8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 9, 2007
VAALCO Energy, Inc.
(Exact name of registrant as specified in its charter)
Delaware		0-20928	76-0274813
(State or other jurisdiction of incorporation)		(Commission File Number)	(I.R.S. Employer Identification No.)
4600 Post Oak Place, Suite 309			77027
(Address of principal executive offices)			(Zip Code)
Registrant’s telephone number, including area code  713-623-0801
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨	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))

Item 8.01 Other Events

On August 9, 2007 VAALCO Energy, Inc. announced its subsidiary, VAALCO UK (North Sea) Limited, executed an agreement to acquire a working interest in the UK Offshore.

Item 9.01	Financial Statements and Exhibits.
(d)	Exhibits
99.1	Press Release issued by VAALCO Energy, Inc., on August 9 , 2007.

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	VAALCO ENERGY, INC.
August 9, 2007	By:	/s/ W. Russell Scheirman
		W. Russell Scheirman
		President and Chief Financial Officer

EX-99.1

VAALCO Energy, Inc.

4600 Post Oak Place, Suite 309

Houston, Texas 77027

Tel: (713) 623-0801

Fax: (713) 623-0982

VAALCO Acquires Interest in UK North Sea Exploration Prospect

HOUSTON - (PR Newswire) - August 9, 2007 - VAALCO Energy, Inc. (EGY - NYSE) announces its subsidiary, VAALCO UK (North Sea) Limited, has executed an agreement whereby it will acquire through farm-in from Bow Valley Petroleum (UK) Limited a 25% working interest in the UK Offshore License P1285, Block 9/28b. The Block is located in the prolific South Viking Graben Area of the UK North Sea.

Under the terms of the agreement, VAALCO has agreed to contribute to the costs and expenses to drill and test an exploratory well to a depth of 13,000’ to evaluate the Upper Jurassic Brae Sands, thereby earning a 25% working interest in the license. Bow Valley, the Operator, intends to commence drilling as soon as possible, which may be as early as fourth quarter 2007, if a suitable rig is available. The agreement is subject to final approval by the UK Department for Business, Enterprise and Regulatory Reform.  

Mr. Robert L. Gerry, Chairman and Chief Executive Officer, stated “We started evaluating UK North Sea projects last year, and are very pleased to make our first deal on this outstanding opportunity. We continue to evaluate other North Sea projects in order to build this into a core area for VAALCO.”

This press release includes “forward-looking statements” as defined by the U.S. securities laws. Forward-looking statements are those concerning VAALCO’s plans, expectations, and objectives for future drilling, completion and other operations and activities. All statements included in this press release that address activities, events or developments that VAALCO expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements include future production rates, completion and production timetables and costs to complete well. These statements are based on assumptions made by VAALCO based on its experience perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond VAALCO’s control. These risks include, but are not limited to, inflation, lack of availability goods, services and capital, environmental risks, drilling risks, foreign operational risks and regulatory changes. Investors are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. These risks are further described in VAALCO’s annual report on form 10K/SB for the year ended December 31, 2006 and other reports filed with the SEC which can be reviewed at www.sec.gov, or which can be received by contacting VAALCO at 4600 Post Oak Place, Suite 309, Houston, Texas 77027, (713) 623-0801.

For further information contact:

W. Russell Scheirman

President

713-623-0801