Vaalco Energy ( (EGY) ) just unveiled an update.
Vaalco Energy, Inc. has acquired a 70% interest and become the operator of the CI-705 block offshore Côte d’Ivoire. This strategic move expands Vaalco’s footprint in the prolific Tano basin and aligns with its focus on West Africa, offering potential for significant growth. The block is located near existing infrastructure and has both oil and natural gas prospects, which Vaalco plans to explore further through detailed geological analysis. This acquisition is expected to enhance Vaalco’s portfolio and contribute to its organic growth strategy, offering attractive upside potential for the company and its stakeholders.
More about Vaalco Energy
Vaalco Energy, founded in 1985 and based in Houston, Texas, is an independent energy company with a diverse portfolio of production, development, and exploration assets across Gabon, Egypt, Côte d’Ivoire, Equatorial Guinea, Nigeria, and Canada.
YTD Price Performance: -7.04%
Average Trading Volume: 894,944
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $420.4M
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