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VAALCO Energy, Inc. is an independent energy company principally engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids. The Company’s segments include segments Gabon and Equatorial Guinea. It holds 58.8% participating interest in the Etame Marin block, located offshore Gabon in West Africa. The Etame Marin block covers an area of approximately 46,200 gross acres located 20 miles offshore in water depths of approximately 250 feet. The operations of all segments include exploration for and production of hydrocarbons where commercial reserves have been found and developed. The Company owns an interest in an undeveloped block offshore Equatorial Guinea, West Africa. The Company conducts its operating activities in Egypt, Canada, and offshore Gabon. In Egypt, its interests are spread across two regions: the Eastern Desert, which contains the West Gharib, West Bakr and Northwest Gharib merged concessions, and the Western Desert.

NYSE:EGY - Post by User

Post by farml1234on Feb 14, 2023 8:12am
Post# 35284680

TGA earnings out , if you can find them

TGA earnings out , if you can find them

Updated fourth quarter results based on news release

Consolidated Statement of Operations for Fourth Quarter

Revenue for Fourth Quarter (TGA only after merger)

Total Revenue                                 = $102,000,000

Revenue per share                         = $.95/share

Operating Costs:

Production cost                                                $38,000,000

G&A                                                                    $4,500,000

DD&A                                                                 $13,500,000

Work Over                                                         $6,000,000

Change Over                                                     $5,000,000


Total Operating Cost                                       $67,000,000


Net Revenue      $102,000,000 - $67,000,000 =   $35,000,000

Net Income before taxes                   $35,000,000       

Tax expenses minus Rebates             $14,000,000 

Net income after taxes                      $21,000,000   

Net EPS                                              $.19/share     

Adjusted EPS                                     $.25/share     

Production and Sales in Fourth Quarter will be less than the projections presented to stockholder prior to voting on merger. The net earnings per share will be more than the Third Quarter because taxes will be offset by TGA agreement with Egypt. Cash on Hand at the end of the Fourth Quarter is estimated to be $115,000,000 after final payments on CapX.

Note look like TGA made about 35,000,000. in the forth Qt

also i found this on another board


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