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Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc.

Vaalco Energy Inc. · Nov 17, 2020 · 12 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc. – slide 1
    Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction November 17, 2020 VAALCO Energy, Inc. NYSE: EGY LSE: EGY
  2. Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc. – slide 2
    Acquisition Highlights Immediately Accretive to VAALCO Acquiring an additional 27.8% WI in the VAALCO operated Etame Marin block offshore Gabon, increasing VAALCOs total WI to 58.8% Nearly doubles VAALCOs total net production and…
  3. Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc. – slide 3
    Acquisition Terms Expected to Close in the Next 90 Days Total consideration to Sasol for the entire transaction of 44 million, subject to customary post-effective date adjustments, and future contingent payments of up to 6 million…
  4. Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc. – slide 4
    Transformational & Strategic Transaction Increases Size and Scale(1) (Highlighted below) International E&P focused on low-risk, producing assets in West Africa Operator of Gabon offshore Etame license Etame Joint Owners…
  5. Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc. – slide 5
    Step Change in Total NRI Production and Reserves Nearly Doubles Size and Scale 2019 YE PROVED SEC RESERVES(1) (MBBLS) YTD Sept 2020 NRI Production 10,000 Sasol Interest VAALCO 4,437 4,996 7,500 Combined 9,433 BOPD 5,000…
  6. Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc. – slide 6
    VAALCO Free Cash Flow Overview (2020E) Acquisition Increases Free Cash Flow per Barrel 2020 Free Cash Flow Per Barrel 45 Realized Oil Price 2020 Free Cash Flow Per Barrel 55 Realized Oil Price Each 5/barrel improvement 50.00 60.00 in…
  7. Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc. – slide 7
    Reserves and Resources at Etame Organic Growth Opportunities East Ebouri Gamba Extensions: 3 South East Etame and 2 South Tchibala Etame Gamba wells Ebouri West Etame Gamba Leads/Prospects: 5 potential satellite prospects…
  8. Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc. – slide 8
    Block DE-8 Offshore Gabon Diversifying and Adding to the Portfolio DE-8 Overview 180 miles NW of Etame VAALCO is acquiring a 40% non-operated Water depth 0 - 100 meters (block straddles Gabon shoreline) participating interest(1) in…
  9. Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc. – slide 9
    Near-Term and Long-Term Catalysts Acquisition Enhances Upside Potential Etame Seismic & Future Drilling Block DE-8 Equatorial Guinea Block P New proprietary 3-D seismic data Adds upside optionality Future potential with PSC license…
  10. Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc. – slide 10
    Vision 2025 2019/20 Etame License Roadmap to Transformational Growth Work Program Achieve material increase in scale Future Etame License as a premier Africa operator Work Programs Maintain operational excellence, cost discipline…
  11. Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc. – slide 11
    Sasol Acquisition Is Ideal Growth Transaction Value Accretive and Consistent with Growth Strategy Nearly Doubles VAALCOs Total Net Production and Reserves Estimated to Increase VAALCOs Free Cash Flow Per Barrel by 2.40…
  12. Acquisition of Sasol Gabon Assets Transformational & Strategic Transaction – Vaalco Energy Inc. – slide 12
    Contact Corporate Office Branch Office 9800 Richmond Avenue, VAALCO Gabon SA Suite 700, Houston, Texas 77042 B.P. 1335, Port Gentil, Gabon T 713.623.0801 F 713.623.0982 E vaalcovaalco.com T +241-(0)1-56-55-29 Investor…

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