Transaction in Own Shares

Vaalco Energy Inc

12 December 2023

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 December 1, 2023 to December 8, 2023.

Transaction date	Daily total volume (in number of shares of common stock)	Daily weighted average price of common stock acquired	Platform
December 1, 2023	25,000	4.6724	XNYS
December 4, 2023	25,000	4.6223	XNYS
December 5, 2023	25,000	4.6035	XNYS
December 6, 2023	25,000	4.5702	XNYS
December 7, 2023	50,000	4.4667	XNYS
December 8, 2023	35,000	4.4830	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/3887W_1-2023-12-11.pdf for the trades made on December 1, 2023, http://www.rns-pdf.londonstockexchange.com/rns/3887W_2-2023-12-11.pdf for the trades made on December 4, 2023, http://www.rns-pdf.londonstockexchange.com/rns/3887W_3-2023-12-11.pdf for the trades made on December 5, 2023, http://www.rns-pdf.londonstockexchange.com/rns/3887W_4-2023-12-11.pdf for the trades made on December 6, 2023, http://www.rns-pdf.londonstockexchange.com/rns/3887W_5-2023-12-11.pdf for the trades made on December 7, 2023 and http://www.rns-pdf.londonstockexchange.com/rns/3887W_6-2023-12-11.pdf for the trades made on December 8, 2023. 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 122,460,125 common shares, of which 16,781,721 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 105,678,404.

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

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