VAALCO Energy, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 18 - Related Party Transactions

Note 18 - Related Party Transactions	12 Months Ended
Dec. 31, 2022
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	18. RELATED PARTY TRANSACTIONS On November 7, 2022, the Company promoted Thor Pruckl (“Mr. Pruckl”) to the position of Chief Operating Officer of the Company, effective November 7, 2022. On March 14, 2022, in the ordinary course of business, the Company entered into a professional services agreement (the “Services Agreement”) with J. Pruckl Holdings Ltd. (“Pruckl Holdings”), an entity owned and controlled by James Pruckl, Mr. Pruckl’s son. Under the Services Agreement, Pruckl Holdings designates James Pruckl to render project contract engineering services for the Company that include pipeline in-line data analysis, jacket structures and subsea pipeline inspections and other related services in connection with the Etame Marin block located at offshore Gabon in West Africa. As of December 31, 2022, the Company has been invoiced approximately $177 thousand in the aggregate and approximately $33 thousand was still outstanding at December 31, 2022, pursuant to the Services Agreement.

Note 18 - Related Party Transactions

12 Months Ended

Dec. 31, 2022

18. RELATED PARTY TRANSACTIONS

On November 7, 2022, the Company promoted Thor Pruckl (“Mr. Pruckl”) to the position of Chief Operating Officer of the Company, effective November 7, 2022.

On March 14, 2022, in the ordinary course of business, the Company entered into a professional services agreement (the “Services Agreement”) with J. Pruckl Holdings Ltd. (“Pruckl Holdings”), an entity owned and controlled by James Pruckl, Mr. Pruckl’s son. Under the Services Agreement, Pruckl Holdings designates James Pruckl to render project contract engineering services for the Company that include pipeline in-line data analysis, jacket structures and subsea pipeline inspections and other related services in connection with the Etame Marin block located at offshore Gabon in West Africa. As of December 31, 2022, the Company has been invoiced approximately $177 thousand in the aggregate and approximately $33 thousand was still outstanding at December 31, 2022, pursuant to the Services Agreement.