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VAALCO ENERGY, INC. ANNOUNCES OIL FLOW FROM WEST LINAPACAN FIELD

 VAALCO ENERGY, INC. ANNOUNCES OIL FLOW FROM WEST LINAPACAN FIELD
 HOUSTON, June 1 /PRNewswire/ -- VAALCO Energy Inc. (Vancouver: VEI) announced the West Linapacan "A" field was put on production May 30, 1992. The A-1, A-2 and A-3 wells are flowing at a combined rate of 18,868 barrels of oil per day. Each well is on a 52/64 inch choke with an average surface pressure of 630 psi. Crude oil is 33.0 degree API gravity.
 The West Linapacan field is located offshore Palawan Island, Philippines in 1142 feet of water depth. The development of the field, including drilling, completing and tie-back of the wells into a floating production storage vessel was accomplished in six months at an estimated total cost of U.S. $44.0 million.
 VAALCO has raised its share of the West Linapacan project cost by means of a combination of project debt, through the Development Bank of the Philippines and U.S. EXIM Bank, and sale of a 9.4 percent project working interest to certain Philippine corporations. VAALCO's current interest in the West Linapacan field is 39 percent.
 -0- 6/1/92
 /CONTACT: W. Russell Scheirman of VAALCO Energy, 713-963-8869/
 (VEI.) CO: VAALCO Energy Inc. ST: Texas IN: OIL SU:


KJ -- LA036 -- 5964 06/01/92 18:40 EDT
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Publication:PR Newswire
Date:Jun 1, 1992
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