<SEC-DOCUMENT>0000894627-16-000070.txt : 20160304
<SEC-HEADER>0000894627-16-000070.hdr.sgml : 20160304
<ACCEPTANCE-DATETIME>20160304115443
ACCESSION NUMBER:		0000894627-16-000070
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160304
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160304
DATE AS OF CHANGE:		20160304

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VAALCO ENERGY INC /DE/
		CENTRAL INDEX KEY:			0000894627
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				760274813
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32167
		FILM NUMBER:		161484160

	BUSINESS ADDRESS:	
		STREET 1:		9800 RICHMOND AVE.
		STREET 2:		SUITE 700
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77042
		BUSINESS PHONE:		713-499-1465

	MAIL ADDRESS:	
		STREET 1:		9800 RICHMOND AVE.
		STREET 2:		SUITE 700
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77042
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>egy-20160304x8k.htm
<DESCRIPTION>8-K
<TEXT>
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			8-K
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			<font style="display: inline;font-weight:bold;font-size:18pt;">UNITED STATES </font>
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			<font style="display: inline;font-weight:bold;font-size:18pt;">SECURITIES AND EXCHANGE COMMISSION </font>
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			<font style="display: inline;font-weight:bold;">Washington, D.C. 20549 </font>
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			<font style="display: inline;font-weight:bold;font-size:18pt;">FORM 8-K </font><font style="display: inline;">&nbsp;</font>
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			<font style="display: inline;font-weight:bold;">CURRENT REPORT </font>
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			<font style="display: inline;font-weight:bold;">Pursuant to Section&nbsp;13 or 15(d) </font>
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			<font style="display: inline;font-weight:bold;">of the Securities Exchange Act of 1934 </font>
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			<font style="display: inline;font-weight:bold;">Date of Report (Date of earliest event reported): </font><font style="display: inline;font-weight:bold;">March 2, 2016</font>
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			<font style="display: inline;font-weight:bold;font-size:24pt;">VAALCO Energy, Inc. </font>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">(Exact name of registrant as specified in its charter) </font>
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						<font style="display: inline;font-weight:bold;font-size:8pt;">001-32167</font></p>
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						<font style="display: inline;font-weight:bold;font-size:8pt;">76-0274813</font></p>
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						<font style="display: inline;font-weight:bold;font-size:8pt;">Identification No.)</font></p>
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						<font style="display: inline;font-weight:bold;font-size:10pt;">9800 Richmond Avenue, Suite 700</font></p>
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						<font style="display: inline;font-weight:bold;font-size:10pt;">Houston, Texas</font></p>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">Registrant&#x2019;s telephone number, including area code: (713)&nbsp;623-0801 </font>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">Not Applicable </font>
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			<font style="display: inline;font-weight:bold;font-size:8pt;">(Former Name or former address if changed since last report.) </font>
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			<font style="display: inline;font-size:10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </font>
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						<font style="display: inline;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font></p>
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						<font style="display: inline;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></p>
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						<font style="display: inline;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font></p>
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						<font style="display: inline;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font></p>
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		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt;text-align:left;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 12pt"><font style="display: inline;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">Item </font><font style="display: inline;font-weight:bold;font-size:10pt;">8.01</font><font style="display: inline;font-weight:bold;font-size:10pt;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">Other Events</font><font style="display: inline;font-weight:bold;font-size:10pt;">.</font><font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">On </font><font style="display: inline;font-size:10pt;">March 2, 2016</font><font style="display: inline;font-size:10pt;">, VAALCO Energy, Inc. (the &#x201C;Company&#x201D;) issued a press release announcing that the borrowing base under its revolving credit facility was set at $20.1 million effective December 31, 2015. The redetermination was a result of the regular semi-annual review conducted by the International Finance Corporation (</font><font style="display: inline;font-size:10pt;">the &#x201C;</font><font style="display: inline;font-size:10pt;">IFC</font><font style="display: inline;font-size:10pt;">&#x201D;</font><font style="display: inline;font-size:10pt;">), the lender under </font><font style="display: inline;font-size:10pt;">the facility</font><font style="display: inline;font-size:10pt;">.</font><font style="display: inline;font-size:10pt;">&nbsp;</font><font style="display: inline;font-size:10pt;">All covenants under the facility remain unchanged. </font>
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		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">The borrowing base is supported solely by the Company's Etame Marin producing assets in Gabon.&nbsp;&nbsp;The next scheduled redetermination date is at June 30, 2016.&nbsp;&nbsp;Currently, the Company has $15 million drawn under this facility which was also the amount drawn at December 31, 2015.&nbsp;&nbsp;The IFC communicated to the Company that if VAALCO were to seek additional drawdowns before the next redetermination, the IFC could elect, under the terms of the loan agreement, to conduct an interim redetermination which it believes would result in a borrowing base of less than $20.1 million due to commodity prices being lower than they were at December 31, 2015.</font>
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		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">A copy of the press release issued by the Company is filed herewith as Exhibit 99.1 and is incorporated herein by reference in its entirety.</font>
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			<font style="font-weight:bold;display: inline;">&nbsp;</font>
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			<font style="font-weight:bold;display: inline;font-size:10pt;">Item 9.01</font><font style="font-weight:bold;display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="font-weight:bold;display: inline;font-size:10pt;">Financial Statements and Exhibits.</font>
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			<font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;">(d)</font><font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;">Exhibits.</font>
		</p>
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					<p style="margin:0pt;line-height:normal;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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					<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;">Exhibit Number</font></p>
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					<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;">Description</font></p>
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					<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;">99</font><font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;">.1</font></p>
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					<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Press Release of VAALCO Energy, Inc. dated March 2, 2016</font></p>
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		<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 10pt"><font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">SIGNATURE</font>
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		<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&nbsp;</font>
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		<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&nbsp;</font>
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		<p style="margin:0pt 0pt 12pt;text-indent:36pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font>
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						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:4.00pt;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:4.00pt;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:4.00pt;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
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					<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&nbsp;</font></p>
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				<td colspan="3" valign="top" style="width:50.92%;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;font-size:10pt;">VAALCO Energy, Inc.</font></p>
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					<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">(Registrant)</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&nbsp;</font></p>
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						<font style="display: inline;">&nbsp;</font></p>
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						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&nbsp;Date: </font><font style="display: inline;font-size:10pt;">March 4, 2016</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">By:</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">/s/ Eric J. Christ</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
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					<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&nbsp;</font></p>
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				<td colspan="3" valign="top" style="width:50.92%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 17.8pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Eric J. Christ</font></p>
					<p style="margin:0pt 0pt 0pt 17.8pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Vice President, General Counsel and Corporate Secretary </font></p>
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					<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
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			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 12pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 12pt"><font style="display: inline;"></font><font style="display: inline;font-size:10pt;">Exhibit Index</font>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">4</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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					<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;">Exhibit Number</font></p>
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					<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;">Description</font></p>
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					<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;">99</font><font style="font-weight:bold;display: inline;font-weight:normal;font-size:10pt;">.1</font></p>
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					<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Press Release of VAALCO Energy, Inc. dated March 2, 2016</font></p>
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			<font style="display: inline;">&nbsp;</font>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>egy-20160304ex99185d736.htm
<DESCRIPTION>EX-99.1
<TEXT>
<!--HTML document created with Certent Powered by Crossfire 5.17.1.24-->
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		<title>
			Exhibit 99.12
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			<a name="_GoBack"></a><font style="display: inline;font-weight:bold;"><img src="egy-20160304ex99185d736g001.jpg" style="width: 0.8736111in; height: 0.8736111in" alt="Picture 2"></font>
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			<font style="display: inline;font-family:Times;font-weight:bold;font-size:13pt;text-decoration:underline;">VAALCO ENERGY ANNOUNCES RESULTS OF ITS SEMI-ANNUAL BORROWING BASE REDETERMINATION</font>
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		<p style="margin:5pt 0pt;background-color: #FFFFFF;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 13pt">
			<font style="display: inline;font-family:Times;font-weight:bold;font-size:13pt;">HOUSTON, March </font><font style="display: inline;font-family:Times;font-weight:bold;font-size:13pt;">2</font><font style="display: inline;font-family:Times;font-weight:bold;font-size:13pt;">, 2016</font><font style="display: inline;font-family:Times;font-weight:bold;font-size:13pt;">&nbsp;</font><font style="display: inline;font-family:Times;font-weight:bold;font-size:13pt;">--</font><font style="display: inline;font-family:Times;font-size:13pt;">&nbsp;VAALCO Energy, Inc.</font><font style="display: inline;font-family:Times;font-size:13pt;">&nbsp;</font><font style="display: inline;font-family:Times;font-size:13pt;">(NYSE: EGY) </font><font style="display: inline;font-family:Times;font-size:13pt;">(&#x201C;VAALCO&#x201D; or &#x201C;the Company&#x201D;) </font><font style="display: inline;font-family:Times;font-size:13pt;">announced today that the borrowing base under its revolving credit facility was </font><font style="display: inline;font-family:Times;font-size:13pt;">set at $20.1</font><font style="display: inline;font-family:Times;font-size:13pt;"> million</font><font style="display: inline;font-family:Times;font-size:13pt;"> effective </font><font style="display: inline;font-family:Times;font-size:13pt;">December 31, 2015</font><font style="display: inline;font-family:Times;font-size:13pt;">.</font><font style="display: inline;font-family:Times;font-size:13pt;"> The redetermination was a result of the regular semi-annual review conducted by the International Finance Corporation (IFC), the lender under the facility.&nbsp; </font><font style="display: inline;font-family:Times;font-size:13pt;">All</font><font style="display: inline;font-family:Times;font-size:13pt;"> covenants under the facility remain unchanged. </font>
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		<p style="margin:5pt 0pt;background-color: #FFFFFF;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 13pt">
			<font style="display: inline;font-family:Times;font-size:13pt;">The borrowing base is supported solely by the Company's Etame Marin producing assets in Gabon.&nbsp; The next scheduled redetermination date is </font><font style="display: inline;font-family:Times;font-size:13pt;">at </font><font style="display: inline;font-family:Times;font-size:13pt;">June </font><font style="display: inline;font-family:Times;font-size:13pt;">30, </font><font style="display: inline;font-family:Times;font-size:13pt;">2016.&nbsp; Currently, the Company has $15 million drawn under this facility which was also the amount drawn at </font><font style="display: inline;font-family:Times;font-size:13pt;">December 31, 2015.</font><font style="display: inline;font-family:Times;font-size:13pt;">&nbsp;</font><font style="display: inline;font-family:Times;font-size:13pt;"> The IFC communicated to the </font><font style="display: inline;font-family:Times;font-size:13pt;">C</font><font style="display: inline;font-family:Times;font-size:13pt;">ompany that if </font><font style="display: inline;font-family:Times;font-size:13pt;">VAALCO</font><font style="display: inline;font-family:Times;font-size:13pt;"> were to seek additional drawdowns before the next redetermination</font><font style="display: inline;font-family:Times;font-size:13pt;">,</font><font style="display: inline;font-family:Times;font-size:13pt;"> the</font><font style="display: inline;font-family:Times;font-size:13pt;"> IFC</font><font style="display: inline;font-family:Times;font-size:13pt;"> could elect, under the </font><font style="display: inline;font-family:Times;font-size:13pt;">terms of the </font><font style="display: inline;font-family:Times;font-size:13pt;">l</font><font style="display: inline;font-family:Times;font-size:13pt;">oan </font><font style="display: inline;font-family:Times;font-size:13pt;">a</font><font style="display: inline;font-family:Times;font-size:13pt;">greement, to </font><font style="display: inline;font-family:Times;font-size:13pt;">conduct</font><font style="display: inline;font-family:Times;font-size:13pt;">&nbsp;</font><font style="display: inline;font-family:Times;font-size:13pt;">an interim redetermination </font><font style="display: inline;font-family:Times;font-size:13pt;">which it believes</font><font style="display: inline;font-family:Times;font-size:13pt;">&nbsp;</font><font style="display: inline;font-family:Times;font-size:13pt;">would result in a</font><font style="display: inline;font-family:Times;font-size:13pt;">&nbsp;</font><font style="display: inline;font-family:Times;font-size:13pt;">borrowing base </font><font style="display: inline;font-family:Times;font-size:13pt;">of less</font><font style="display: inline;font-family:Times;font-size:13pt;"> than $20.1 million due to commodity prices being lower today than they were at </font><font style="display: inline;font-family:Times;font-size:13pt;">December 31, 2015.</font>
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			<font style="display: inline;font-family:Times;font-size:13pt;">Steve Guidry, VAALCO's C</font><font style="display: inline;font-family:Times;font-size:13pt;">hief Executive Officer</font><font style="display: inline;font-family:Times;font-size:13pt;">,</font><font style="display: inline;font-family:Times;font-size:13pt;">&nbsp;</font><font style="display: inline;font-family:Times;font-size:13pt;">commented, </font><font style="display: inline;font-family:Times;font-size:13pt;">&#x201C;</font><font style="display: inline;font-family:Times;font-size:13pt;">The significant downturn in oil prices was the primary reason that the IFC decided to lower our borrowing base. We are actively exploring a variety of&nbsp;options to supplement VAALCO&#x2019;s potential liquidity needs in conjunction with our strategic alternatives review process</font><font style="display: inline;font-family:Times;font-size:13pt;"> announced January 26, 2016</font><font style="display: inline;font-family:Times;font-size:13pt;">.</font><font style="display: inline;font-family:Times;font-size:13pt;">&#x201D;</font>
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		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 13pt">
			<font style="display: inline;font-family:Times;font-weight:bold;font-size:13pt;">About VAALCO</font>
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		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 13pt">
			<font style="display: inline;font-family:Times;font-size:13pt;">VAALCO Energy, Inc. is a Houston</font><font style="display: inline;font-family:Times;font-size:13pt;">-</font><font style="display: inline;font-family:Times;font-size:13pt;">based independent energy company principally engaged in the acquisition, exploration, development and production of crude oil. The Company's properties and exploration acreage are located primarily in Gabon, Angola and Equatorial Guinea in West Africa.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;font-size: 13pt">
			<font style="display: inline;font-family:Times;font-size:13pt;">This news release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, </font><font style="display: inline;font-family:Times;font-size:13pt;">which</font><font style="display: inline;font-family:Times;font-size:13pt;"> are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those concerning VAALCO's plans, expectations, and objectives for future drilling, completion and other operations and activities, including statements relating to a potential strategic alternative transaction, or the terms, timing or </font>
		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 10pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Calibri;;font-size: 13pt"><font style="display: inline;font-family:Times;font-size:13pt;">structure of any such transactions (or whether any such transaction will take place at all) and VAALCO&#x2019;s future performance if any such transaction is completed. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that VAALCO expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements include expected capital expenditures, future drilling plans, prospect evaluations, liquidity, negotiations with governments and third parties, expectations regarding processing facilities, and reserve growth. These statements are based on assumptions made by VAALCO based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond VAALCO's control. These risks include, but are not limited to, oil and gas price volatility, inflation, general economic conditions, the Company's success in discovering, developing and producing reserves, lack of availability of goods, services and capital, environmental risks, drilling risks, foreign operational risks, and regulatory changes. These and other risks are further described in VAALCO's annual report on Form 10-K for the year ended December 31, 2014, subsequent quarterly reports on Form 10-Q, and other reports filed with the SEC, which can be reviewed at http://www.sec.gov, or which can be received by contacting VAALCO at 9800 Richmond Avenue, Suite 700, Houston, Texas 77042, (713) 623-0801. Investors are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. VAALCO disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. VAALCO assumes no obligation to update any forward-looking statement as of any future date.</font><font style="display: inline;font-family:Times;font-size:13pt;">&nbsp;</font>
		</p>
		<p style="margin:5pt 0pt;background-color: #FFFFFF;line-height:100%;font-family:Calibri;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-size:9pt;">Investor Contacts</font>
		</p>
		<p style="margin:5pt 0pt;background-color: #FFFFFF;line-height:100%;font-family:Calibri;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-size:9pt;">Don McCormack</font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;">A</font><font style="display: inline;font-family:Arial;font-size:9pt;">l Petrie</font>
		</p>
		<p style="margin:5pt 0pt;background-color: #FFFFFF;line-height:100%;font-family:Calibri;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-size:9pt;">Chief Financial Officer</font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;">Investor Relations Coordinator</font>
		</p>
		<p style="margin:5pt 0pt;background-color: #FFFFFF;line-height:100%;font-family:Calibri;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-size:9pt;">713-212-1038</font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;;font-size: 9pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;"></font><font style="display: inline;font-family:Arial;font-size:9pt;">713-543-3422</font>
		</p>
		<p style="margin:5pt 0pt;background-color: #FFFFFF;line-height:100%;font-family:Calibri;font-size: 9pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr>
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