VAALCO files amended 8-K with TransGlobe reserves: proved oil 15.7M bbl, standardized NPV $304M

VAALCO ENERGY INC /DE/

Proved oil reserves of TransGlobe at Dec 31, 2021: 15,743 MBbls (Egypt 12,524, Canada 3,219), up 61% from 2020.
Standardized measure of discounted future net cash flows rose to $304.4M in 2021 from $42.4M in 2020, driven by price gains and merged Egypt concession.
Egypt proved oil reserves more than doubled to 12,524 MBbls due to positive revisions from the Merged Concession Agreement.
Canadian proved natural gas reserves grew to 16,579 MMcf (from 12,044 MMcf) and NGLs to 2,688 Mboe (from 2,086 Mboe).
Historical financials cover years ended Dec 31, 2021 and 2020, providing detail on acquired assets post-merger.

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