Exhibit 21.1

<TABLE>
<CAPTION>

Subsidiary Name                         Business   Ownership     Date and State of Incorporation
- ---------------                         --------   ---------     -------------------------------
<S>                                      <C>        <C>          <C>
VAALCO ENERGY (USA), INC.                Energy      100%           10/16/96       Delaware
VAALCO Energy (Gabon), Inc.              Energy      100%            6/14/95       Delaware
VAALCO Gabon (Etame), Inc.               Energy      100%            6/14/95       Delaware
VAALCO Production (Gabon), Inc.          Energy      100%            6/14/95       Delaware
Alcorn (Philippines), Inc.               Energy      100%            2/28/86       Delaware
Alcorn (Production) Philippines, Inc.    Energy      100%            2/28/86       Delaware

</TABLE>