Gabon

VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today announced that the South East Etame 4P appraisal wellbore drilled from the VAALCO operated South East Etame North Tchibala (SEENT) platform offshore Gabon in the Etame Marin permit area successfully encountered oil sands in the Gamba formation.

VAALCO Energy, Inc. (NYSE: EGY) today announced a re-sequencing update to its drilling and workover program offshore Gabon in the Etame Marin block.

Tullow Oil plc (Tullow) is pleased to announce that it has reached agreement with the Government of Gabon over its licences in the Onal Complex Fields. Following negotiations, Tullow has regained its 7.5% stake in the Onal Complex producing fields and the Ezanga block (formerly the Omoueyi exploration block). 

VAALCO Energy, Inc. (NYSE: EGY) today announced that the Southeast Etame 2-H well, the first development well drilled in the Southeast Etame Field, was brought online at the rate of approximately 3,400 barrels of oil per day (approximately 850 barrels per day net to VAALCO). 

VAALCO Energy, Inc. (NYSE: EGY) today announced first production from Etame 12-H, a development well drilled from the Etame platform offshore Gabon.  Etame 12-H was drilled to a measured depth of approximately 3,450 meters targeting the recently discovered, untapped lower lobe of the Gamba reservoir.  Following completion operations, the well was brought online at the rate of approximately 2,000 BOPD on a gross basis (approximately 500 BOPD net to VAALCO) with no indication of hydrogen sulfide (H2S).  

The plunge in oil prices since mid-2014 shows that Gabon's plan to diversify its economy away from overdependence on oil is clearly the right way to go and is now more relevant than ever, IMF staff said.

VAALCO Energy, Inc. (NYSE: EGY) today announced first production from Etame 10-H, the second development well drilled from the newly installed Etame platform, offshore Gabon.  The horizontal development well was drilled to a Measured Depth (MD) of 3,144 meters while intersecting over 180m of high quality reservoir within an oil-bearing portion of the Gamba Sand.  Following completion operations, the well was tested at the rate of approximately 3,200 BOPD on a gross basis with negligible amounts of water and no hydrogen sulfide (H2S).  The well is currently being produced at approximately 3,000 BOPD.

VAALCO Energy, Inc. (NYSE: EGY) today announced that production from Well 2-H in the Ebouri field, offshore Gabon, has resumed following successful wireline remedial work.  VAALCO expects production to stabilize at approximately 2,500 gross barrels of oil per day, 700 net to VAALCO. 

VAALCO Energy, Inc. (NYSE: EGY) today announced the completion of the Etame 8-H, the first development well drilled from the newly installed Etame platform, offshore Gabon.  The Etame 8-H was drilled to a Measured Depth (MD) of 3196 meters and penetrated the Gamba Sand reservoir interval at 1820 meters True Vertical Depth (TVD), contacting 135 meters MD of high quality reservoir within the oil-bearing portion of the Gamba sand.  ​

VAALCO Energy, Inc. (NYSE: EGY) today announced that Well 2-H in the Ebouri field, offshore Gabon, has been temporarily shut-in to determine the cause of pressure communication between the tubing and casing annuli.

Shell today announced a frontier exploration discovery offshore Gabon, West Africa. The well Leopard-1 encountered a substantial gas column with around 200 metres net gas pay in a pre-salt reservoir.

VAALCO Energy, Inc. (NYSE: EGY) today announced the commencement of a new six well drilling campaign offshore Gabon on its Etame Marin block.  The development drilling campaign follows the recent on-schedule installation of the Etame platform and the Southeast Etame/North Tchibala ("SEENT") platform.  All work on this project was accomplished without a safety or environmental incident.   

Perenco, Tullow Oil’s partner in the Arouwe block offshore Gabon, today issued the following operational update. 

Production from the Etame Marin block has resumed after the successful completion of previously announced maintenance work on the Company's leased Floating, Production, Storage and Offloading (FPSO) vessel.  Work was performed to upgrade the fire and gas detection systems on the FPSO and other routine maintenance work was completed on-time and without any safety or environmental issues.  To facilitate this work, production from the block was shut-in beginning on August 23, 2014, and restarted on August 29, 2014.  Production is expected to increase to pre-shut-in production rates over the next few days as well operations are stabilized.

Impact Oil & Gas (‘Impact’) has raised a total of US$55 million through a private placing of new shares to both new and existing investors. The bulk of the placing, a total of US$50 million, has been raised from two key new investors; one investor is a fund managed by Helios Investment Advisers LLP, an Africa focused Private Equity Group while the other is a subsidiary of Hoskins Consolidated Investments (HCI) of South Africa. HCI is a Black Economic Empowerment (BEE) investment holding company listed on the Johannesburg Securities Exchange.