VAALCO Energy Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced the filing of a $150 million shelf registration statement on Form S-3 (the “Shelf Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”).

If and when declared effective by the SEC, the Shelf Registration Statement will allow the Company the flexibility to offer and sell, from time to time, up to $150 million of common stock, preferred stock, depositary shares, warrants and/or units in one or more offerings and in any combination, on a registered basis in the U.S. The specific securities and terms of each such future offering of securities, if any, along with the intended use of any net proceeds therefrom, would be described in a prospectus supplement filed with the SEC at the time of any such offering. Once declared effective by the SEC, the shelf registration statement will be in effect for three years, or such shorter period that the securities registered under the shelf registration statement have been issued or sold.

George Maxwell, VAALCO’s Chief Executive Officer, commented, “We believe this shelf registration statement, which is a common practice with other U.S publicly-traded E&P companies, is a prudent proactive move to support our future growth objectives as the filing will provide us increased financial flexibility and more efficient access to the capital markets. We have no immediate plans for the potential issuance of the additional securities listed in the S-3. While we are primarily focused on the continued development of our interests in offshore Gabon, we continue to consider accretive acquisitions aimed at further strengthening VAALCO and growing shareholder value.”

The registration statement on Form S-3 has been filed with the SEC but is not yet effective. Securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state.