VAALCO Energy Announces Intent to File Form 12b-25 and Temporarily Delay Its Fourth Quarter and Full Year 2022 Earnings Release and Conference Call
March 13 2023 - 3:00AM
VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the
“Company”) announced today that it plans to file a Notification of
Late Filing on Form 12b-25 with the Securities and Exchange
Commission (“SEC”) as it has determined it expects to be unable to
file its Annual Report on Form 10-K (“Form 10-K”) for the year
ended December 31, 2022 by its original due date of March 16, 2023.
The Company has determined that it is unable to file its Form 10-K
within the prescribed time period without unreasonable effort or
expense. As disclosed in VAALCO’s Current Report on Form 8-K filed
with the SEC on October 14, 2022, the Company completed the
acquisition of TransGlobe Energy Corporation (“TransGlobe”) on
October 13, 2022. The process of completing the preliminary
purchase price allocation and reviewing the consolidation of
TransGlobe’s results into VAALCO’s financial statements requires
additional time.
VAALCO is working diligently to file the Form
10-K as soon as reasonably practicable, which VAALCO anticipates
will be within the extension period of 15 calendar days as provided
by Rule 12b-25. The Company will make a subsequent announcement to
schedule the date and time of its fourth quarter and full-year 2022
earnings release and conference call once the filing date of its
Form 10-K is confirmed.
Forward Looking Statements
This announcement includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended (the “Securities Act”) and Section 21E of the
Securities Exchange Act of 1934, as amended, which are intended to
be covered by the safe harbors created by those laws and other
applicable laws and “forward-looking information” within the
meaning of applicable Canadian securities laws. Where a
forward-looking statement expresses or implies an expectation or
belief as to future events or results, such expectation or belief
is expressed in good faith and believed to have a reasonable basis.
All statements other than statements of historical fact may be
forward-looking statements. The words “anticipate,” “believe,”
“estimate,” “expect,” “intend,” “forecast,” “outlook,” “aim,”
“target,” “will,” “could,” “should,” “may,” “likely,” “plan” and
“probably” or similar words may identify forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking. Forward-looking statements in
this press release include, but are not limited to, statements
relating to VAALCO’s expectations concerning the timing of the
filing of its Annual Report on Form 10-K for the year ended
December 31, 2022. Investors are cautioned that such
forward-looking statements are subject to risks, uncertainties and
other factors, which could cause actual results to differ
materially from future results expressed, projected or implied by
the forward-looking statements.
Inside Information
This announcement contains inside information as
defined in Regulation (EU) No. 596/2014 on market abuse which is
part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 (“MAR”) and is made in accordance with the
Company’s obligations under article 17 of MAR. The person
responsible for arranging the release of this announcement on
behalf of VAALCO is Matthew Powers, Corporate Secretary of
VAALCO.
About VAALCO
VAALCO, founded in 1985 and incorporated under
the laws of Delaware, is a Houston, USA based, independent energy
company with production, development and exploration assets in
Africa and Canada.
Following its business combination with
TransGlobe in October 2022, VAALCO owns a diverse portfolio of
operated production, development and exploration assets across
Gabon, Egypt, Equatorial Guinea and Canada.
For Further Information
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VAALCO Energy, Inc.
(General and Investor Enquiries) |
+00 1 713 623 0801 |
Website: |
www.vaalco.com |
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Al Petrie Advisors (US
Investor Relations) |
+00 1 713 543 3422 |
Al Petrie / Chris Delange |
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Buchanan (UK Financial
PR) |
+44 (0) 207 466 5000 |
Ben Romney / Jon Krinks |
VAALCO@buchanan.uk.com |
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