VAALCO ENERGY, INC. EnerComs Oil and Gas Conference August 11 - 15, 2013 Denver Robert Gerry III Chief Executive Officer KCA Deutag Ben Rinnes jackup drilling rig approaching Ebouri Platform 1
Company Profile Resources and Market Data Reserve Data as of 12/31 2012 2011 Ticker (NYSE) EGY Proved & Probable Reserves (MBOE) 11,427 9,242 Employees - worldwide 100 Proved Reserves (MBOE) 7,745 6,368 *Market Capitalization…
West Africa Focus Block P 57,000 gross acres 18,000 net acres EQUATORIAL Offshore Exploration GUINEA & Development Mutamba Iroru Permit 270,000 gross acres Libreville 111,000 net acres GABON Onshore Exploration Port…
Offshore Gabon: Etame Marin Permit VAALCO is the Operator with a 28.1% Libreville net W.I, in partnership with the Sinopec GABON group (Addax), Sasol, Tullow, Sojitz and Port Gentil PetroEnergy Production from four fields, all…
Offshore Gabon: Fields in the Etame Marin Permit Ebouri Field Etame Field Southeast Etame Field Cumulative Production (1) Avg. Daily Gross Production (2) Field Name MMBO BOPD North Tchibala Field Etame 49.8 8,250…
Offshore Gabon: Etame Field Initial discovery made in 1998 Field declared commercial in 2001; largest of the four fields Etame Field First oil production September 2002 Production is from four wells with subsea completions…
Offshore Gabon: New Platform Construction New Etame Platform Investment will result in more efficient drainage of reservoir and increase proved reserves Expected platform cost is 175 million (49 million net to Bottom Vent…
Offshore Gabon: New Platform Construction New SE Etame/N. Tchibala Platform New SEENT Platform Objective to commercialize SE Etame Gamba discovery and Export Pipeline exploit North Tchibala Dentale reservoirs SE Etame Field…
Offshore Gabon: Avouma & South Tchibala Fields Discovery well completed August 2004 Avouma and South Tchibala Production commenced in Fields January 2007 EAVOM-3H well came online April 2013 with initial natural flow rate of…
Offshore Gabon: Ebouri Field Discovery well completed January 2004 Platform installed August 2008 First production began in January 2009; one well currently producing from the platform H2S discovered in July 2012 in Ebouri two…
Offshore Gabon: Ovoka Prospect Currently drilling the Ovoka exploration well Two target areas Gamba and the deeper Lucina formations Water Depth 60m Well Depth 2,800m Estimated costs 17 million (5 million net to VAALCO)…
Offshore Gabon: Future Exploration Potential Ovoka Prospect Dimba Prospect 223 sq km of 3D data in 60m water depth 60m water depth Etame Marin block Well depth: 2,800m Well depth: 2,500m completed 4Q 2011 GABON Coucou Prospect…
Floating Production, Storage and Offloading Facility FPSO Petroleo Nautipa Operations began 2002 Long-term contract with Tinworth through 2020 1.1 million barrel storage capacity Can accept up to 30,000 barrels of total fluids…
Onshore Gabon: Mutamba Iroru Permit Rabi Kounga Field NGongui Discovery well 240 wells Cum: 840 MMBO drilled in Q4 2012 EUR 900 MMBO Encountered 49 feet of oil pay in the Gamba Formation 50% Partner TOTAL Atora Field 11…
Offshore Equatorial Guinea: Block P PDA Boundary 57,000 acres 232 km2 VAALCO in October 2012, acquired 31% working interest Marte: in 57,000 gross acres (PDA area) AlbianTurbidites Block has 2005 discovery Venus is believed…
Offshore Angola: Kwanza Basin Republic of Angola VAALCO-operated Block 5 VAALCO in November 2006, acquired LOENGO Subsalt Prospect 40% operating working interest in 330 Water Depth Block 5, Sonangol P&P has 20% carried interest…
Offshore Angola: Block 5 Exploration 1.4 million acre license with water depths from 0-500m in northern part of Kwanza Basin Potential on-block reserves of 1 BBO+ over multiple pre-salt and post-salt prospects and leads Block…
Offshore Angola: Block 5 Primary Prospects Kindele/Mubafo Prospect 40% WI 100m water depth Well depth: 2000m 31 million gross cost 50 MMBO gross unrisked potential Jack Prospect 40% WI 80m water depth Well depth: 2200m 30…
Pro-forma Consolidated Balance Sheets 6/30/2013 12/31/2012 Assets Cash & cash equivalents 78,708 130,800 Restricted cash 12,641 12,131 Accounts receivables 38,736 13,113 Other current assets 8,069 3,955 PP&E, net 132,720…
2013 Capital Budget Gross Net Millions Million Gabon Offshore Development Avouma 3H 25.7 7.2 Construction of 2 new platforms 144.7 40.6 (Etame & SEENT) Other 12.7 3.6 Exploration Ebouri exploration well (Unsuccessful) 13.5…
Pro-forma Income Statements 6 months 12 months ended ended 6/30/2013 12/31/2012 Revenues 73,255 195,287 Operating costs and expenses (40,085) (108,694) Operating Income 33,170 86,593 Other expense, net (55) 559 Income tax…
VAALCO - Summary Stable production profile 100% operated Multiple development opportunities Attractive reserve base 98% oil At 12/31/12, proved reserves increased by 22% as compared to 2011 Strong balance sheet No debt…
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