VAALCO Energy, Inc. Announces Positive Operational Update – VAALCO Energy (NYSE:EGY)

HOUSTON, April 21, 2026 (WORLD NEWSWIRE)– VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY)) (” Vaalco” or the “Business”) revealed favorable functional updates in Gabon concerning the continuous drilling program, consisting of motivating preliminary well results on the Etame 14H well and activated the rig to the Ebouri platform. In addition, the Business supplied updates on the timing of bringing the Baobab field in CI-40 block, overseas Côte d’Ivoire back online.

• Effectively drilled, finished and put on production the Etame 14H advancement well in an attic position within the Main Fault Block of the Etame field, with a lateral of 325 meters of take-home pay in premium Gamba sands;
  • Attained exceptional preliminary circulation rate of around 4,850 gross barrels of oil daily (” BOPD”), 2,850 BOPD internet to Vaalco;
  • Experienced 325 meters of take-home pay in premium Gamba tank sands with better-than-expected porosity and permeability;
• Continued the drilling project in overseas Gabon, with the rig mobilization to the Ebouri platform and drilling has actually begun on the EEBOM-5H advancement well;
  • Targeting an updip/attic position for the EEBOM-5H well by sidetracking from the formerly deserted EEBOM-5P well; and

• Baobab Ivorien Drifting Production Storage and Unloading Vessel (” FPSO”) has actually finished its 47-day tow from the Dry Dock World shipyard in Dubai, where it went through a total repair, and got here back in Côte d’Ivoire on April 2. The FPSO is now totally moored back on its initial area and is starting the procedure of reconnecting the risers and umbilicals. Reboot of production stays on track for Q2 2026.

George Maxwell, Vaalco’s President, commented, “We continue to see favorable arise from our Gabon drilling project. The Etame 14H advancement well experienced 325 meters of take-home pay in premium Gamba sands in an attic position within the Main Fault Block at Etame. We are really happy with the preliminary well rates of around 4,850 gross BOPD, or 2,850 net BOPD and are thrilled to include this brand-new production. We have actually activated the rig to the Ebouri platform where we are drilling an advancement well and strategy to workover 2 other wells. Our objective is to continue to effectively include production and reserves with the rest of our Gabon drilling project. At Côte d’Ivoire, we have the Baobab FPSO on area and remains in the procedure of reinstallation and projection that rebooting production from the Baobab field is on track for completion of Q2 2026. We are at an important junction, with successes in the Gabon drilling project and the Baobab field going back to production, and our company believe that the rest of 2026 will be really lucrative. We stay concentrated on execution and driving significant development through our natural capital programs that our company believe will equate into worth for our investors in 2026 and beyond.”

Details in this news release consists of “positive declarations” within the significance of Area 27A of the Securities Act of 1933, as changed and Area 21E of the Securities Exchange Act of 1934, as changed, which are planned to be covered by the safe harbors produced by those laws and other appropriate laws and “positive details” within the significance of appropriate Canadian securities laws (jointly, “positive declarations”). Where a positive declaration reveals or suggests an expectation or belief regarding future occasions or outcomes, such expectation or belief is revealed in excellent faith and thought to have a sensible basis. All declarations aside from declarations of historic reality might be positive declarations. The words “expect,” “think,” “quote,” “anticipate,” “mean,” “projection,” “outlook,” “objective,” “target,” “will,” “could,” “should,” “may,” “likely,” “strategy” and “most likely” or comparable words might determine positive declarations, however the lack of these words does not imply that a declaration is not positive. Positive declarations might consist of, however are not restricted to, declarations associating with (i) quotes of future drilling, production, sales and expenses of getting petroleum, gas and gas liquids; (ii) expectations concerning future expedition and the advancement, development and capacity of Vaalco’s operations, job pipeline and financial investments, and schedule and prepared for advantages to be obtained therefrom; (iii) expectations concerning future acquisitions, financial investments or divestitures; (iv) expectations of future dividends; (v) expectations of future balance sheet strength; and (vi) expectations of future equity and business worth.

Such positive declarations go through dangers, unpredictabilities and other elements, which might trigger real outcomes to vary materially from future outcomes revealed, forecasted or indicated by the positive declarations. These dangers and unpredictabilities consist of, however are not restricted to: dangers associating with any unanticipated liabilities of Vaalco; the capability to produce money streams that, in addition to money on hand, will suffice to support operations and money requirements; dangers associating with the timing and expenses of conclusion for set up upkeep of the FPSO servicing the Baobab field; and the dangers explained under the caption “Threat Aspects” in Vaalco’s latest Yearly Report on Type 10-K and subsequent Quarterly Reports on Type 10-Q submitted with the SEC.

Any positive declaration made by Vaalco, in this news release, is based just on details presently offered to Vaalco and speaks just since the date on which it is made. Other than as might be needed by appropriate securities laws, Vaalco carries out no responsibility to openly upgrade any positive declaration, whether composed or oral, that might be made from time to time, whether as an outcome of brand-new details, future advancements or otherwise.