Gulf Oil and Gas accountACCOUNT

Vaalco Receives $19 Million Payment from Sonangol

Source: www.gulfoilandgas.com 3/14/2016, Location: Africa

Share |
VAALCO Energy, Inc. received cash funds totaling $19 million from its partner in Angola, Sonangol P&P, which represents the full amount due for its share of past costs outstanding at December 31, 2015, including interest which was not previously recorded. The Company is temporarily delaying the filing of its 2015 Form 10-K to update its financial statements to reflect this positive development which meaningfully enhances liquidity.

VAALCO intends to file a Form 12b-25 Notification of Late Filing for the year ended December 31, 2015 no later than tomorrow to obtain an automatic 15 day extension to file its Form 10-K. As a result, VAALCO has postponed the issuance of its earnings release and the hosting of its conference call to discuss fourth quarter 2015 results. A release will be issued when the date and time are rescheduled.

Because of the delays discussed above, VAALCO will not participate in the 28th Annual ROTH Conference on March 16 as previously announced.

Financials and Investment News in Angola >>

Argentina >>  7/12/2018 - FMO has extended a USD 26 million long-term loan to Argentine energy company Genneia to develop two wind farms at Villalonga and Chubut Norte in the p...
Egypt >>  7/12/2018 - Egyptian General Petroleum Corp (EGPC) has hired HSBC to arrange a loan of around $1 billion, five banking sources familiar with the matter said, the ...

India >>  7/9/2018 - Cairn Energy has provided an update on its ongoing arbitration with the Government of India under the UK-India Bilateral Investment Treaty. All of the...
United States >>  7/9/2018 - Based on preliminary reporting from operating units, TGS management expects net revenues for the second quarter of 2018 to be approximately USD 158 mi...

Saudi Arabia >>  7/4/2018 - Saudi Aramco announced that it is adjusting its Asia crude oil pricing marker in an effort to increase the overall reliability of its crude oil pricin...
Morocco >>  7/2/2018 - Sound Energy, the Moroccan focused upstream gas company, is pleased to announce a placing of new ordinary shares to raise US$15 million before costs (...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Angola Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 |

More News

 

Oil & Gas Companies in Angola >>


Related Links

Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.