10 March 2021
PDMR Share Dealing
VAALCO Energy, Inc. ("VAALCO" or "Company") announces that on 5 March 2021, Stock Appreciation Rights (SARs) of 210,634 common shares in the Company ("Common Shares") were exercised for David DesAutels, a person discharging managerial responsibility in the Company, in the number set out below, which was satisfied for the amount of cash set out below (such amount being net of the grant price and taxes).
| Name | Role | Nature of transaction | Number of SARs | Aggregate net cash to satisfy exercise of SARS |
| David DesAutels | EVP, Corporate Development | Exercise of SARs | 210,634 | $341,567.79 |
Option awards in the Company were exercised by David DesAutels on 5 March 2021, in the number set out below.
| Name | Role | Nature of transaction | Number of shares over which options exercised | Exercise price per share ($) | Number of shares received after withholding of shares to cover taxes and costs |
| David DesAutels | EVP, Corporate Development | Exercise of Options | 73,202 | $3.30 | 33,060 |
About VAALCO
VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.
The Company is an established operator within the region, holding a 58.8% working interest in the Etame Marin Block, located offshore Gabon, which to date has produced over 120 million barrels of crude oil and of which the Company is the operator.
For Further Information
| VAALCO Energy, Inc. (General and Investor Enquiries) | +00 1 713 623 0801
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| Website: | |
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| Al Petrie Advisors (US Investor Relations) | +00 1 713 543 3422 |
| Al Petrie / Chris Delange |
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| Buchanan (UK Financial PR) |
+44 (0) 207 466 5000 |
| Ben Romney / Chris Judd / James Husband |
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Notification of dealings in shares by PDMR's of the Company:
| 1. | Details of PDMR / PDMR Associate | |
| (a) | Name | David DesAutels |
| (b) | Position / status | EVP, Corporate Development |
| (c) | Initial notification / amendment | Initial Notification |
| 2. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| (a) | Description of the financial instrument | Stock Appreciation Rights ("SARs") and Employee Stock Option (right to buy) ("Options") |
| (b) | Nature of the transaction | Exercise of SARs and Options |
| (c) | Price(s) and volume(s) | Exercise of SARs (Gross): Price: US $3.30 Volume: 210,634 Total: US $695,092.20
Amount payable to David DesAutels following exercise of the SARs net of grant price and taxes: US $341,567.79
Exercise of Options: Price: US $3.30 Volume: 73,202 Number of shares received after withholding of shares to cover taxes and costs: 33,060 |
| (d) | Aggregated information Aggregated volume Price |
Volume: 283,836
Price: $3.30
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| (e) | Date of the transaction | 5 March 2021 |
| (f) | Place of the transaction | USA |
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