18th Nov 2020 19:31
Vaalco Energy Inc - hydrocarbon exploration company - Agrees to acquire 28% working interest in the Etame Marin block, offshore Gabon from Sasol Ltd for USD44 million. This will increase Vaalco's total working interest to 59% from 31%.
In addition, the acquisition will double Vaalco's total net production and reserves, by increasing net revenue interest output to 9,150 barrels of oil per day from 4,850 bopd, and year-end 2019 SEC reserves to 9.4 million barrels of oil from 5.0 million barrels.
Current stock price: 100.00 pence
Year-to-date change: down 32%
By Dayo Laniyan; [email protected]
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