Etame Marin Block (Gabon) — oil project

VAALCO's flagship operated asset, a producing offshore oil complex on the ~46,200-acre Etame Marin block ~20 miles offshore Gabon in ~250ft water depth, held under a production sharing contract running to 2028 with two five-year extension options. VAALCO holds a 58.8% working interest and is operator on behalf of the Etame Consortium; the block carries a 7.5% government back-in carried interest (rising to 10% and reducing VAALCO's WI to 57.2% from June 2026). The PSC includes 13% royalties and a Profit Oil share taken in-kind by the government. Production is 100% crude oil; a 2025 infill drilling program extended the Etame Field and added new PUD locations.