Vaalco Energy Inc.

VAALCO employs over one hundred people in total on two continents. About half of this number is located in Gabon supporting our exploration and production activities. In Angola, VAALCO employs approximately ten people taking care of the exploration and administrative matters in that country. The Houston headquarters employs approximately forty people of whom nearly thirty are highly experienced technical staff with disciplines in production engineering, reservoir engineering, facilities engineering, civil and electrical engineering, geology, geophysics, and drilling.  The Management team is comprised of four officers with a combined service of more than 60 years of VAALCO service, plus three vice-presidents heading up the exploration, production and legal areas. All seven members of the Management team had significant major industry experience prior to joining VAALCO.  The Company’s Board of Directors is comprised of the CEO, the President/COO and four non-executive members. All members of the Board of Directors are elected to one-year terms.