VAALCO Energy Inc EGY

Energy Oil & Gas E&P

VAALCO Energy, Inc. is an independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Cote d’Ivoire, Equatorial Guinea, and Canada. It is engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids. It owns a working interest in, and is the operator of, the Etame PSC related to the Etame Marin block located offshore Gabon in West Africa. The Etame Marin block covers an area of about 46,200 gross acres located 20 miles offshore in water depths of about 250 feet. It owns an interest in an undeveloped block offshore Equatorial Guinea, West Africa. In Egypt, its interests are spread across two regions: the Eastern Desert and the Western Desert. In Harmattan, Canada, it owns production and working interests in Cardium light oil and Mannville liquids-rich gas assets. It also owns a working interest in the Baobab field in Block CI-40, offshore Cote d’Ivoire in West Africa.

NYSE:EGY - Post by User

VAALCO Energy Inc > EPS est 1Q22

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Comment by BraddockTrailon Apr 17, 2022 9:26pm

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RE:EPS est 1Q22

Upon further investigation EGY paid a negative income tax probably due to tax loss carryforwards. If it assumed that EGY would pay a 10% tax on an ongoing basis the EPS would be .36 rather than .58. Another problem with similar companies I have been following is that their 2001 earnings have been abnormally high due to impairment reversals. I think these one time extraordinary gains should be discounted.

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