VAALCO Energy, Inc. (VAALCO) is a Houston-based independent energy company engaged in the acquisition, exploration, development and production of crude oil and natural gas. VAALCO owns producing properties and conducts exploration activities as operator in Gabon, West Africa and conducts exploration activities as operator in Angola, Africa. VAALCO’s international subsidiaries are VAALCO Gabon (Etame), Inc., VAALCO Production (Gabon), Inc., VAALCO Angola (Kwanza), Inc. and VAALCO UK (North Sea), Ltd. The Company produces from the Etame, Avouma and South Tchibala fields on the license. During the year ended December 31, 2008, the Etame Avouma and South Tchibala fields produced approximately 7.8 million barrels (1.9 million barrels net to the Company). Onshore Gabon, the Company has a 100% working interest in the Mutamba Iroru block located near the coast in central Gabon. The Mutamba Iroru block contains approximately 270,000 acres for exploration.