9th Jun 2026 11:32
Vaalco Energy Inc - Canada and Africa-focused hydrocarbon explorer - Announces successful resumption at its Baobab field on the CI-40 block offshore Ivory Coast, after a nine-month refurbishment of the Baobab Ivoirien floating production storage & offloading vessel in Dubai. Chief Executive Officer George Maxwell says: "We are excited that the Baobab field on the CI-40 block offshore [Ivory Coast] has restarted production in line with our projected timeline. We have the CI-40 block license extended through 2038 and believe that there is significant development drilling upside at Baobab. In early 2024, we had no assets in [Ivory Coast] and now we have developed a strong position with development and exploration potential. 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 impactful. 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."
Current stock price: 415.00 pence each, up 2.5% on Tuesday morning in London
12-month change: up 63%
By Tom Budszus, Alliance News slot editor
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