VAALCO's North Tchibala well producing ~275 bopd with potential for 1,500+ bopd

VAALCO ENERGY INC /DE/

Well in Gabon brought online early Nov; produced ~8,000 gross bbl through early Dec at ~275 bopd.
Only 33% of injected completion fluid recovered; cleanup continues; lower stimulated zones may not be contributing.
Post-frac modeling suggests well capable of rates at or above 1,500 gross bopd.
First lifting from new FSO TELI completed Dec 4; final Nautipa FPSO volumes removed.
In Egypt, first horizontal well expected to spud Dec 12; in Canada, 4-10 well tie-in late Dec, drilling starts Jan 2023.

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