Vaalco completes acquisition of Sasol Gabon’s working interest in Etame Marin block offshore

GABON – Vaalco Energy has announced its completion of the previously announced acquisition of Sasol Gabon’s 27.8% working interest in the Etame Marin block offshore Gabon, increasing the Company’s total working interest to 58.8%. The transaction had an economic effective date of July 1, 2020. Taking into account the US$4.3 million deposit, net cash flow from the Sasol interest through closing and other purchase price adjustments, Vaalco paid US$29.6 million to Sasol at closing from cash on hand. Vaalco’s reserves, production and financial results for the Sasol interest being acquired…

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