HOUSTON, April 21, 2026 (GLOBE NEWSWIRE) — VAALCO Power, Inc. (NYSE: EGY, LSE: EGY) (“Vaalco” or the “Company”) introduced certain operational updates in Gabon in regards to the ongoing drilling program, together with encouraging preliminary smartly effects at the Etame 14H smartly and mobilized the rig to the Ebouri platform. Moreover, the Corporate equipped updates at the timing of bringing the Baobab box in CI-40 block, offshore Côte d’Ivoire again on-line.
Operational Highlights:
Effectively drilled, finished and put on manufacturing the Etame 14H construction smartly in an attic place inside the Major Fault Block of the Etame box, with a lateral of 325 meters of web pay in high quality Gamba sands; Completed superb preliminary waft charge of roughly 4,850 gross barrels of oil in step with day (“BOPD”), 2,850 BOPD web to Vaalco;Encountered 325 meters of web pay in high quality Gamba reservoir sands with better-than-expected porosity and permeability; Persevered the drilling marketing campaign in offshore Gabon, with the rig mobilization to the Ebouri platform and drilling has commenced at the EEBOM-5H construction smartly; Concentrated on an updip/attic place for the EEBOM-5H smartly through sidetracking from the up to now deserted EEBOM-5P smartly; and Baobab Ivorien Floating Manufacturing Garage and Offloading Vessel (“FPSO”) has finished its 47-day tow from the Dry Dock Global shipyard in Dubai, the place it underwent a whole refurbishment, and arrived again in Côte d’Ivoire on April 2. The FPSO is now totally moored again on its authentic location and is starting the method of reconnecting the risers and umbilicals. Restart of manufacturing stays on the right track for Q2 2026.
George Maxwell, Vaalco’s Leader Government Officer, commented, “We continue to see positive results from our Gabon drilling campaign. The Etame 14H development well encountered 325 meters of net pay in high-quality Gamba sands in an attic position within the Main Fault Block at Etame. We are very pleased with the initial well rates of around 4,850 gross BOPD, or 2,850 net BOPD and are excited to add this new production. We have mobilized the rig to the Ebouri platform where we are drilling a development well and plan to workover two other wells. Our goal is to continue to successfully add production and reserves with the remainder of our Gabon drilling campaign. At Côte d’Ivoire, we have the Baobab FPSO on location and is in the process of reinstallation and forecast that restarting production from the Baobab field is on track for the end of Q2 2026. We are at a critical junction, with successes in the Gabon drilling campaign and the Baobab field returning to production, and we believe that the remainder of 2026 will be very profitable. We remain focused on execution and driving meaningful growth through our organic capital programs that we believe will translate into value for our shareholders in 2026 and beyond.”
About Vaalco
Vaalco, based in 1985 and integrated underneath the rules of Delaware, is a Houston, Texas, USA primarily based, unbiased power corporate with a various portfolio of manufacturing, construction and exploration belongings throughout Gabon, Egypt, Côte d’Ivoire, Equatorial Guinea, and Nigeria.
Vaalco’s Criminal Entity Identifier (LEI) is 549300CFHFVIWB8M6T24.
For Additional Knowledge
Vaalco Power, Inc. (Basic and Investor Enquiries)+00 1 713 543 3422Website:www.vaalco.com Al Petrie Advisors (US Investor Members of the family)+00 1 713 543 3422Al Petrie / Chris Delange Burson Buchanan (UK Monetary PR)+44 (0) 207 466 5000Barry ArcherVAALCO@buchanan.united kingdom.com
Ahead Having a look Statements
Knowledge on this press unencumber comprises “forward-looking statements” inside the which means of Segment 27A of the Securities Act of 1933, as amended and Segment 21E of the Securities Alternate Act of 1934, as amended, which might be supposed to be coated through the protected harbors created through the ones rules and different acceptable rules and “forward-looking information” inside the which means of acceptable Canadian securities rules (jointly, “forward-looking statements”). The place a forward-looking observation expresses or implies an expectation or trust as to long term occasions or effects, such expectation or trust is expressed in just right religion and believed to have an inexpensive foundation. All statements as opposed to statements of ancient truth could also be forward-looking statements. The phrases “anticipate,” “believe,” “estimate,” “expect,” “intend,” “forecast,” “outlook,” “aim,” “target,” “will,” “could,” “should,” “may,” “likely,” “plan” and “probably” or equivalent phrases would possibly establish forward-looking statements, however the absence of those phrases does now not imply {that a} observation isn’t forward-looking. Ahead-looking statements would possibly come with, however don’t seem to be restricted to, statements when it comes to (i) estimates of long term drilling, manufacturing, gross sales and prices of obtaining crude oil, herbal gasoline and herbal gasoline liquids; (ii) expectancies relating to long term exploration and the advance, expansion and doable of Vaalco’s operations, mission pipeline and investments, and time table and expected advantages to be derived therefrom; (iii) expectancies relating to long term acquisitions, investments or divestitures; (iv) expectancies of long term dividends; (v) expectancies of long term stability sheet energy; and (vi) expectancies of long term fairness and endeavor worth.
Such forward-looking statements are topic to dangers, uncertainties and different components, which might reason precise effects to range materially from long term effects expressed, projected or implied through the forward-looking statements. Those dangers and uncertainties come with, however don’t seem to be restricted to: dangers when it comes to any unexpected liabilities of Vaalco; the facility to generate money flows that, at the side of money readily available, will probably be enough to fortify operations and money necessities; dangers when it comes to the timing and prices crowning glory for scheduled upkeep of the FPSO servicing the Baobab box; and the hazards described underneath the caption “Risk Factors” in Vaalco’s most up-to-date Annual Document on Shape 10-Okay and next Quarterly Studies on Shape 10-Q filed with the SEC.
Any forward-looking observation made through Vaalco, on this press unencumber, is primarily based simplest on knowledge these days to be had to Vaalco and speaks simplest as of the date on which it’s made. Apart from as could also be required through acceptable securities rules, Vaalco undertakes no legal responsibility to publicly replace any forward-looking observation, whether or not written or oral, that can be made now and again, whether or not on account of new knowledge, long term tendencies or another way.
Within Knowledge
This announcement incorporates within knowledge as outlined in Legislation (EU) No. 596/2014 on marketplace abuse which is a part of UK home regulation through distinctive feature of the Ecu Union (Withdrawal) Act 2018 (“MAR”) and is made in response to the Corporate’s tasks underneath article 17 of MAR. The individual accountable for arranging the discharge of this announcement on behalf of Vaalco is Matthew Powers, Company Secretary of Vaalco.
