Vaalco Energy (EGY)

[spec machine]

Up another 8.6% ..... yawn!

Best part is they're doing exactly what they said they would do

built 2 platforms, installed them

workover wells, replace ESPs, maintain production, stay cash flow positive, no debt

drill and further develop the Etame resources to maximize the margins with "low cost additions"

upgrade to FSO on new lease, shifting the production component to the platforms, eliminate redundancies

SASOL purchase, "no cost" additional production, primary E&P costs are fixed

$5.50's now, still has legs and several additional upside triggers possible near term,

- Equatorial Guinea - potential high impact drilling

- Results pending for 2022 drilling at Etame

no turning back now

spec