Research from Water Tower Research, Water Tower Research

Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

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<ul><li>A diverse mix of producing assets in Gabon, Egypt, and Canada, coupled with future development projects in Equatorial Guinea and Cote d’Ivoire, positions VAALCO with an asset base that could generate substantial free cash flow to reinvest for growth and continue returning cash to shareholders in the coming years.</li><li>VAALCO closed the Svenska acquisition on April 30, 2024, for $40.2 million in cash.</li><li>The primary asset is a 27.39% non- operated working interest in the deepwater producing Baobab field in Block CI-40 offshore Cote d’Ivoire.</li></ul>

A diverse mix of producing assets in Gabon, Egypt, and Canada, coupled with future development projects in Equatorial Guinea and Cote d’Ivoire, positions VAALCO with an asset base that could generate substantial free cash flow to reinvest for growth and continue returning cash to shareholders in the coming years.VAALCO closed the Svenska acquisition on April 30, 2024, for $40.2 million in cash.The primary asset is a 27.39% non- operated working interest in the deepwater producing Baobab field in Block CI-40 offshore Cote d’Ivoire.

VAALCO Energy, Inc. - Diversified Asset Portfolio Supports Free Cash Flow