9 Feb 2017substantial holder notice▼ Bad
Dimensional Fund Advisors further reduced its reported VAALCO shareholding to 1,280,325 shares (2.18% of votes).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Feb 2017listing compliance notice▲ Good
The NYSE accepted VAALCO's 18-month plan, running through May 2018, to regain compliance with its market capitalization and equity standard. VAALCO also said it had regained compliance with the $1.00 minimum share price as of January 31, 2017.
25 Jan 2017investor presentation● Neutral
VAALCO reported fourth-quarter 2016 production of about 3,650 BOEPD, above guidance, and full-year production of about 4,200 BOEPD. It said production had risen to about 4,600 BOEPD in January after Avouma workovers, and posted a new investor presentation.
3 Jan 2017director interest notice● Neutral
VAALCO ENERGY INC /DE/ Chief Executive Officer & COO Cary M Bounds received 185,185 shares and a 375,039-share option grant as part of the equity award.
3 Jan 2017director officer appointment● NeutralMajor
Cary Bounds was formally named Chief Executive Officer and joined the board effective December 29, 2016, completing his promotion from Chief Operating Officer and Interim CEO.
2 Dec 2016listing compliance notice▼ Bad
VAALCO received a separate NYSE non-compliance notice, this time for its average global market capitalization falling below the exchange's $50 million minimum.
28 Nov 2016asset acquisition disposition● Neutral
VAALCO closed its purchase of Sojitz Etame Limited's remaining 3.23% participating interest in the Etame Marin permit offshore Gabon, the last working interest Sojitz held in the concession.
28 Nov 2016substantial holder notice▲ Good
Kornitzer Capital Management increased its reported VAALCO shareholding to 5,252,525 shares.
8 Nov 2016quarterly activities report▼ Bad
VAALCO reported third-quarter 2016 operating income of $2.9 million and income from continuing operations of $0.2 million, offset by a $15.8 million loss from discontinued Angola operations, including a $15.0 million penalty accrual.
8 Nov 2016quarterly activities report▼ Bad
VAALCO reported a net loss of $15.6 million for the quarter ended September 30, 2016, driven by a $15.8 million loss from discontinued Angola operations; continuing operations earned $0.2 million.
28 Oct 2016substantial holder notice● Neutral
Lone Star Value and Jeffrey Eberwein reported holding 651,000 VAALCO shares (about 1.1%) and said they ceased to own more than 5% of the company as of October 26, 2016.
21 Oct 2016director officer appointment● Neutral
VAALCO's Vice President, General Counsel and Corporate Secretary Eric Christ resigned effective November 1, 2016.
25 Aug 2016director interest notice● Neutral
VAALCO ENERGY INC /DE/ director Alfred John Knapp Jr. bought 30,000 shares on the open market at $1.03.
12 Aug 2016listing compliance notice▼ Bad
VAALCO received a notice from the NYSE that its stock price had fallen below the exchange's $1.00 minimum average closing price requirement, giving it six months to regain compliance.
11 Aug 2016director officer appointment● Neutral
An amended 8-K disclosed that VAALCO entered a Change in Control Agreement on August 10, 2016 with Elizabeth Prochnow, its Controller and Chief Accounting Officer and Principal Financial Officer. It gives 75% of base salary as severance if terminated within six months after a change in control.
8 Aug 2016quarterly activities report▼ Bad
VAALCO's 10-Q showed a net loss of $261 thousand for the quarter ended June 30, 2016, against $5.2 million a year earlier. Operating income was $4.6 million.
8 Aug 2016quarterly activities report▼ Bad
VAALCO reported a second-quarter 2016 net loss of $0.3 million, or $0.00 per share, a sharp improvement from an $8.1 million loss in the first quarter. Operating income was $4.6 million.
3 Aug 2016director officer appointment● NeutralMajor
CEO Steven Guidry resigned effective September 1, 2016; Chief Operating Officer Cary Bounds was named Interim CEO, continuing the succession chain toward his eventual permanent appointment.
2 Aug 2016asset acquisition disposition● Neutral
VAALCO signed an agreement to acquire Sojitz Etame Limited's remaining 3.23% working interest in the Etame Marin permit offshore Gabon, a deal that closed that November.
25 July 2016director interest notice● Neutral
VAALCO ENERGY INC /DE/ Chief Operating Officer Cary M Bounds had 9,117 shares withheld for taxes on vesting stock.
6 July 2016debt financing● Neutral
VAALCO restructured its IFC loan again via a new Amended and Restated Loan Agreement.
5 July 2016production update● Neutral
VAALCO reached an agreement with drilling contractor Transocean over the remaining term of its offshore Gabon rig contract and gave an operational update.
24 June 2016auditor change● Neutral
VAALCO dismissed Deloitte & Touche as its auditor and engaged BDO USA as its independent registered public accounting firm for fiscal 2016.
10 June 2016director interest notice● Neutral
VAALCO ENERGY INC /DE/ director Alfred John Knapp Jr. bought 30,000 shares on the open market at $1.13.
6 June 2016director interest notice● Neutral
VAALCO ENERGY INC /DE/ director Steven J Pully received 71,429 shares as part of the equity award.
6 June 2016director interest notice● Neutral
VAALCO ENERGY INC /DE/ director John J Myers Jr. received 71,429 shares as part of the equity award.
6 June 2016director interest notice● Neutral
VAALCO ENERGY INC /DE/ director Alfred John Knapp Jr. received 71,429 shares as part of the equity award.
6 June 2016director interest notice● Neutral
VAALCO ENERGY INC /DE/ director Michael Keane received 71,429 shares as part of the equity award.
6 June 2016director interest notice● Neutral
VAALCO ENERGY INC /DE/ director Andrew Lawrence Fawthrop received 71,429 shares as part of the equity award.
6 June 2016agm notice● Neutral
VAALCO ENERGY INC /DE/ shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).