Investor Presentaiton
Etame: PSC Terms
Attractive PSC with 80% Cost Recovery Until 2028
Gross Production
Barrels Oil
Etame: Key Terms
Royalty
13%
Net Production
87% of gross production
80% to Sep 2028
70% thereafter
(subject to a maximum of
recoverable cost pool)
20% to Sep 2028
30% thereafter
Cost Oil
100%
X
VAALCO ENERGY, INC.
Profit Oil
Allocation per
Table
Government
of Gabon
VAALCO ENERGY, INC.
Key Terms
Government back-in - Tullow
Abandonment
Production and Development Term
7.5% carried through June 2026,
10% thereafter
Abandonment fund fully funded
through operations
10 yrs through 2028 plus
two 5 yr options
Etame: Profit Oil Split
Profit Oil Split (Gross BOPD)
Contractor
State
0 - 10,000
50%
50%
10,000 - 25,000
45%
55%
25,000 +
40%
60%
Profit oil is split based on a weighted average of production across
the different levels shown above
Slide 21View entire presentation