VAALCO Energy’s Etame 14H Well Delivers Strong Initial Flow Rate—Operational Momentum Builds in Gabon and Côte d'Ivoire

Etame 14H Sets New Benchmarks with 4,850 BOPD Initial Results

VAALCO Energy (NYSE:EGY, LSE:EGY) has reported a remarkably positive operational update, spotlighting significant progress in its Gabon drilling campaign and strategic preparations in Côte d'Ivoire. The company’s recently drilled Etame 14H development well, sited in an attic position within the Main Fault Block at the Etame field, has kicked off production with an impressive initial flow rate of 4,850 gross barrels of oil per day (BOPD), of which 2,850 BOPD is net to VAALCO.

This well encountered 325 meters of net pay in the high-quality Gamba reservoir, exceeding pre-drill forecasts on both porosity and permeability. The robust performance from this well underscores both the technical potential and near-term profitability of VAALCO’s assets in Gabon.

Ebouri Platform Rig Mobilized—Next Well in Focus

Following the successful completion of Etame 14H, VAALCO has mobilized its rig to the Ebouri platform and commenced drilling on the EEBOM-5H development well. This next target is being drilled from a sidetrack off the previously abandoned EEBOM-5P well, aiming for an attic position that could further bolster production throughput. Additionally, plans are underway for future workovers to optimize both output and reserves in the region.

Baobab Field in Côte d'Ivoire Approaching Restart Milestone

On the Côte d'Ivoire front, the Baobab Ivorien Floating Production Storage and Offloading vessel (FPSO) recently arrived after a comprehensive 47-day refurbishment odyssey from Dubai. Now moored at its original location, the vessel is in the final stages of reconnecting risers and umbilicals, positioning the Baobab field for its anticipated Q2 2026 production restart. This marks an important milestone in VAALCO’s strategy to diversify and grow its operational footprint in West Africa.

CEO Sees 2026 as a Pivotal Year for Growth and Value Creation

Chief Executive Officer George Maxwell commented, "With successes in our Gabon drilling campaign and the return of the Baobab field to production, we are at a critical junction and believe the remainder of 2026 will be very profitable." This upbeat sentiment reflects management’s confidence in the organic capital programs designed to drive value for shareholders.

Key Operational Snapshot (as of 11:44 AM)

What’s Next? Eyes on Production and Shareholder Value

The numbers and operational momentum suggest VAALCO is well positioned to deliver on its targets for the year, but execution risks remain, including logistics, commodity prices, and subsurface uncertainties. Investors may want to watch further drilling results from Gabon and the upcoming production restart at Baobab as key catalysts for EGY in 2026.

For more information, visit www.vaalco.com.

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