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OFFICIALS OF VAALCO ENERGY MEET WITH PHILIPPINE PRESIDENT RAMOS

 HOUSTON, Nov. 18 /PRNewswire/ -- Philippine President Fidel V. Ramos met today with officials of Houston-based VAALCO Energy, Inc. (NASDAQ: VEIX) to formally acknowledge the 1994 Work Program for Service Contract No. 14 offshore Palawan Island, the Philippines.
 VAALCO's wholly owned subsidiary, Alcorn (Production) Philippines, Inc., leads a consortium that includes eight Philippine companies that will begin drilling operations in the currently producing West Linapacan "A" field in mid-January 1994. The consortium will also deepen the West Linapacan B-1 well, a previously announced oil discovery.
 The consortium includes Alcorn (Production) Philippines, Inc., Alcorn Petroleum and Minerals Corporation, Alcorn Philippines, Inc., Balabac Oil Exploration & Minerals Corporation, Basic Petroleum & Minerals, Inc., Oriental Petroleum & Minerals Corporation, Petrofields Exploration and Development Co., Inc., Seafront Resources Corporation, The Philodrill Corporation and Unioil & Gas Development Co., Inc.
 According to C.W. Alcorn Jr., chairman and chief executive officer, the Work Program calls for an expenditure of $42,800,500 in 1994. Alcorn has been actively drilling in the Philippines since 1986.
 -0- 11/18/93
 /CONTACT: Karen Merryman, director, financial reporting/investor relations of VAALCO, 713-623-0801/
 (VEIX)


CO: VAALCO Energy, Inc. ST: Texas IN: OIL SU:

TW -- NY093 -- 6177 11/18/93 15:47 EST
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Publication:PR Newswire
Date:Nov 18, 1993
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