VAALCO Energy Management

Management criteria checks 3/4

VAALCO Energy's CEO is George Maxwell, appointed in Apr 2021, has a tenure of 3.25 years. total yearly compensation is $1.98M, comprised of 27.8% salary and 72.2% bonuses, including company stock and options. directly owns 0.35% of the company’s shares, worth £1.80M. The average tenure of the management team and the board of directors is 2.4 years and 4.1 years respectively.

Key information

George Maxwell

Chief executive officer

US$2.0m

Total compensation

CEO salary percentage	27.8%
CEO tenure	3.3yrs
CEO ownership	0.4%
Management average tenure	2.4yrs
Board average tenure	4.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has George Maxwell's remuneration changed compared to VAALCO Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$64m
Dec 31 2023	US$2m	US$550k	US$60m
Sep 30 2023	n/a	n/a	US$34m
Jun 30 2023	n/a	n/a	US$35m
Mar 31 2023	n/a	n/a	US$43m
Dec 31 2022	US$2m	US$550k	US$51m
Sep 30 2022	n/a	n/a	US$68m
Jun 30 2022	n/a	n/a	US$92m
Mar 31 2022	n/a	n/a	US$83m
Dec 31 2021	US$818k	US$225k	US$81m
Sep 30 2021	n/a	n/a	US$43m
Jun 30 2021	n/a	n/a	US$20m
Mar 31 2021	n/a	n/a	US$15m
Dec 31 2020	US$108k	n/a	-US$48m

Compensation vs Market: George's total compensation ($USD1.98M) is above average for companies of similar size in the UK market ($USD1.42M).

Compensation vs Earnings: George's compensation has been consistent with company performance over the past year.

CEO

George Maxwell (58 yo)

3.3yrs

Tenure

US$1,976,425

Compensation

Mr. George Walter-Mitchell Maxwell serves as Chief Executive Officer at VAALCO Energy, Inc. since April 19, 2021. He had been an Independent Non-Executive Director at Lekoil Limited since January 8, 2021 u...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
George Maxwell	CEO & Director	3.3yrs	US$1.98m	0.35% $ 1.8m
Ronald Bain	Chief Financial Officer	3.1yrs	US$1.05m	0.10% $ 514.4k
Thor Pruckl	Chief Operating Officer	1.7yrs	US$1.42m	0.18% $ 919.6k
Matthew Powers	Executive VP	1.8yrs	US$799.43k	0.052% $ 267.4k
Lynn Willis	Interim Chief Accounting Officer & Controller	less than a year	no data	0.016% $ 82.3k
Julie Ray	Vice President of Treasury	7yrs	no data	no data
Al Petrie	Investor Relations Coordinator	no data	no data	no data

2.4yrs

Average Tenure

58yo

Average Age

Experienced Management: EGY's management team is considered experienced (2.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
George Maxwell	CEO & Director	4.1yrs	US$1.98m	0.35% $ 1.8m
Robert Gerry	Chairman Emeritus	10.1yrs	US$551.90k	no data
Andrew Fawthrop	Independent Chairman of the Board	9.8yrs	US$310.00k	0.46% $ 2.3m
Catherine Stubbs	Independent Director	4.1yrs	US$200.00k	0.14% $ 703.0k
Edward LaFehr	Independent Director	1.8yrs	US$179.00k	0.059% $ 302.0k
Fabrice Nze-Bekale	Independent Director	2.5yrs	US$190.00k	0.043% $ 220.7k

4.1yrs

Average Tenure

61yo

Average Age

Experienced Board: EGY's board of directors are considered experienced (4.1 years average tenure).

VAALCO Energy Management

Management criteria checks 3/4

Key information

Recent management updates

VAALCO Energy, Inc., Annual General Meeting, Jun 06, 2024

VAALCO Energy, Inc. Announces Executive Changes

CEO & Director recently bought UK£94k worth of stock

Less than half of directors are independent

VAALCO Energy, Inc. Announces the Promotion of Thor Pruckl to Chief Operating Officer

Matthew Powers Joins VAALCO Energy, Inc. as Executive Vice President and General Counsel

Recent updates

VAALCO Energy, Inc. Announces Successful Drilling Campaign Results in Canada

First quarter dividend of US$0.063 announced

First quarter 2024 earnings released: EPS: US$0.074 (vs US$0.032 in 1Q 2023)

VAALCO Energy, Inc. Provides Production and Sales Guidance for the Second Quarter and Full Year of 2024

VAALCO Energy, Inc. completed the acquisition of Svenska Petroleum Exploration AB from Petroswede AB for approximately $40.2 million.

VAALCO Energy, Inc., Annual General Meeting, Jun 06, 2024

VAALCO Energy, Inc. to Report Q1, 2024 Results on May 07, 2024

VAALCO Energy, Inc. Announces Executive Changes

Investor sentiment improves as stock rises 18%

Full year 2023 earnings: EPS and revenues exceed analyst expectations

Now 26% overvalued after recent price rise

VAALCO Energy, Inc. Provides Production and Sales Guidance for the First Quarter and Full Year 2024

VAALCO Energy, Inc. to Report Q4, 2023 Results on Mar 13, 2024

VAALCO Energy, Inc. entered into a sales and purchase agreement to acquire Svenska Petroleum Exploration AB from Petroswede AB for approximately $66.5 million.

Upcoming dividend of US$0.063 per share

VAALCO Energy, Inc. Declares Quarterly Cash Dividend, Payable on March 28, 2024

Upcoming dividend of US$0.063 per share at 6.0% yield

Third quarter 2023 earnings: EPS and revenues miss analyst expectations

VAALCO Energy, Inc. Provides Consolidated Production and Sales Guidance for the Fourth Quarter and Full Year 2023

VAALCO Energy, Inc. Declares Quarterly Cash Dividend, Payable on December 21, 2023

VAALCO Energy, Inc. to Report Q3, 2023 Results on Nov 07, 2023

Upcoming dividend of US$0.063 per share at 5.3% yield

Investor sentiment improves as stock rises 17%

VAALCO Energy, Inc. Provides Production and Sales Guidance for the Third Quarter of Fiscal 2023

Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

VAALCO Energy, Inc. Declares Quarterly Cash Dividend, Payable on September 22, 2023

VAALCO Energy, Inc. to Report Q2, 2023 Results on Aug 09, 2023

Price target decreased by 7.3% to UK£6.77

Price target decreased by 11% to UK£6.87

Upcoming dividend of US$0.063 per share at 6.5% yield

VAALCO Energy, Inc. Provides Production and Sales Guidance for the Second Quarter and Full Year of Fiscal 2023

First quarter 2023 earnings: EPS and revenues miss analyst expectations

VAALCO Energy, Inc. Declares Quarterly Dividend for the Second Quarter of 2023, Payable on June 23, 2023

VAALCO Energy, Inc. to Report Q1, 2023 Results on May 09, 2023

Full year 2022 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of US$0.063 per share at 5.9% yield

VAALCO Energy, Inc. Increases Cash Dividend for the First Quarter of 2023, Payable on March 31, 2023

VAALCO Energy, Inc. Provides an Operational Update Including Additional Information on the North Tchibala 2H-ST well

CEO & Director recently bought UK£94k worth of stock

Upcoming dividend of US$0.033 per share

Less than half of directors are independent

VAALCO Energy, Inc. Announces the Promotion of Thor Pruckl to Chief Operating Officer

VAALCO Energy, Inc. Provides Production Guidance for Fourth Quarter 2022

Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

VAALCO Energy, Inc. to Report Q3, 2022 Results on Nov 08, 2022

VAALCO Energy Inc. Declares Quarterly Cash Dividend for the Fourth Quarter of 2022, Payable on December 22, 2022

Matthew Powers Joins VAALCO Energy, Inc. as Executive Vice President and General Counsel

Less than half of directors are independent

VAALCO Energy, Inc. Announces Board Appointments

Price target decreased to UK£8.85

VAALCO Energy Announces Successful Drilling of North Tchibala 2H-ST Well and Provides Operational Update on FSO and Field Reconfiguration at Etame

VAALCO Energy, Inc. Announces Approval of Plan of Development for Discovery on Block P in Equatorial Guinea

VAALCO Energy Announces Approval of Plan of Development for Discovery on Block P in Equatorial Guinea

VAALCO Energy, Inc. Announces Michael Silver's Intention to Leave

Upcoming dividend of US$0.033 per share

Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

VAALCO Energy Inc. Declares Quarterly Dividend, Payable on September 23, 2022

VAALCO Energy, Inc. Revises Production Guidance for the Full Year of 2022

VAALCO Energy, Inc. to Report Q2, 2022 Results on Aug 10, 2022

VAALCO Energy, Inc. Provides Preliminary Production Guidance for the Second Quarter of 2022 and Initial Production Guidance for the Full Year 2022

VAALCO Energy, Inc. Announces Successful Completion of South Tchibala 1Hb-St Well and Provides Operational Update

Investor sentiment deteriorated over the past week

VAALCO Energy, Inc. Energy Announces Successful Drilling of South Tchibala 1HB-ST Well

Upcoming dividend of US$0.033 per share

First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

VAALCO Energy, Inc. Provides Production and Sales Guidance for the Second Quarter 2022; Reaffirms Full Year 2022 Guidance

VAALCO Energy, Inc. Declares Quarterly Dividend, Payable on June 24, 2022

VAALCO Energy, Inc. Announces Successful Avouma 3H-ST Development Well Placed on Production

VAALCO Energy, Inc., Annual General Meeting, Jun 02, 2022