Oil & Gas Council Africa Assembly 2015 June 23, 2015 Paris, France NYSE:EGY
West Africa Focus Block P Working Interest 31.0% 57,000 gross acres 18,000 net acres Bata Offshore Exploration & Development EQUATORIAL GUINEA Etame Marin Permit Working Interest 28.1% 28,700 gross acres 8,100 net acres…
Company Profile Key Metrics Share Price(1) 2.41 52-Week Range(1) 2.00 - 9.67 Market Capitalization(1) 141 million Cash Balance including restricted(2) 64 million Revolving Debt Facility(2) 65 million Current Borrowings(2) 15…
Offshore Gabon Etame Marin Permit FPSO Petroleo Nautipa Operator with a 28.1% net W.I. Long-term contract with Tinworth through 2020 Capacity: 30,000 bbls of total fluids per day Partners: Capacity: 25,000 bbls of oil per day…
Etame Field Expansion Project New Etame Platform Etame ET-8H ET-9H 4 pile, 8 slot platform in water depth of 85 ET-4H meters ET-5H ET-6H ST Targeting 10 MMBOE gross reserves ET-10H ET-1V Fault Block Initial 3 well…
SE Etame & North Tchibala Fields Project New SEENT Platform 4 pile, 8 slot platform in water depth of 85 meters SE Etame Targeting 7 MMBO gross reserves Transocean Constellation II jackup rig Initial 3 well development 28.0 - 32.0…
Crude Sweetening Project Targeting sour oil reserves at Ebouri and Etame fields Ebouri Due to significant fall in oil prices, re-evaluating project scope and design Some options being considered: Export Pipeline Chemical removal…
Onshore Gabon- Mutamba Iroru Permit Shell VAALCO operated with 41% Rabi Kounga Field working interest Cum: 840 MMBO EUR 900 MMBO NGongui discovery well drilled in Q4 2012 Rabi Kounga Pipeline Encountered 49 feet of oil pay in…
Offshore Equatorial Guinea - Block P VAALCO 31% working interest Marathon 1,100 mmboe Block P Partners have agreed to the development of the Venus discovery prior to the drilling of exploration wells Noble Revising the JOA to…
Exploration Program 12
Angola Block 5 Identified Exploration Upside Expanded lead inventory VAALCO 50 Kilometers VAALCO - Derived from new 3-D seismic Block 5 Loengo Prospect A Lead reprocessing B Lead VAALCO operated with 40% WI, VAALCO 10% govt.…
Offshore Angola - Block 5 Regional X-section VAALCO VAALCO VAALCO VAALCO Cobalt Mobil Prospect Lead Block 5 Loengo Prospect Loengo Ombundi Discovery Discovery Orca -1 Baleia -1A A 15 miles 65 miles A VAALCO Ombundi Lead…
2000 PSTM vs. 2015 PSDM Seismic Data 2000 PSTM Seismic Data 2015 PSDM Seismic Data New 3D seismic reprocessing improving data quality Additional leads are being identified and reviewed 15 15
Why Invest in VAALCO Now Near term catalysts Continued Development Program at Etame reversing production decline Analyzing recently reprocessed pre-salt seismic on Block 5 Proven West Africa Operator 100% operated In 3 out of top 4…
APPENDIX 17
Strong Financial Position (s in millions) Financial Position 3/31/2015 Cash Balance (Includes Restricted) 64 Working Capital (Includes Restricted) 60 Net PP&E 107 Current Borrowing Balance (IFC Loan) 15 Retained Earnings 67…
EBITDAX Reconciliation 12 months 3 months ended ended 12/31/2014 3/31/2015 Revenues 127,691 18,239 Operating costs and expenses (182,097) (53,517) Operating income (loss) (54,406) (35,278) Depreciation, depletion and amortization…
2015 Guidance (As of May 28, 2015) BOPD 3,900 4,600* *2nd Quarter Guidance 4,300 4,600 OPEX (MM) 30.0 MM - 33.0 MM* *2nd Quarter Guidance 7.5 - 8.5 Workovers (MM) 3.0 MM - 6.0 MM *2nd Quarter Guidance 0.0 G&A (MM) 12.5 MM -…
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