 HOUSTON, Oct. 11, 2021 GLOBE NEWSWIRE -- VAALCO Energy, Inc. NYSE: EGY; LSE: EGY VAALCO or the Company today announced that it has entered into a consortium with BW Energy and Panoro Energy and the consortium has been provisionally awarded two blocks in the 12th Offshore Licensing Round in Gabon. The award is subject to concluding the terms of the production sharing contracts PSC with the Gabonese government. BW Energy will be the operator with a 37.5 working interest, with VAALCO 37.5 working interest and Panoro Energy 25 working interest as non-operating joint owners. The two blocks, G12-13 and H12-13, are adjacent to VAALCOs Etame PSC as well as BW Energy and Panoros Dussafu PSC offshore Southern Gabon, and cover an area of 2,989 square kilometers and 1,929 square kilometers, respectively. Both Etame and Dussafu have been highly successful exploration, development and production projects undertaken by the consortium members over the past 20 years with approximately 250 million barrels discovered to date. 