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Exhibit 99.1

VAALCO ENERGY, INC. ANNOUNCES

FOURTH QUARTER AND FULL YEAR 2017 RESULTS



REPORTS  $3.5 MILLION IN INCOME FROM CONTINUING OPERATIONS, OR $0.06 PER DILUTED SHARE



HOUSTON –March 7, 2018 – VAALCO Energy, Inc. (NYSE: EGY) today reported operational and financial results for the fourth quarter and full year of 2017.  



Highlights and Recent Key Items:

·

Reported income from continuing operations of $3.5 million ($0.06 per diluted share) for the fourth quarter of 2017 compared with a loss from continuing operations of $3.4 million ($0.06 per diluted share) in the same period of 2016 and a loss from continuing operations of $0.1 million ($0.00 per diluted share) in the third quarter of 2017;

·

Reported income from continuing operations of $10.3 million ($0.17 per diluted share) for the full year of 2017 compared with a loss from continuing operations of $18.3 million ($0.31 per diluted share) in the same period of 2016;   

·

Generated operating income of $2.5 million in the fourth quarter of 2017,  which was 205% higher compared with $0.8 million in the same period in 2016;

·

Grew Adjusted EBITDAX to $3.9 million, up 83% from $2.2 million in the fourth quarter of 2016;

·

Produced an average of 3,957 net barrels of oil per day (BOPD) in the fourth quarter of 2017,  slightly below the guidance range, despite two electrical submersible pump (ESP) failures on the Avouma platform in the quarter;

·

Realized pricing of $59.89 per barrel of oil in the fourth quarter of 2017 compared with $51.10 per barrel in the third quarter of 2017 and $41.88 per barrel in the fourth quarter of 2016;

·

Reduced debt by $10 million in 2017, resulting in total debt (principal amount) at year-end 2017 of $9.2 million;

·

Grew unrestricted cash balance from $19.7 million at December 31, 2017 to greater than $26.0 million as of February 28, 2018 (this balance has been adjusted to exclude a non-operating partner’s advance of $6.6 million for March 2018 joint operating agreement expenditures);

·

Projecting significant increases in first quarter 2018 sales and revenue compared to fourth quarter 2017, due to stronger Brent pricing, no hedges in place for 2018 and year-end split lifting; (split lifting resulted in approximately 34% of revenues for the

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The following information was filed by Vaalco Energy Inc (EGY) on Tuesday, March 20, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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