|
||
(State or other jurisdiction of incorporation)
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
|
|
|
(Address of principal executive offices)
|
(Zip Code)
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock, par value $0.10
|
EGY |
London Stock Exchange |
Item 8.01 |
Other Events.
|
(a) |
Amending and restating the second full paragraph of the “The Arrangement–Opinion of Financial Advisor to VAALCO–Selected Public
Companies Analysis–TransGlobe” section of the definitive proxy statement on page 83 as follows:
|
Company |
EV/EBITDA (x)
|
|||||||||||
|
2022E
|
NTM
|
2023E
|
|||||||||
Kosmos Energy Ltd.
|
2.72
|
x
|
2.53
|
x
|
2.38
|
x
|
||||||
Energean plc
|
7.33
|
x
|
3.74
|
x
|
2.60
|
x
|
||||||
Africa Oil Corp.
|
2.06
|
x
|
2.17
|
x
|
2.24
|
x
|
||||||
Tullow Oil plc
|
2.92
|
x
|
2.91
|
x
|
2.90
|
x
|
||||||
Seplat Energy plc
|
1.99
|
x
|
2.07
|
x
|
2.15
|
x
|
||||||
BWE Energy Ltd.
|
3.34
|
x
|
1.77
|
x
|
1.25
|
x
|
||||||
i3 Energy plc
|
2.72
|
x
|
2.79
|
x
|
2.65
|
x
|
||||||
Panoro Energy ASA
|
1.93
|
x
|
1.64
|
x
|
1.44
|
x
|
||||||
Orca Energy Group
|
n/a
|
n/a
|
n/a
|
|||||||||
Pharos Energy plc
|
1.15
|
x
|
1.03
|
x
|
0.94
|
x
|
||||||
Perpetual Energy Inc.
|
1.98
|
x
|
2.16
|
x
|
2.33
|
x
|
||||||
Wentworth Resources plc
|
1.72
|
x
|
1.76
|
x
|
1.80
|
x
|
||||||
SDX Energy plc
|
0.96
|
x
|
0.89
|
x
|
0.83
|
x
|
||||||
3rd Quartile
|
2.77
|
x
|
2.60
|
x
|
2.44
|
x
|
||||||
Mean
|
2.57
|
x
|
2.12
|
x
|
1.96
|
x
|
||||||
Median
|
2.02
|
x
|
2.11
|
x
|
2.19
|
x
|
||||||
1st Quartile
|
1.88
|
x
|
1.73
|
x
|
1.39
|
x
|
(b) |
Amending and restating the second full paragraph of the “The Arrangement–Opinion of Financial Advisor to VAALCO–Selected Public
Companies Analysis–VAALCO” section of the definitive proxy statement on page 84 as follows:
|
Company |
EV/EBITDA (x)
|
|||||||||||
|
2022E
|
NTM
|
2023E
|
|||||||||
Kosmos Energy Ltd.
|
2.72
|
x
|
2.53
|
x
|
2.38
|
x
|
||||||
Energean plc
|
7.33
|
x
|
3.74
|
x
|
2.60
|
x
|
||||||
Africa Oil Corp.
|
2.06
|
x
|
2.17
|
x
|
2.24
|
x
|
||||||
Tullow Oil plc
|
2.92
|
x
|
2.91
|
x
|
2.90
|
x
|
||||||
Seplat Energy plc
|
1.99
|
x
|
2.07
|
x
|
2.15
|
x
|
||||||
BWE Energy Ltd.
|
3.34
|
x
|
1.77
|
x
|
1.25
|
x
|
||||||
Panoro Energy ASA
|
1.93
|
x
|
1.64
|
x
|
1.44
|
x
|
||||||
Orca Energy Group
|
n/a
|
n/a
|
n/a
|
|||||||||
Pharos Energy plc
|
1.15
|
x
|
1.03
|
x
|
0.94
|
x
|
||||||
Wentworth Resources plc
|
1.72
|
x
|
1.76
|
x
|
1.80
|
x
|
||||||
SDX Energy plc
|
0.96
|
x
|
0.89
|
x
|
0.83
|
x
|
||||||
3rd Quartile
|
2.87
|
x
|
2.44
|
x
|
2.35
|
x
|
||||||
Mean
|
2.61
|
x
|
2.05
|
x
|
1.85
|
x
|
||||||
Median
|
2.02
|
x
|
1.92
|
x
|
1.98
|
x
|
||||||
1st Quartile
|
1.77
|
x
|
1.67
|
x
|
1.30
|
x
|
(c) |
Amending and restating the third full paragraph of the “The Arrangement–Opinion of Financial Advisor to VAALCO–Selected Precedent
Transactions Analysis–TransGlobe” section of the definitive proxy statement on page 86 as follows:
|
Date
Announced
|
Target Name
|
Acquiror Name
|
Premium
to Last
Closing
Price
|
Enterprise
Value /
Proved
and
Probable
Reserves
($/boe)
|
Enterprise
Value /
Average
Daily
Production
($/boepd)
|
Enterprise
Value /
NTM
EBITDA
|
||||||||||||
U.K. Transactions
|
||||||||||||||||||
11/15/2019
|
Amerisur Resources plc
|
Geopark Limited
|
59
|
%
|
13.23
|
42,002
|
0.77
|
x
|
||||||||||
10/15/2019
|
Eland Oil & Gas plc
|
Seplat Energy plc
|
29
|
%
|
15.44
|
55,881
|
2.65
|
x
|
||||||||||
3/20/2019
|
Ophir Energy plc
|
Medco Energi Internasional PT
|
73
|
%
|
10.69
|
24,944
|
2.53
|
x
|
||||||||||
11/26/2018
|
Faroe Petroleum plc
|
DNO ASA
|
34
|
%
|
11.13
|
91,132
|
4.07
|
x
|
||||||||||
Canadian Transactions
|
||||||||||||||||||
12/9/2020
|
TORC Oil & Gas Ltd.
|
Whitecap Resources Inc.
|
-1
|
%
|
8.42
|
48,985
|
7.59
|
x
|
||||||||||
11/9/2021
|
Storm Resources Ltd.
|
Canadian Natural Resources Ltd.
|
7
|
%
|
4.51
|
36,755
|
3.78
|
x
|
||||||||||
8/10/2020
|
Painted Pony Energy Ltd.
|
Canadian Natural Resources Ltd.
|
17
|
%
|
0.50
|
11,716
|
9.54
|
x
|
||||||||||
3rd Quartile
|
60
|
%
|
12.18
|
52,433
|
5.83
|
x
|
||||||||||||
Mean
|
46
|
%
|
9.13
|
44,488
|
4.42
|
x
|
||||||||||||
Median
|
32
|
%
|
10.69
|
42,002
|
3.78
|
x
|
||||||||||||
1st Quartile
|
15
|
%
|
6.47
|
30,850
|
2.59
|
x
|
VAALCO Energy, Inc.
|
|||
(Registrant)
|
|||
Date: September 19, 2022
|
|||
By:
|
/s/ Jason Doornik
|
||
Name:
|
Jason Doornik
|
||
Title:
|
Chief Accounting Officer and Controller
|