VAALCO acquisition talks and next Gabon drilling campaign

摘要

VAALCO may complete negotiations to buy new assets in West Africa by the end of the year while it is talking to partners about restarting drilling off Gabon next year.The company has no debt and US $45m in cash and was already looking at acquisitions before the downturn."In terms of the acquisition pipeline,it's as good-it's much better than it was before.We are seeing companies that are rationalising their portfolios in West Africa and choosing to divest of non-core assets.And that would fit us very well,assets that might not make sense for a large company,the assets are producing,they might have some development opportunities,"said chief executive Cary Bounds.