Replies to post #260 on Vaalco Energy (EGY)

[eFinanceMarkets]

$EGY Vaalco Energy forced to shut-in well offshore Gabon

Vaalco Energy (EGY -2.2%) is lower today after reporting it shut in a well off Gabon because of problems with the electrical submersible pump months after bringing it back online.

EGY says the electrical submersible pump in the South Tchibala 2-H well failed, resulting in the well being temporarily shut-in; the well was producing ~1,300 gross bbl/day of oil (390 bbl/day net to the company) before being shut-in.

EGY says it does not plan to change its annual production guidance as a result of the shut-in.

[GBoone]

Sure hope you avoided this. Last time EGY closed above $1 was 5/31/'17.
Last time above $2, Nov., 2015. Many problems to resolve. With oil
climbing $6 per barrel, YTD, this may look promising but I would be cautious.
Good Luck to all.....