Vaalco wraps Gabon Phase 3 as ETSEM-3H flows ~2,000 gross BOPD; Baobab Phase 5 drilling starts

VAALCO ENERGY INC /DE/

ETSEM-3H development well in an attic position within Gabon's SE Etame field placed on production; 300 meters of net pay in Gamba reservoir sands.
Stabilized initial flow rate of about 2,000 gross BOPD, or 1,140 BOPD net to Vaalco; Phase 3 drilling program now complete.
Borr Norve rig demobilized from the SE Etame platform after the final Phase 3 well.
Offshore Côte d'Ivoire, Baobab Phase 5 has begun with batch-setting of top-holes; plan calls for four producers, three water injectors and two workovers.
First new Baobab producer expected online near end of 2026, with meaningful production growth anticipated in 2027, per CEO George Maxwell.

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