VAALCO ENERGY INC. ANNOUNCES SALE OF CRUDE OIL
VAALCO ENERGY INC. ANNOUNCES SALE OF CRUDE OIL HOUSTON, Sept. 17 /PRNewswire/ -- VAALCO Energy Inc.
(Vancouver: VEI) announced the sale of a total of 1,500,940 barrels of crude oil achieved in four liftings from the West Linapacan oil field.
West Linapacan field, located offshore Palawan Island, Republic of the Philippines, began oil production May 29, 1992. The 33.5 API gravity crude has been exported to establish its marketability and value in the world market. Price for the 1,500,940 barrels averaged $17.08/barrel. Monthly liftings of an estimated 450,000 bbl. volume are scheduled through the remainder of 1992. VAALCO Energy Inc. has a 31.0 percent working interest and a 39.50 percent revenue interest in the field. -0- 9/17/92 /CONTACT: W. Russell Scheirman of VAALCO Energy, 713-963-8869/ (VEI.) CO: VAALCO Energy Inc. ST: Texas IN: OIL SU:
JL -- LA019 -- 0584 09/17/92 11:09 EDT
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|Date:||Sep 17, 1992|
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