2][9] - The acquisition includes significant producing assets in Côte d'Ivoire, with substantial future development opportunities, and was funded entirely by cash on hand without incurring debt or equity issuance [10][19] Reserves and Financial Metrics - As of December 31, 2023, VAALCO's SEC net proved reserves are reported at 16.9 million barrels of oil equivalent (MMBOE), which is a significant increase from the previously reported 1P working interest (WI) CPR reserves of 13.0 MMBOE as of October 1, 2023 [9][19] - The total 2P WI CPR reserves as of December 31, 2023, have increased to 22.5 MMBOE from 21.7 MMBOE, with a discounted value of future cash flows from these reserves totaling $240.9 million [11][19] - The acquisition price of $40.2 million translates to approximately $2.37 per net proved barrel of reserves, indicating a cost-effective acquisition strategy [19] Contingent Resources - The independent engineer's report identifies contingent resources at the Baobab field, estimating a best estimate working interest contingent resources (2C) of 20.4 MMBOE, which could potentially be reclassified as reserves if development plans are approved [9][11][6] - The report emphasizes that the contingent resources are subject to uncertainties and may not be realized as expected, highlighting the importance of addressing development contingencies [6][19] Pricing Assumptions - The pricing assumptions for the reserves calculations include $79.79 per barrel of oil for 2024, $69.79 for 2025, with a 2% inflation rate thereafter, which contrasts with the SEC's flat pricing methodology [11][24] - The BOE conversion ratios used for the reserves estimates differ, with a ratio of 5,800 cubic feet of natural gas to one barrel of oil equivalent applied for the December 31, 2023 estimates [7][11]

Core Viewpoint - VAALCO Energy, Inc. has reported significant increases in its proved and probable reserves following the acquisition of Svenska Petroleum Exploration AB, indicating strong growth potential and strategic expansion in West Africa [6][7][8]. Reserves and Resources - As of December 31, 2023, VAALCO's SEC net proved reserves totaled 16.9 million barrels of oil equivalent (MMBOE), a notable increase from the previous 1P working interest (WI) CPR reserves of 13.0 MMBOE as of October 1, 2023 [6][8]. - The 2P WI CPR reserves increased to 22.5 MMBOE from 21.7 MMBOE, reflecting a 3.7% growth [6][14]. - The contingent resources at the Baobab field are estimated at 20.4 MMBOE, indicating further upside potential [6][14]. Acquisition Details - VAALCO completed the acquisition of Svenska on April 30, 2024, for a net purchase price of $40.2 million, fully funded by cash on hand [7][9]. - The acquisition includes a 27.39% non-operated working interest in the deepwater producing Baobab field offshore Côte d'Ivoire, which is expected to provide considerable future development opportunities [7][9]. Financial Metrics - The Standardized Measure of the proved reserves as of December 31, 2023, is valued at $107.1 million, with a pro-forma total of 45.6 MMBOE, representing a 59% increase from the previously reported 28.6 MMBOE [8][9]. - VAALCO's cost per net proved barrel of reserves is approximately $2.37, calculated based on the net cash purchase price [8][9]. Management Commentary - The CEO of VAALCO expressed satisfaction with the reserve calculations, highlighting the strategic nature of the acquisition and its potential to enhance shareholder value [7].

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These three penny stocks have performed tremendously in the past couple of weeks and, for keen analysts, are poised to outperform market expectations. The performance of these penny stocks is favored by the prevailing market, political, technological and economic conditions that guarantee their upward movement in the foreseeable future. VAALCO Energy (EGY) The company has ramped up its production since 2022, witnessing a YOY growth of 20% in 2023 and reporting a revenue jump of 25% in its most recent quarte ...

Though risky, there are certainly plenty of penny stocks to buy that have the potential to significantly boost portfolio returns. Of course, patience and a growth-friendly market are required for the kind of major upside most growth investors are looking for over a five year time frame. But it's precisely these companies' volatility and upside potential that many seek out, in the higher-risk portion of portfolios. Source: GrAl / Shutterstock.com VAALCO Energy (EGY) Over the past month, the stock declined ap ...