VAALCO Energy, Inc. (EGY) Reports Results at Exploratory Well in Gabon
VAALCO Energy, Inc. announced that an exploration well located offshore Gabon encountered hydrocarbons at a total depth of approximately 9000 feet. The Southeast Etame No. 1 well found 16 feet of oil-bearing sands in the Gamba sandstone formation. The well is located in the Etame Development Area, in which VAALCO Energy, Inc. has a 28.07% net interest. The Etame Development Area is approximately 1,186 square miles. VAALCO Energy, Inc. said that the company will drill a sidetrack well to confirm the discovery, and the sidetrack well will take 22 days to drill. The company is also investigating the Dentale sand…