Winning Stock Forecast: VAALCO Energy, Inc. (NYSE: EGY) Returns up to 174.55% in 3 months

(Source: Wikipedia)

VAALCO Energy, Inc., an independent energy company, acquires, explores for, develops, and produces crude oil and natural gas. The company holds Etame production sharing contract related to the Etame Marin block located offshore the Republic of Gabon in West Africa. It also owns interests in an undeveloped block offshore Equatorial Guinea, West Africa. VAALCO Energy, Inc. was founded in 1984 and is headquartered in Houston, Texas.

The reason lies in the company’s outstanding growth results in Q1 2018 with the following highlights:

Completed Workover operations on the Avouma 2H and South Tchibala 1-HB wells

These workovers were conducted safely and efficiently with no injuries or environmental incidents. The completed workover program was within cost guidance, adding 1,100 Barrels of Oil Per Day (BOPD) in net production capabilities. This provides investors with greater confidence in future production capabilities.

Higher sales

Production for the second quarter averaged 3,549 barrels of oil per day net and sold for $74.53/barrel, higher than the $66.86/barrel in Q1 2018. Net production expense excluding workovers also decreased from $27.17 in Q1 2018 to $26.08 in Q2 2018.

Paid off all outstanding debt balance

VAALCO has no debt on the balance sheet for the first time since June 30, 2014.

On May 4th, I Know First AI Algorithm gave a bullish 3 month forecast on VAALCO Energy, Inc. (NYSE: EGY). The Forecast shows a signal of 58.48 and a predictability of 0.46. In agreement with the forecast, EGY has returned 174.55% over the three month period, from $1.11 to $3.02 per share, demonstrating the accuracy of the I Know First Algorithm.

IKF algorithm forecast performance

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