VAALCO raising cash for Gabon drilling

摘要

VAALCO paid off debt as it raises cash for new development drilling off Gabon while work has started to restore production on existing wells. The US independent paid off US $7.0m of debt with the IFC and chief executive Cary Bounds said: "We are improving our financial position in anticipation of a development drilling campaign on our offshore Gabon asset in 2019."