Exploration & Production
Vaalco Energy Provides Operational Update On Granite Wash and Bakken Projects
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In September 2011, the Company acquired a 65% working interest in approximately 22,000 gross acres (14,300 net acres) covering the Middle Bakken and deeper formations in the East Poplar unit and the Northwest Poplar field in Roosevelt County, Montana. Pursuant to the terms of the acquisition agreement, VAALCO is required to drill three wells at its sole cost, one of which must be drilled by June 1, 2012 and the remaining two wells which must be drilled by the end of 2012. A vertical exploration well was spudded in December 2011 to evaluate the formations which meets the time requirement for drilling the first well.
The well completed drilling in early March 2012 evaluating the Bakken and several deeper formations. VAALCO is currently in the process of analyzing the logs which are…
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