• Vaalco has now completed the acquisition of Sasol’s 27.8% working interest in the Etame Marin block offshore Gabon, increasing the Vaalco’s total working interest to 58.8%.
• The company paid US$29.6 million in cash to Sasol, taking into account the agreed upon transaction price of US$44 mm, the deposit already paid and post-effective date adjustments, with a future contingent payment of up to US$5 mm.
• The final payment is marginally lower than we anticipated (US$35 mm as of mid-January) a ....
26 Feb 2021
Vaalco Energy (LSE: EGY): Completing Gabonese acquisition
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Vaalco Energy (LSE: EGY): Completing Gabonese acquisition
• Vaalco has now completed the acquisition of Sasol’s 27.8% working interest in the Etame Marin block offshore Gabon, increasing the Vaalco’s total working interest to 58.8%.
• The company paid US$29.6 million in cash to Sasol, taking into account the agreed upon transaction price of US$44 mm, the deposit already paid and post-effective date adjustments, with a future contingent payment of up to US$5 mm.
• The final payment is marginally lower than we anticipated (US$35 mm as of mid-January) a ....