17 Dec 2012other● Neutral
SEC staff sent VAALCO a comment letter on its Form 10-K, opening a routine accounting/disclosure review cycle that VAALCO responded to in January 2013.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 July 2012production update▼ BadMajor
An activities update whose sharpest item is a setback: hydrogen sulphide detected on the Ebouri platform offshore Gabon forced two producing wells to be shut in, though the wider Etame complex held around 19,000 barrels a day. VAALCO also signed a $10 million deal for a working interest in a concession in an unnamed West African country new to it, and put a partner forward for the remaining 40% of Angola's Block 5 for Sonangol and government approval.
30 May 2012other● Neutral
An amended refiling of the prior day's report on the revised 2012 Long-Term Incentive Plan, with no new substantive information.
29 May 2012other● Neutral
After proxy advisor ISS recommended against VAALCO's proposed 2012 Long-Term Incentive Plan for transferring too much value to management, the board cut the plan's share pool from 5 million to 3 million shares and tightened other terms ahead of the shareholder vote.
12 Mar 2012annual report▲ Good
VAALCO's annual report for fiscal 2011, reporting net income of about $34.1 million, the year before it bought out Sojitz's minority stake in its Gabon holding company.
23 Mar 2011director officer appointment● Neutral
Director William S. Farish, on the board since 2004, said he would not stand for re-election at the 2011 annual meeting, unrelated to any disagreement with the company.
14 Mar 2011annual report▲ Good
VAALCO's annual report for fiscal 2010, a year it returned to profit with net income of about $37.3 million.
4 Mar 2011director officer appointment● Neutral
VAALCO appointed John J. Myers, Jr., a former energy-focused hedge fund manager, as an independent director.
16 Mar 2010annual report▼ Bad
VAALCO's annual report for fiscal 2009, a year it swung to a net loss of about $7.9 million.
1 Dec 2009other material event▲ Good
VAALCO negotiated an extension of its core Etame Marin exploration permit in Gabon to 2014, preserving its 30.35% interest in the block.
8 July 2009security holder rights change● Neutral
VAALCO's board redeemed the rights issued under its 2007 shareholder rights plan for a token $0.001-per-share payment, unwinding that earlier 'poison pill' - VAALCO would go on to adopt a second such plan in 2015 during its dispute with Group 42/BLR Partners.
30 June 2009other▲ Good
VAALCO authorized a share buyback program of up to $10 million of common stock.
16 Mar 2009annual report● Neutral
VAALCO's annual report for fiscal 2008, filed as global oil prices collapsed late in the year alongside the wider financial crisis.
1 July 2008director officer appointment● Neutral
VAALCO appointed Frederick W. Brazelton, an independent director, to its board.
2 June 2008substantial holder notice● NeutralMajor
Nanes Delorme Partners reduced its VAALCO stake to 4.8% (2.86 million shares), selling down shortly after settling its proxy contest with the company.
28 May 2008material agreement● NeutralMajor
VAALCO settled a shareholder proxy fight with Nanes Delorme Partners by agreeing to add an independent director with private equity/hedge fund experience.
14 May 2008other material event▼ BadMajor
VAALCO sued activist investors Nanes Delorme Partners and Pilatus Energy for federal securities law violations amid a 2008 proxy contest - the same investor group whose dispute was settled by the end of that month.
14 Mar 2008annual report● Neutral
VAALCO's annual report for fiscal 2007, filed under founder and CEO Robert Gerry III, describing its Gabon-focused production and West African expansion strategy.
12 Mar 2008substantial holder notice● NeutralMajor
Nanes Delorme Partners disclosed an 8% activist stake in VAALCO (4.7 million shares) - the investor group that later settled a proxy contest with the company in May 2008.
7 Feb 2008other material event● Neutral
VAALCO signed a farm-in agreement with Century Exploration (UK) Ltd. to earn a 25% working interest in a North Sea exploration well (Block 48/25c) by paying part of its roughly $20 million cost.
24 Jan 2008other material event● Neutral
VAALCO reported the results of a North Sea exploration well and gave an update on future plans there - a UK venture that would not end up becoming a lasting part of the company's portfolio, unlike its core Gabon/West Africa assets.
4 Dec 2007other● Neutral
A confidential SEC staff letter, part of a routine filing review; its specific subject can't be determined from EDGAR's public index (the document is a scanned PDF with no paired company response nearby).