Stephane Foucaud's questions to VAALCO Energy Inc (EGY) leadership • Q2 2025
Question
In a follow-up, Stephane Foucaud of Auctus Advisors LLP asked for the number of wells planned for drilling in Egypt in the second half of 2025 and questioned why the increased activity did not result in higher CapEx guidance.
Answer
COO Thor Pruckl confirmed plans to drill an additional eight wells in Egypt in 2H 2025. CFO Ronald Bain explained that CapEx guidance remains unchanged because the increased Egypt drilling is offset by the previously announced removal of the 2025 Canadian drilling program and significant drilling cost reductions in Egypt due to improved operational efficiencies.