Transaction in Own Shares

Vaalco Energy Inc

12 February 2024

VAALCO Energy, Inc.

("VAALCO" or the "Company")

Transaction in own shares

VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) ("VAALCO" or the "Company") announces that, further to its announcements on November 1, 2022 and November 18, 2022 of the implementation of its share buyback program (the "Program"), the following transactions were made under the Program during the period February 1, 2024 to February 8, 2024.

Transaction date	Daily total volume (in number of shares of common stock)	Daily weighted average price of common stock acquired	Platform
February 1, 2024	50,000	4.3020	XNYS
February 2, 2024	50,000	4.1530	XNYS
February 5, 2024	50,000	4.1054	XNYS
February 6, 2024	50,000	4.1581	XNYS
February 7, 2024	50,000	4.1536	XNYS
February 8, 2024	50,000	4.1866	XNYS

All transactions under the Program were made under ISIN US91851C2017 and effected by Roth Capital Partners LLC on behalf of the Company. A full breakdown of the individual trades is attached to this announcement, and can be viewed by clicking http://www.rns-pdf.londonstockexchange.com/rns/7301C_1-2024-2-11.pdf for the trades made on February 1, 2024, http://www.rns-pdf.londonstockexchange.com/rns/7301C_2-2024-2-11.pdf for the trades made on February 2, 2024, http://www.rns-pdf.londonstockexchange.com/rns/7301C_3-2024-2-11.pdf for the trades made on February 5, 2024, http://www.rns-pdf.londonstockexchange.com/rns/7301C_4-2024-2-11.pdf for the trades made on February 6, 2024, http://www.rns-pdf.londonstockexchange.com/rns/7301C_5-2024-2-11.pdf for the trades made on February 7, 2024 and http://www.rns-pdf.londonstockexchange.com/rns/7301C_6-2024-2-11.pdf for the trades made on February 8 2024. The purpose of the Program is to reduce the share capital of the Company.

Following the transactions referred to above, VAALCO has total issued share capital of 122,503,157 common shares, of which 17,797,686 common shares are held in treasury and 1,084,671 common shares are unvested common shares, which are subject to forfeiture. Therefore, the total voting rights in the Company following the transactions referred to above are 104,705,471.

About VAALCO

VAALCO, founded in 1985 and incorporated under the laws of Delaware, is a Houston, USA based, independent energy company with production, development and exploration assets in Africa and Canada.

Following its business combination with TransGlobe in October 2022, VAALCO owns a diverse portfolio of operated production, development and exploration assets across Gabon, Egypt, Equatorial Guinea and Canada.

For Further Information

VAALCO Energy, Inc. (General and Investor Enquiries)	+00 1 713 623 0801
Website:	www.vaalco.com

Al Petrie Advisors (US Investor Relations)	+00 1 713 543 3422
Al Petrie / Chris Delange

Buchanan (UK Financial PR)	+44 (0) 20 7466 5000
Ben Romney / George Pope	VAALCO@buchanan.uk.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END