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Tuesday, December 14, 2010 12:55:27 PM
This is an American company that generates most of its production from outside of the United States. It has produced oil off shore Gabon for the last decade, and it's discovered a number of nearby satellite fields that have helped the company maintain consistent production.
VAALCO currently has a four-well drilling campaign going through this year. The company also recently discovered a new pocket of oil that should be developed in 2011, giving it a new source for future production needs.
Additionally, the company owns concessions both onshore Gabon and offshore Angola where it has 40% of a 1.5 million acre Block 5. While the company has not produced these new properties, it is preparing to expand its drilling campaigns to include both of these projects along with expanding their production. This gives VAALCO three paths toward organic oil production and reserve growth.
VAALCO stock has traded sideways for the last five years, as a block of large investors was liquidated into the market. This process has kept an artificial cap on the stock price, but now the company is posited to break out to new highs.
There no longer is a significant number of underwater investors or motivated sellers, so I believe the stock is poised to make a major move up from here as the implications of the dollar settle into the market.
VAALCO just reported earnings of 22 cents per share for the third quarter with revenue growing to $32 million. The company has no debt and currently holds just under $100 million dollars in cash and equivalents. So when you buy a share in this company, you are buying a market cap that has 25% of its value in cash.
I personally love it when I can find a profitable company with no debt and a huge pile of cash. I have noticed that these types of investments usually have a high degree of internal ownership. VAALCO has stable long-term management with experience in operating off shore. They helped build this company from the ground up. It has skin in the game.
This is not an offer to buy or sell securities or any kind of investment advice. Oil investment carries very high risks so consult a licensed professional making any decisions. My resume is real time on Twitter @TurnKeyOil.
Recent EGY News
- VAALCO Energy, Inc. Announces Participation in EnerCom Denver Conference • GlobeNewswire Inc. • 08/14/2024 06:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 08:02:39 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/07/2024 10:01:15 AM
- VAALCO Energy, Inc. Announces Second Quarter 2024 Results • GlobeNewswire Inc. • 08/07/2024 12:45:17 AM
- VAALCO Energy, Inc. Declares Third Quarter 2024 Dividend • GlobeNewswire Inc. • 08/06/2024 06:00:00 AM
- VAALCO Announces Posting of Interview With CEO George Maxwell on Its Web Site • GlobeNewswire Inc. • 07/29/2024 06:00:00 AM
- VAALCO Announces Timing of Second Quarter 2024 Earnings Release and Conference Call • GlobeNewswire Inc. • 07/26/2024 06:00:00 AM
- CORRECTION – VAALCO Energy, Inc. Provides Positive Additional Information Regarding Its Acquisition Of Svenska • GlobeNewswire Inc. • 07/16/2024 02:02:42 PM
- VAALCO Energy, Inc. Provides Positive Additional Information Regarding Its Acquisition Of Svenska • GlobeNewswire Inc. • 07/16/2024 06:00:00 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/12/2024 07:57:56 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/12/2024 08:51:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 08:59:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 08:59:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 08:58:50 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 08:58:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 01:22:23 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 01:20:43 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 01:17:57 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 01:14:46 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 01:12:55 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 01:11:19 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 01:09:08 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 01:08:13 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 01:07:10 AM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 06/06/2024 06:10:49 PM
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