VAALCO Energy is considering what to do with its opportunity providing cash pile and has released its rig off Gabon as it limits capex in the meantime. The US independent has US $46m in the bank and was looking to acquire further reserves in West Africa before the oil price rout. It is reviewing whether to continue with this strategy right now but in the meantime has been completing an appraisal and workover campaign on its Etame Marin acreage using Vantage Drilling's Topaz jack-up.
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