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) June 13, 2005

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:
o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o	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 June 13, 2005, VAALCO Energy, Inc. issued a press release announcing that its subsidiary VAALCO Gabon (Etame), Inc. had signed loan documents for a new $30 million revolving credit facility from the International Finance Corporation, the division of the World Bank that funds private investment projects.

The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.  The information contained herein and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by VAALCO Energy, Inc., whether made before or after the date hereof and regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing to this Current Report on Form 8-K.

Item 9.01     Financial Statements and Exhibits.

(c)	Exhibits
99.1	Press Release issued by VAALCO Energy, Inc., on June 13, 2005.

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.
June 13, 2005	By:	/s/  W. RUSSELL SCHEIRMAN
		W. Russell Scheirman
		President and Chief Financial Officer

EX-99.1

Exhibit 99.1

VAALCO Energy Announces $30 Million Revolving Credit Facility With the International Finance Corporation

HOUSTON, June 13 /PRNewswire-FirstCall/ -- VAALCO Energy, Inc. (Amex: EGY), (the “Company”) announced that its subsidiary VAALCO Gabon (Etame), Inc. has signed loan documents today for a new $30 million revolving credit facility from the International Finance Corporation (the “IFC”), the division of the World Bank that funds private investment projects. VAALCO Gabon is the owner of a 30.35% working interest in the Etame block, offshore Southern Gabon. 

The loan facility will support the Company’s multiyear oil exploration, development and production programs in the Etame Block, helping to sustain oil production from the block and assisting the Company’s effort to find additional reserves. The loan facility extends through October 2009 and is extendable to October 2011 by mutual consent. This is the second loan the Company has received from the IFC. 

Mr. Robert Gerry, Chairman and Chief Executive officer of VAALCO Energy stated “the IFC financing provides the Company with the capital to fast track the development of the South Tchibala, Avouma and Ebouri discoveries. The revolving nature of the facility will streamline documentation requirements for each project and will reduce overall financing costs for the development of Etame. In addition, the IFC’s affiliation with the World Bank is favored by the Gabon Government and provides a stable and transparent platform for financial dealings between the Company and the Gabon Government with respect to the terms of the Etame block Production Sharing Agreement.” 

In connection with the loan, VAALCO Gabon is working closely with the IFC to integrate all existing environmental plans and procedures into a comprehensive Environmental and Social Management System that will address the Company’s project activities on an ongoing basis. The Company is committed to sound environmental management of it Project activities and is working with the Government of Gabon on Environmental Impact Studies for its new discoveries made on the Etame block in 2004. 

Rashad Kaldany, IFC’s Director of Oil, Gas, Mining and Chemicals noted, “VAALCO has shown a strong commitment to its project in Gabon. The Company provides a good demonstration of successful foreign investment by smaller players in the country. IFC’s revolving credit facility will provide VAALCO Gabon with added financial flexibility in maintaining its investments for extending the life of oil reserves and production from its project.” 

Funding under the loan is subject to final approval of the loan agreement by the Government of Gabon, which is expected to be received later this summer. 

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, 2004 and other reports filed with the SEC which can be reviewed at http://www.sec.gov , or which can be received by contacting VAALCO at 4600 Post Oak Place, Suite 309, Houston, Texas 77027, (713) 623-0801.

SOURCE  VAALCO Energy, Inc.
          -0-                             06/13/2005
          /CONTACT:  W. Russell Scheirman of VAALCO Energy, Inc., +1-713-623-0801/
          /Photo:  NewsCom:  http://www.newscom.com/cgi-bin/prnh/20050215/VAALCOLOGO
                               AP Archive:  http://photoarchive.ap.org
                               PRN Photo Desk photodesk@prnewswire.com /
          /Web site:  http://www.sec.gov /