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Vaalco Energy Inc on Monday provided an optimistic update on its operations in Gabon and Egypt. The Canada and Africa-focused hydrocarbon explorer noted ‘impressive’ drill results from the Ebouri-5H well, offshore the West African nation. It said that the initial daily flow rate was more than 8,000 gross barrels of oil, of which 4,700 barrels are net to Vaalco. Also offshore Gabon, the company has mobilised the rig to its SEENT platform to drill the ETBNM-3 well, where it will target gas and condensate resources in the Dentale D15 reservoir. Gas will be used for operational purposes in the field, thereby cutting down on the higher cost of diesel which is currently being shipped to the area. In Egypt, Vaalco has drilled the HE-9 well and placed it into production, reporting 26 metres of net pay in the Asl B reservoir and an initial daily flow rate of 529 barrels, which was more than the company expected before drilling. Chief Executive George Maxwell commented: ‘We are very pleased with the continued positive results from our Gabon drilling campaign...Our goal is to continue to successfully add production and reserves with the remainder of our Gabon drilling campaign. Maxwell continued: ’With the Baobab field successfully restarted and the continued successes in the Gabon and Egypt drilling campaigns, we have many positive achievements year to date, and we believe that the remainder of 2026 will be profitable. We remain focused on execution and driving meaningful growth through our organic capital programs that we believe will translate into value for our shareholders in 2026 and beyond.‘ Last week, the company resumed operations at the Baobab field on the CI-40 block offshore Ivory Coast, after a nine-month refurbishment of the Baobab floating production storage & offloading vessel in Dubai. Vaalco shares were up 2.4% to 425.00 pence on Monday morning in London and are up 55% over the past year. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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