Good balance sheet, explo plan in place.

-38.52%

soaring oil price

From a recent Mad Money show:

"This is a company I once thought was dicey. I have been recommending this since $4, I think it's a buy with oil this high."

Nanes Delorme Partners I plans to nominate Julien Balkany, Leonard Toboroff and Clarence Cottman III for election to Vaalco's board at EGY's annual meeting. The investor reserves the right to nominate additional nominees if there are excess vacancies or if EGY increases the board's size; and it wants Vaalco to take several steps to increase shareholder value, including evaluating strategic alternatives. Nanes Delorme holds 4,700,000 shares (8%).

11.1

Nanes Delorme wants Vaalco to retain an investment bank to initiate an open-bid process to sell the company. Nanes Delorme said it has "a substantial interest" in seeing that Vaalco management and directors are strongly committed to maximizing value. It also noted "grave concerns that recent actions demonstrate the contrary." Nanes Delorme is "extremely frustrated by the major disconnect between Vaalco's depressed stock price and the underlying value of its assets." Nanes Delorme, Vaalco's largest shareholder, holds 4.7 million shares (8% of the total outstanding). See The Activist Spotlight for more details.

Kaisen approach to handling oil

Independent oil and gas producer Vaalco Energy Inc. said last Friday its board of directors has authorized the repurchase of up to $20 million of the company's stock and has adopted a stockholder rights plan.

This represents 10% of the company's current market cap. Down some 50% year to date, Vaalco sports a clean balance sheet with good growth.

The stock trades for 3x cash flow.

Oil and gas exploration company in West Africa. Under valued.

Lost money