Vaalco Advances to Second Exploration Phase at Côte d'Ivoire CI-705
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HOUSTON – November 09, 2026 -- Vaalco Energy has won government approval to move into the Second Exploration Phase at Block CI-705 offshore Côte d'Ivoire, committing to drill an exploration well by the end of 2028.
Vaalco completes First Exploration Phase work commitments at CI-705
The company finished the evaluation and interpretation of existing seismic and well data, which made up the First Exploration Phase. Vaalco, listed on the NYSE and the London Stock Exchange under the symbol EGY, said the results encouraged it to progress to the next phase.
Vaalco farmed into CI-705 in March 2025 and became operator with a 70% working interest.
Second phase requires seismic reprocessing, 25% relinquishment and a well by 2028
The Second Exploration Phase commitment has three elements: