Vaalco Energy Share News (EGY)

UK earnings, trading statements calendar - next 7 days

UK shareholder meetings calendar - next 7 days

CORRECT: Vaalco Director Stubbs buys shares worth USD25,000

(Correcting the amount of shares purchased and the total value.)

IN BRIEF: Vaalco Director Stubbs buys shares worth USD25 million

Vaalco Energy Inc - Houston, Texas-based company engaged in hydrocarbon exploration - Director Catherine Stubbs buys 6.7 million shares at USD3.735 on May 16 worth around USD25 million.

Vaalco Energy reports increased dividend and revenue in first quarter

(Alliance News) - Vaalco Energy Inc on Wednesday reported higher year on year sales and income, and declared a 92% higher quarterly dividend while looking forward to future growth.

Vaalco notes warning from NYSE for delay of 2022 results publication

(Alliance News) - Vaalco Energy Inc on Tuesday said it received a notice from the New York Stock Exchange that it did not file its 2022 results on time under form 10-K.

Canaccord Genuity slightly lowers target price on Vaalco

(Sharecast News) - Analysts at Canaccord Genuity slightly lowered their target price on energy company Vaalco from 715.0p to 700.0p on Tuesday as it made "a number of small adjustments" to its model.

IN BRIEF: Vaalco Energy annual revenue down as expenses rise

Vaalco Energy Inc - Houston, Texas-based company engaged in hydrocarbon exploration - Reports net income of USD51.9 million for 2022, down from USD81.8 million in 2021, while adjusted net income amounts to USD104.3 million, up significantly from USD39.6 million. Says total production expenses increase to USD107.9 million compared to USD72.6 million in 2021, driven by higher sales and costs associated with the TransGlobe combination as well as inflationary pressures in 2022. Net income for the fourth quarter is USD17.8 million, down from USD34.4 million a year earlier. Declares a quarterly cash dividend of USD0.063 per share for 2023, up from USD0.325 per share a year prior.

TRADING UPDATES: Gfinity revenue up; Pensana warns on funding needs

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

Vaalco delays 2022 earnings to fully incorporate Transglobal purchase

Vaalco Energy Inc - Houston, Texas-based company engaged in hydrocarbon exploration - Expects to file annual report for 2022 after the original due date of March 16. Says process of completing the preliminary purchase price allocation and reviewing the consolidation of TransGlobe's results into its financial statements requires additional time. Transglobe acquisition was completed in October 2022.

IN BRIEF: Vaalco Energy ups annual production and quarterly dividend

Vaalco Energy Inc - oil and gas producer in west and north Africa and Canada - Reports fourth quarter production of 18,175 working-interest barrels of oil equivalent per day, or around 14,200 net-revenue-interest boepd. Says this was within its fourth quarter guidance range and was helped by strong Egypt production, though slightly offset by delayed Gabon well timing and related lower-than-expected flow rates. Full-year production increases by 43% year-on-year to 10,150 net-revenue-interest boepd. Increases quarterly cash dividend by 92% to USD0.0625 from USD0.325. Says drilling programmes will continue in Canada and Egypt in the first quarter of 2023.

IN BRIEF: Vaalco subsidiary terminates ATB Financial lending facility

Vaalco Energy Inc - Houston, Texas-based oil and natural gas company focusing on west and north Africa and western Canada - Says its indirect wholly-owned subsidiary TransGlobe Energy Corp terminates lending facility with ATB Financial regarding TransGlobe Energy's revolving Canadian reserves-based lending facility. As of June 4, borrowing base was set at CAD22.5 million, GBP13.7 million. Says no amounts were drawn on the revolving loan facility as of Monday. Says the termination of the facility does not affect Vaalco Energy's USD50.0 million senior secured reserve-based revolving credit facility with Glencore Energy UK Ltd, which remains in force as of Friday.

CORRECT (Dec 09): Savannah Energy completes Exxon Mobil acquisition

(Correcting that the Exxon Mobil portfolio acquisition was completed by Savannah Energy PLC.)

TRADING UPDATES: Savannah completes Exxon Mobil portfolio acquisition

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

TRADING UPDATES: Gulf Marine wins deal; Rockpool considers acquisition

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: