VAALCO Energy, Inc. Regains Compliance With NYSE Continued Listing Standards
July 08 2020 - 4:45PM
VAALCO Energy, Inc. (NYSE: EGY, LSE:EGY) today announced that it
has received notification from the New York Stock Exchange (“NYSE”)
that the Company has regained full compliance with all of the
NYSE’s continued listing standards, as indicated in a letter
delivered to the Company on July 1, 2020. As previously announced,
on April 22, 2020, the Company was notified by the NYSE that the
price of its common stock had fallen below the NYSE
requirement that the average closing price of a listed company’s
common stock not be less than $1.00 per share for a period of over
30 consecutive trading days. The Company is now in compliance
with this requirement, and the Company’s common stock continues to
trade without interruption on both the NYSE and LSE.
About VAALCO
VAALCO, founded in 1985, is a Houston, USA
based, independent energy company with production, development and
exploration assets in the West African region.
The Company is an established operator within
the region, holding a 31.1% working interest in the Etame Marin
Block, located offshore Gabon, which to date has produced over 116
million barrels of crude oil and of which the Company is the
operator.
For further information: |
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VAALCO Energy, Inc.
(General and Investor Enquiries) |
+00 1 713 623 0801 |
Website: Cary Bounds, CEO /
Elizabeth Prochnow, CFO |
www.vaalco.com |
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Buchanan (UK Financial
PR) |
+44 (0) 207 466 5000 |
Ben Romney / Kelsey Traynor /
James Husband |
VAALCO@buchanan.uk.com |
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Al Petrie Advisors (US
Investor Relations) |
+00 1 713 543 3422 |
Al Petrie / Chris Delange |
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Canaccord Genuity
(Corporate Broker) |
+44 (0) 207 523 8000 |
Henry Fitzgerald-O’Connor / James
Asensio |
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Forward Looking Statements
This document includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements, other than statements of
historical facts, included in this document that address
activities, events, plans, expectations, objectives or developments
that VAALCO expects, believes or anticipates will or may occur in
the future are forward-looking statements. These statements
may include statements related to the impact of the COVID-19
pandemic, including the recent sharp decline in the global demand
for oil and the resulting steep decline in oil prices, disruptions
in global supply chains, quarantines of our workforce or workforce
reductions and other matters related to the pandemic, well results,
wells anticipated to be drilled and placed on production, future
levels of drilling and operational activity and associated
expectations, the implementation of the Company’s business plans
and strategy, prospect evaluations, prospective resources and
reserve growth, its activities in Equatorial Guinea, expected
sources of and potential difficulties in obtaining future capital
funding and future liquidity, its ability to restore production in
non-producing wells, future operating losses, future changes in
crude oil and natural gas prices, future strategic alternatives,
future acquisitions, capital expenditures, future drilling plans,
prospect evaluations, negotiations with governments and third
parties, timing of the settlement of Gabon income taxes,
expectations regarding processing facilities, production, sales and
financial projections and reserve growth. These statements
are based on assumptions made by VAALCO based on its experience and
perception of historical trends, current conditions, expected
future developments and other factors it believes are appropriate
in the circumstances. Such statements are subject to a number
of assumptions, risks and uncertainties, many of which are beyond
VAALCO’s control. These risks include, but are not limited
to, crude oil and natural gas price volatility, inflation, general
economic conditions, the outbreak of COVID-19, the Company’s
success in discovering, developing and producing reserves,
production and sales differences due to timing of liftings,
decisions by future lenders, the risks associated with liquidity,
lack of availability of goods, services and capital, environmental
risks, drilling risks, foreign regulatory and operational risks,
and regulatory changes.
Investors are cautioned that forward-looking
statements are not guarantees of future performance and that actual
results or developments may differ materially from those projected
in the forward-looking statements. VAALCO disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise.
Inside Information
This announcement contains inside information as
defined in Regulation (EU) No. 596/2014 on market abuse (“MAR”) and
is made in accordance with the Company’s obligations under article
17 of MAR.
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