Vaalco Energy provides update on offshore Gabon drilling program

Vaalco Energy (EGY) provided an operational update on its phase three drilling program offshore Gabon. Vaalco has completed drilling the Etame West ET-14P exploration well. While the well encountered 10 meters of Gamba sands, in line with pre-drill predictions, the target zone was water-bearing. The lower portion of the well will be plugged and abandoned but the well bore will be utilized and sidetracked in the upper portion of the well to drill the ET-14H development well in the main fault block of Etame, pending partner approval. Operations are expected to be completed in April.