Vaalco Energy, Inc. · NYSE:EGY
Vaalco Energy — Merger or Acquisition (February 2024)
8 slides from Vaalco Energy's merger presentation, February 2024
Slide 1: Acquisition of Svenska: Enhancing Value, Growing Portfolio
www.vaalco.com ACQUISITION OF Profitably SVENSKA: and Sustainably Growing Value ENHANCING VALUE, GROWING PORTFOLIO February 2024
Slide 2: Safe Harbor Statements
SAFE HARBOR STATEMENTS www.vaalco.com Forward Looking Statements This presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors create
Slide 3: Strategically Expanding Our Diversified African-Focused Portfolio
STRATEGICALLY EXPANDING OUR DIVERSIFIED AFRICAN-FOCUSED PORTFOLIO www.vaalco.com Offshore Cote d’Ivoire producing asset adds production, reserves and upside A Growing, Diversified Footprint in Africa Supported by High-Quality Immediately Accretive Acquisition Canadian Acreage Current 4,500 WI BOEPD
Slide 4: Svenska Acquisition Highlights
SVENSKA ACQUISITION HIGHLIGHTS www.vaalco.com FPSO Baobab Ivoirien MV10 Utilizing strong Cote d’Ivoire diversifies balance sheet to portfolio with new deliver value accretive country M&A entry in West Africa No issuance of debt or equity; Strategically complementary acquisition to be funded with a a
Slide 5: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS Immediately accretive to shareholders www.vaalco.com Adding Value to VAALCO’s Portfolio Value Per Flowing WI ($/BOEPD) 25,000 > Current production ~ 4,500 WI BOEPD (99% oil) 20,000 $19,100 > Strong realizations closely aligned with Brent pricing 15,000 $14,800 > Accretive ac
Slide 6: Significant Additions to Production and Reserves
SIGNIFICANT ADDITIONS TO PRODUCTION AND RESERVES With compelling valuation metrics at highly attractive pricing www.vaalco.com WI Production (BOEPD) CI-40 Subsea Configuration 30,000 4,500 23,950 20,000 10,000 0 EGY 2023 WI Production 1 Acq. WI Current Production Acquisition WI CPR Reserves2 (MMBOE)
Slide 7: Cote d'Ivoire: CI-40 License
COTE D’IVOIRE: CI-40 LICENSE Production from multiple reservoirs, and 9 subsea wells, with upside from identified prospects www.vaalco.com Canadian Natural Resources VAALCO Petroci Holding Water Depth 900 – 1,300M Discovery year 2001 57.61% WI 27.39% WI 15.00% WI License term April 20381 Operator (1
Slide 8: Contact
CONTACT www.vaalco.com CORPORATE OFFICE BRANCH OFFICES 9800 Richmond Avenue, VAALCO Gabon SA VAALCO Canada Suite 700, Houston, B.P. 1335, Port Gentil, Gabon 900, 444 – 5th Avenue S.W. Texas 77042 Calgary, Alberta, Canada T2P 2T8 T +241-(0)1-56-55-29 T +1.403.264.9888 T 713.623.0801 VAALCO London F 7
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