VAALCO Energy, Inc., announced that for the third quarter of 2007 its net income was $8.8 million or $0.15 per diluted share, compared to $13.6 million or $0.22 per diluted share for the comparable period in 2006. Third-quarter 2007 revenues were $34.8 million compared to $25.6 million in the third quarter of 2006.
VAALCO sold 472,000 net barrels of crude oil equivalent at an average price of $73.79 per barrel during the third quarter of 2007, compared to 391,000 barrels of crude oil equivalent and an average price of $65.50 per barrel in the third quarter of 2006.