**Summary**
VAALCO Energy, Inc. released a positive operational and financial update on January 15, 2026, highlighting strong performance in 2025 and optimistic prospects for 2026. Key achievements include
1. **Production and Sales**
Achieved full-year 2025 sales volumes of approximately 22,100 working interest (WI) barrels of oil equivalent per day (BOEPD), at the top of its guidance range.
Produced around 21,150 WI BOEPD, meeting the midpoint of its full-year guidance.
2. **Financial Strength**
Increased cash at bank by nearly $35 million to $58.8 million as of December 31, 2025, without drawing on its reserve-based lending facility (RBL) in Q4.
Reduced aged receivables significantly, with all receivables in Egypt now largely current.
3. **Drilling Success**
Successfully initiated Phase Three Drilling Program in Gabon, with the ET-15 well confirming high-quality reservoir sands and strong communication with nearby wells.
Completed a successful 2025 drilling program in Egypt, including an exploration well in the H-Field that opened a new development area with an initial flow rate of 450 BOEPD.
4. **Project Updates**
The Baobab Ivorian FPSO remains on track to leave Dubai in early February 2026 and resume production in Côte dIvoire by Q2.
5. **CEO Commentary**
CEO George Maxwell emphasized consistent delivery <mark style="background-color:yellow">above</mark> guidance, strong cash flow management, and progress in receivables collection. He highlighted optimism for continued growth in 2026, driven by major projects in Gabon and Côte dIvoire.
VAALCO reaffirmed its commitment to driving shareholder value through strategic projects and operational excellence, while noting that forward-looking statements are subject to risks and uncertainties.
**End of Summary.**