A Diversified African-focused E&P Business November Investor Presentation November 2022 Supporting Sustainable Shareholder Returns & Growth
Accelerating Shareholder Returns and Value Growth Creating a world-class African-focused E&P supporting sustainable shareholder returns and growth Complementary businesses Robust net cash balance sheet Step change in production…
A Diversified African-Focused E&P Complementary businesses coming together to create a stronger, Pan-African entity A Growing, Diversified Footprint in Africa Supported by High-Quality Gabon (offshore) P D A E Canadian Acreage…
Debt Free Balance Sheet Underpins a Robust Financial Framework Stronger foundation to fund enhanced shareholder returns and growth Expanded Liquidity at 30 September 2022 (USm) Financial Priorities for the Combined Company (1) Net…
Returning Meaningful Value to Shareholders Better positioned for expanded and more sustainable through-cycle shareholder returns Near-Term Cash Returns to Shareholders (USm)(1) Shareholder Return is Paramount for the Combined…
Adding Future Value Through Synergies Unlocking additional value through cost reductions and operational optimization through the use of best practices Immediate Cost Synergies Medium-Term Cost Synergies Operational Synergies Within…
www.vaalco.com ASSET OVERVIEWS Creating a Diversified African E&P Business Supporting Sustainable Growth & Shareholder Returns
Significant Upside in the Enlarged Resource Base Full-cycle combined portfolio supports long-term reserve and production growth, and facilitates improved capital ranking RESOURCES RESERVES PRODUCTION Block G & H Exploration Etame…
Egypt: Eastern Desert Merged Concession Newly merged concession offering attractive fiscal terms to enable further development 100% WI Operator Asset Overview Located onshore in Egypts Eastern Desert with 76,205 gross acreage…
Egypt: Positioned for Long-Term Value Creation Extended field life supports long term sustainable investment, including ESG projects Drilled over 250 wells in past 10+ years 38A Field 2P reserves (NRI) of 17.4 mmbbl; 1P (NRI):…
Canada: Harmattan Cardium Assets A core play in the Western Canadian Sedimentary Basin (WCSB) with substantial potential remaining www.vaalco.com Asset Overview TGL Rights 2022 Drills Cardium assets in the WCSB covering 52,425…
Gabon: Etame Offshore License Production from multiple reservoirs, wells and platforms, with recovery factors 50% www.vaalco.com VAALCO Sinopec (Addax) PetroEnergy 58.8% WI(1) 31.4% WI 2.3% WI Operator Asset Overview…
Equatorial Guinea: Future Growth Potential Maximizing the value in VAALCOs portfolio www.vaalco.com VENUS EUROPA SW GRANDE DISCOVERY DISCOVERY PROSPECT 23.1 7.9 164.4 million BO million BOE million BOE 2P CPR gross reserves…
Environmental, Social, Governance Cultural alignment and shared track record for environmental stewardship enhances Combined www.vaalco.com Companys ability to deliver an effective ESG agenda Track Record and Commitment of Combined…
CONTACT www.vaalco.com CORPORATE OFFICE BRANCH OFFICES 9800 Richmond Avenue, VAALCO Gabon SAs TransGlobe Egypt Suite 700, Houston, Texas 77042 B.P. 1335, Port Gentil, Gabon 6 Badr Towers Ring Road, Maadi T 713.623.0801 T…