www.vaalco.com June 2021 Annual General Meeting 2021 PROFITABLY AND SUSTAINABLY GROWING IN WEST AFRICA CONFIDENTIAL
ESTABLISHED OPERATOR GENERATING FREE CASH FLOW Recent Acquisition and Successful Drilling Programs Increase Size and Scale(1) Bata BLOCK P WI 45.9% International E&P focused on low-risk, producing assets in West Africa with net cash…
ACCRETIVE GROWTH AND SHAREHOLDER RETURNS 2021/2022 Program and Near-term Value Drivers Continue to Progress VAALCO Towards Its Strategic Targets 2021/22 Etame Work Program Targeting 7,000 8,000 Gross BOPD Production Increase…
ENVIRONMENTAL, SOCIAL, GOVERNANCE 2020 ESG Report to be Delivered in June ENVIRONMENTAL MANAGEMENT SOCIAL LICENSE TO OPERATE CORPORATE GOVERNANCE Devoted to environmental stewardship Equal opportunity employer that firmly Good…
SASOL ETAME WI ACQUISITION Step Change in Total Production and Reserves Production Outlook Proved NRI Reserves(1) (MMBO) 10,000 4.0 Full quarter Sasol Includes 7-day 3.0 production and 3.2 planned field natural decline…
2021/22 DRILLING AND WORKOVER CAMPAIGN Converting Capital Into Additional Scale and Production 2021/2022 Drilling Program Program includes up to four wells Potentially two development and Est. Avg Daily 2P Reserves Best Estimated…
NEW LOWER COST FSO SOLUTION for 2022 and Beyond The Nautipa FPSO at Etame is owned and This approach has significant advantages: operated by BW Offshore. The Omni FSO proposal could reduce The FPSO contract expires in September 2022…
EQUATORIAL GUINEA Maximizing the Value in VAALCOs Portfolio VENUS EUROPA SW GRANDE DISCOVERY DISCOVERY PROSPECT 16.5 7.9 164.4 million BOE million BOE million BOE unrisked gross unrisked gross unrisked gross Best 2C resource(1) 2C…
VAALCO NETBACK OVERVIEW (Q2-Q4 2021E) Maximize Margins Through Cost Discipline Each 5/barrel improvement in 2021 Netback Per Barrel oil price increases Free Cash Netback per barrel excludes Hedging, Working Capital Movement and…
POTENTIAL INDICATIVE NETBACKS WITH INCREASED PRODUCTION AND LOWER OPEX Oil Price: 65 per barrel Successful 2021/2022 Drilling Campaign (Q2 2022) 1.18 1.42 19.78 6.83 3.43 32.36 20,000 Gross BOPD 0 65 Successful FSO…
HEDGING Materially Derisking Funding of 2021/2022 Drilling Campaign and FSO Solution Hedged a majority of 2021 production to protect cash flows which are expected to be used to fund the 2021/2022 drilling program and the potential…
NEAR-TERM AND LONG-TERM CATALYSTS Strong Upside Potential at Etame and Block P ORGANIC DRILLING OPPORTUNITES TO CORPORATE HIGHLY ACCRETIVE DEVELOPMENT PROGRAM MAXIMIZE NETBACKS RISK-MANAGEMENT OPPORTUNITES OPPORTUNITIES 2021/22…
CONTACT www.vaalco.com CORPORATE OFFICE INVESTOR CONTACTS 9800 Richmond Avenue, U.S. - Al Petrie Suite 700, Houston, Texas 77042 T 713.543.3422 T 713.623.0801 E apetrievaalco.com F 713.623.0982 E vaalcovaalco.com U.K. - Ben Romney /…
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