Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
VAALCO ENERGY INC /DE/ entered into Asset Purchase and Sale Agreement with Petrus Resources Corp. valued at approximately $35 million Canadian Dollars (USD $25.6 million) (effective 2026-02-04).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Petrus Resources Corp.
- Value
- approximately $35 million Canadian Dollars (USD $25.6 million)
- Effective
- 2026-02-04
Exact text from the filing
On February 4, 2026, VAALCO Energy Canada, Inc. (the "Seller"), a wholly-owned indirect subsidiary of VAALCO Energy, Inc., (the "Company", "we" and "us") entered into an Asset Purchase and Sale Agreement (the "Asset Purchase Agreement") with Petrus Resources Corp. (the "Buyer") and, solely for the purposes of Section 9.7 therein, Petrus Resources LTD. (the "Buyer Guarantor"), providing for the purchase by Buyer of substantially all of Seller’s assets and liabilities, which constitute the Canadian land assets and related liabilities we acquired pursuant to the terms of our business combination with TransGlobe Energy Corporation in October 2022 (the "Assets," together with the transactions contemplated by the Asset Purchase Agreement referred to herein as the "Canadian Asset Sale").
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