EGY · VAALCO Energy, Inc.

This 8-K conveys a materially positive operational inflection for VAALCO, centered on two high-impact assets: the Etame field in Gabon and the Baobab field in Côte d’Ivoire. The Etame 14H well — drilled in an attic position within the Main Fault Block — delivered an exceptional initial production rate of 2,850 net BOPD, underpinned by 325 meters of net pay in high-quality Gamba sands with better-than-expected porosity and permeability. This result validates the company’s geological model and execution capability in mature fields, directly enhancing near-term production, cash flow, and reserve replacement. Concurrently, the Baobab FPSO has successfully returned to location after full refurbishment and is in active reinstallation — a critical milestone that keeps the Q2 2026 production restart on schedule. With no production from Baobab since its prior shutdown, resumption represents a step-change in revenue and EBITDA generation. Management explicitly frames this as a 'critical junction' where Gabon drilling success and Baobab’s return are expected to drive profitability across the remainder of 2026. While no financial results or guidance are quantified in the release, the scale and quality of the Etame 14H result — combined with the de-risking of Baobab timing — materially reduce execution risk and strengthen confidence in organic growth execution, directly supporting shareholder value creation through increased free cash flow and reserve growth without requiring external capital.