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VAALCO Energy, Inc. Announces Côte D'Ivoire Block CI-705 Update

EGY
  • Vaalco Energy completed the First Exploration Phase work commitments & received government approval to proceed to the Second Exploration Phase at Block CI-705 offshore Côte d'Ivoire.
  • In March 2025, Vaalco acquired a 70% working interest & became the operator of the CI-705 block, located approximately 70 kilometers west of the Baobab & Kossipo fields.
  • The First Exploration Phase involved the evaluation & interpretation of existing seismic & well data.
  • The Second Exploration Phase commitment includes further seismic reprocessing, relinquishing 25% of the exploration block, & drilling an exploration well by the end of 2028.
  • CEO George Maxwell cited encouraging prospectivity based on structural & stratigraphic traps in the Upper Cretaceous & Albian sections, validated by recent nearby discoveries.
  • Vaalco is an African-focused independent energy company with assets in Gabon, Egypt, Côte d'Ivoire, & Equatorial Guinea, headquartered in Houston.
  • The company is listed on the New York Stock Exchange & the London Stock Exchange under the symbol EGY.
  • The press release contains forward-looking statements regarding future exploration, production, & financial performance subject to risks & uncertainties.
  • The announcement includes inside information as defined under Regulation (EU) No. 596/2014, arranged by Corporate Secretary Matthew Powers.
Company
VAALCO Energy, Inc.
Keywords
NYSE:EGY, VAALCO Energy, Inc.