# EDGAR Filing Document

**Accession Number:** 0000894627
**File Stem:** 0000894627-25-000031
**Filing Date:** 2025-6
**Character Count:** 42346
**Document Hash:** 94a3e17989ffa9110d67676eb16d065d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894627-25-000031.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0000894627-25-000031

**CONFORMED SUBMISSION TYPE**: SD

**PUBLIC DOCUMENT COUNT**: 11

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VAALCO ENERGY INC /DE/
- **CENTRAL INDEX KEY:** 0000894627
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 760274813
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SD
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32167
- **FILM NUMBER:** 251075080

**BUSINESS ADDRESS:**
- **STREET 1:** 2500 CITYWEST BLVD.
- **STREET 2:** SUITE 400
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77042
- **BUSINESS PHONE:** 713-623-0801

**MAIL ADDRESS:**
- **STREET 1:** 2500 CITYWEST BLVD.
- **STREET 2:** SUITE 400
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77042

**UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br>Washington, D.C. 20549**

**<u>FORM SD</u>**

**Specialized Disclosure Report**

**<u>VAALCO ENERGY, INC.</u>**<br> (Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **<u>Delaware</u>** | **<u>001-32167</u>** | **<u>76-0274813</u>** |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| **2500 CityWest Blvd. Suite 400<br><u>Houston, Texas</u>** | | **<u>77042</u>** |
| (Address of principal executive offices) | | (Zip Code) |

---

**Lynn Willis**

**Chief Accounting Officer and Controller**

**(713) 623-0801**<br> (Name and telephone number, including area code, of person to contact in connection with this report)

Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:

☐ Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, ___________.

☒ Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2024.

768102791.1 ------

**SECTION 2** - **RESOURCE EXTRACTION ISSUER DISCLOSURE**

**Item 2.01 Resource Extraction Issuer Disclosure and Report**

VAALCO Energy, Inc. (the "Company") is relying on the alternative reporting provision of Item 2.01 and providing its Report on Payments to Governments for the year ended December 31, 2024 to satisfy the requirements of Item 2.01.

The Company is subject to the United Kingdom's Reports on Payments to Governments Regulations 2014 (as amended) (the "Report on Payments to Governments") and DTR 4.3A of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules (the "UK Regulations"). The Company's Report on Payments to Governments is available on the Company's website at www.vaalco.com and also on the UK Financial Conduct Authority's National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The information contained on the websites referred to in this paragraph is not incorporated by reference into this Form SD and should not be considered part of this Form SD.

The payment disclosure required by Form SD is included as Exhibit 2.01 to this Form SD.

**SECTION 3** - **EXHIBITS**

The following exhibit is filed as part of this report.

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 2.01 | <u>[Reports on Payments to Governments for the year ended December 31, 2024](egy-20241231.htm)</u> |

---

768102791.1 ------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.

---

| | | |
|:---|:---|:---|
| | **VAALCO ENERGY, INC.** | **VAALCO ENERGY, INC.** |
| Date: June 25, 2025 | By: | */s/ Lynn Willis* |
|  | Name: | Lynn Willis |
|  | Title: | Chief Accounting Officer and Controller |

---

768102791.1

## Ex-2

![Picture1.jpg](egy-20241231_g1.jpg)

**Exhibit 2.01**

**VAALCO ENERGY, INC.** 

**REPORT ON PAYMENTS TO GOVERNMENTS FOR THE YEAR 2024**

**HOUSTON - June 25, 2025** - The following report provides an overview of payments made to governments by VAALCO Energy, Inc. and its affiliated companies (together "**Vaalco"**) for the year ending December 31, 2024 as required under the UK Reports on Payments to Government Regulations 2014 and its amendment in December 2015 and DTR 4.3A of the Financial Conduct Authority's Disclosure and Transparency Rules.

**<u>Basis for preparation</u>**

Disclosure of payments to governments by Vaalco is required with respect to payments arising from activities involving the exploration, discovery, development and extraction of oil and natural gas.

In this report:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Government payments** include payments for extractive industries made to any national, federal, regional, state, province, county, district, municipal, local or equivalent authority of a country, and includes a department, agency or entity that is state-owned or is a subsidiary of a government.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Project** means the operational activities governed by a single contract, licence, lease or similar legal agreement. Where a series of such agreements are substantially interconnected, they are treated as a single project for the purpose of establishing reporting requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Payments** are reported under the following categories:

o**Production entitlements**: This category includes the host government's share of production which is usually outlined in a production sharing agreement. It does not include the working interest production share of government-owned companies where said companies are acting as partners in a joint venture. For the year ended December 31, 2024, there were no reportable production entitlement payments to a government.

o**Taxes**: This category includes taxes paid to governments on income, profits or production related to extraction activities as defined. Payments are reported net of refunds. Consumption taxes and personal income taxes are excluded.

o**Royalties**: This category includes payments to a government for the rights to extract minerals, oil and natural gas or other materials, typically at a set percentage of revenue less any deductions that may be taken.

o**Dividends**: This category includes dividend payments other than dividends paid to a government as an ordinary shareholder of Vaalco or one of its subsidiary undertakings unless paid in lieu of production entitlements or royalties. For the year ended December 31, 2024, there were no reportable dividend payments to a government.

1950202556.2 ------

![Picture1.jpg](egy-20241231_g1.jpg)

o**Bonuses**: This category includes bonuses paid to a government for and in consideration of signature, discovery, production, awards, grants and transfers of extraction rights. This also includes bonuses related to achievement or failure to achieve certain production levels or certain targets, and discovery of additional mineral reserves/deposits.

o**Licence fees, rental fees, entry fees and other considerations for licences and/or concessions**: This category includes licence fees, surface or rental fees, and other consideration for licences and/or concessions paid to a government for access to the area where extractive operations are conducted.

o**Infrastructure improvements**: This category includes payments to a government for local development, including the improvement of infrastructure, not directly necessary for the conduct of extractive operations but mandatory pursuant to the terms of a production sharing contract or to the terms of a law relating to Vaalco's activities. For the year ended December 31, 2024, there were no reportable infrastructure improvement payments to a government.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Cash and in-kind payments** are reported on a cash basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Materiality threshold**: no materiality threshold has been applied in the preparation of this report.

Page \| 2

1950202556.2 ------

![Picture1.jpg](egy-20241231_g1.jpg)

**<u>Payments to Governments – Summary Report</u>** <sup>(1)</sup>

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Government** <br>**entity** | | **Taxes** | | **Royalties** | | **Signature, discovery and production bonuses** | | **Fees** | | **Total** |
| | **Government** <br>**entity** | | **Taxes** | | **Royalties** | | **Signature, discovery and production bonuses** | | **Fees** | | **Total** |
| **Canada** | &nbsp;&nbsp;Mountain View County |  | 714 | <sup>(2)</sup> |  |  |  |  |  |  | 714 |
|  | &nbsp;&nbsp;Government of Alberta |  |  |  | 1345 |  |  |  | 250 |  | 1595 |
|  | &nbsp;&nbsp;Alberta Petroleum and Marketing Commission |  |  |  | 1994 | <sup>(3)</sup> |  |  |  |  | 1994 |
| **Egypt** | &nbsp;&nbsp;Egyptian General Petroleum Corporation |  | 31355 |  | 104449 |  | 21200 | <sup>(4)</sup> | 400 | <sup>(5)</sup> | 157405 |
| **Equatorial Guinea** | &nbsp;&nbsp;Ministry of Mines and Hydrocarbons |  |  |  |  |  |  |  | 335 | <sup>(6)</sup> | 335 |
|  | &nbsp;&nbsp;Other | <sup>(7)</sup> |  |  |  |  |  |  | 18 | <sup>(8)</sup> | 18 |
| **Gabon** | &nbsp;&nbsp;Ministry of Hydrocarbons |  |  |  | 58553 |  |  |  |  |  | 58553 |
|  | &nbsp;&nbsp;Gabon Oil Company |  | 83642 | <sup>(9)</sup> |  |  |  |  |  |  | 83642 |
|  | &nbsp;&nbsp;Public Treasury/Other |  |  |  |  |  |  |  | 22326 | <sup>(10)</sup> | 22326 |
| **Cote d'Ivoire** | &nbsp;&nbsp;Directorate General of Hydrocarbons (DGH) |  |  |  |  |  |  |  | 413 |  | 413 |
|  | &nbsp;&nbsp;His Majesty's Revenue & Customs (HMRC) |  | 45 |  |  |  |  |  |  |  | 45 |

---

_________________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)All payments are reported in US Dollars in thousands. Actual payments made in currencies other than US Dollars have been converted. Some payments are made by providing oil (i.e., payments-in-kind): which are calculated using the sales price under the terms of the applicable sales agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)Property taxes paid to Mountain View County.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)In-kind royalty payment to the Alberta Petroleum Marketing Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)Annual modernization payment to the Egyptian General Petroleum Corporation ("EGPC") and a signing bonus related to the acquisition of Transglobe.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)Staff training fees paid to the EGPC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)Comprises contribution towards a training fund as required under the Production Sharing Contract, and rental payments for land use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)Ministries of Hydrocarbons, Commerce and Labor, the City of Malabo and the US embassy in Malabo.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)Annual registration payments and corporate social responsibility contributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)Payment in kind, lifted by the national oil company of Gabon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)Payments pursuant to company's obligations under the Production Sharing Contract for training, development of the local hydrocarbon industry, corporate social responsibility, and land leases. Payments also include amounts paid to the state related to domestic market obligations.

Page \| 3

1950202556.2

## Exhibit 2.01

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All payments are reported in US Dollars in thousands. Actual payments made in currencies other than US Dollars have been converted. Some payments are made by providing oil (i.e., payments-in-kind): which are calculated using the sales price under the terms of the applicable sales agreement.

## Exhibit 2.01

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          <link:loc xlink:type="locator" xlink:label="loc_egy_GovernmentOfAlbertaMember_a128088a-2adf-4fec-a2be-d40afdb7ec63" xlink:href="egy-20241231.xsd#egy_GovernmentOfAlbertaMember"/>
          <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_rxp_AllGovernmentsMember" xlink:to="loc_egy_GovernmentOfAlbertaMember_a128088a-2adf-4fec-a2be-d40afdb7ec63" xlink:type="arc" order="2"/>
          <link:loc xlink:type="locator" xlink:label="loc_egy_AlbertaPetroleumAndMarketingCommissionMember_fa83685b-12a6-45c8-99e0-f18eb2e07633" xlink:href="egy-20241231.xsd#egy_AlbertaPetroleumAndMarketingCommissionMember"/>
          <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_rxp_AllGovernmentsMember" xlink:to="loc_egy_AlbertaPetroleumAndMarketingCommissionMember_fa83685b-12a6-45c8-99e0-f18eb2e07633" xlink:type="arc" order="3"/>
          <link:loc xlink:type="locator" xlink:label="loc_egy_EgyptianGeneralPetroleumCorporationMember_a7164876-f8e6-4a15-9017-de9e0df556ad" xlink:href="egy-20241231.xsd#egy_EgyptianGeneralPetroleumCorporationMember"/>
          <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_rxp_AllGovernmentsMember" xlink:to="loc_egy_EgyptianGeneralPetroleumCorporationMember_a7164876-f8e6-4a15-9017-de9e0df556ad" xlink:type="arc" order="4"/>
          <link:loc xlink:type="locator" xlink:label="loc_egy_MinistryOfMinesAndHydrocarbonsMember_15061af1-5b98-4edf-ac2d-46b7abfe9ff8" xlink:href="egy-20241231.xsd#egy_MinistryOfMinesAndHydrocarbonsMember"/>
          <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_rxp_AllGovernmentsMember" xlink:to="loc_egy_MinistryOfMinesAndHydrocarbonsMember_15061af1-5b98-4edf-ac2d-46b7abfe9ff8" xlink:type="arc" order="5"/>
          <link:loc xlink:type="locator" xlink:label="loc_egy_OtherGovernmentMember_1f3f03a8-31c0-4a90-83ef-81f8a3a9f929" xlink:href="egy-20241231.xsd#egy_OtherGovernmentMember"/>
          <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_rxp_AllGovernmentsMember" xlink:to="loc_egy_OtherGovernmentMember_1f3f03a8-31c0-4a90-83ef-81f8a3a9f929" xlink:type="arc" order="6"/>
          <link:loc xlink:type="locator" xlink:label="loc_egy_MinistryOfHydrocarbonsMember_48b6494b-ef5b-40d3-b6c7-6e2e072e7c48" xlink:href="egy-20241231.xsd#egy_MinistryOfHydrocarbonsMember"/>
          <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_rxp_AllGovernmentsMember" xlink:to="loc_egy_MinistryOfHydrocarbonsMember_48b6494b-ef5b-40d3-b6c7-6e2e072e7c48" xlink:type="arc" order="7"/>
          <link:loc xlink:type="locator" xlink:label="loc_egy_GabonOilCompanyMember_476d5c86-f888-461e-8aba-a20187b8e59b" xlink:href="egy-20241231.xsd#egy_GabonOilCompanyMember"/>
          <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_rxp_AllGovernmentsMember" xlink:to="loc_egy_GabonOilCompanyMember_476d5c86-f888-461e-8aba-a20187b8e59b" xlink:type="arc" order="8"/>
          <link:loc xlink:type="locator" xlink:label="loc_egy_PublicTreasuryOtherMember_7e214056-77dd-4038-ad75-a170fec037d8" xlink:href="egy-20241231.xsd#egy_PublicTreasuryOtherMember"/>
          <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_rxp_AllGovernmentsMember" xlink:to="loc_egy_PublicTreasuryOtherMember_7e214056-77dd-4038-ad75-a170fec037d8" xlink:type="arc" order="9"/>
          <link:loc xlink:type="locator" xlink:label="loc_egy_DirectorateGeneralOfHydrocarbonsDGHMember_79a29ab3-1381-461b-93cb-b4655c10a433" xlink:href="egy-20241231.xsd#egy_DirectorateGeneralOfHydrocarbonsDGHMember"/>
          <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_rxp_AllGovernmentsMember" xlink:to="loc_egy_DirectorateGeneralOfHydrocarbonsDGHMember_79a29ab3-1381-461b-93cb-b4655c10a433" xlink:type="arc" order="10"/>
          <link:loc xlink:type="locator" xlink:label="loc_egy_HisMajestysRevenueCustomsHMRCMember_3deb49d1-efa2-48d2-9dc8-4fbe90adf241" xlink:href="egy-20241231.xsd#egy_HisMajestysRevenueCustomsHMRCMember"/>
          <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_rxp_AllGovernmentsMember" xlink:to="loc_egy_HisMajestysRevenueCustomsHMRCMember_3deb49d1-efa2-48d2-9dc8-4fbe90adf241" xlink:type="arc" order="11"/>
        </link:definitionLink>
        <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel"/>
        <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel"/>
        <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel"/>
        <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel"/>
        <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel"/>
        <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
        <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel"/>
        <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
          <link:label id="lab_egy_MinistryOfMinesAndHydrocarbonsMember_label_en-US" xlink:label="lab_egy_MinistryOfMinesAndHydrocarbonsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ministry of Mines and Hydrocarbons [Member]</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_egy_MinistryOfMinesAndHydrocarbonsMember" xlink:href="egy-20241231.xsd#egy_MinistryOfMinesAndHydrocarbonsMember"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_egy_MinistryOfMinesAndHydrocarbonsMember" xlink:to="lab_egy_MinistryOfMinesAndHydrocarbonsMember" xlink:type="arc" order="1"/>
          <link:label id="lab_egy_AlbertaPetroleumAndMarketingCommissionMember_label_en-US" xlink:label="lab_egy_AlbertaPetroleumAndMarketingCommissionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Alberta Petroleum and Marketing Commission [Member]</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_egy_AlbertaPetroleumAndMarketingCommissionMember" xlink:href="egy-20241231.xsd#egy_AlbertaPetroleumAndMarketingCommissionMember"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_egy_AlbertaPetroleumAndMarketingCommissionMember" xlink:to="lab_egy_AlbertaPetroleumAndMarketingCommissionMember" xlink:type="arc" order="1"/>
          <link:label id="lab_egy_GabonOilCompanyMember_label_en-US" xlink:label="lab_egy_GabonOilCompanyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gabon Oil Company [Member]</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_egy_GabonOilCompanyMember" xlink:href="egy-20241231.xsd#egy_GabonOilCompanyMember"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_egy_GabonOilCompanyMember" xlink:to="lab_egy_GabonOilCompanyMember" xlink:type="arc" order="1"/>
          <link:label id="lab_egy_GovernmentOfAlbertaMember_label_en-US" xlink:label="lab_egy_GovernmentOfAlbertaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Government of Alberta [Member]</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_egy_GovernmentOfAlbertaMember" xlink:href="egy-20241231.xsd#egy_GovernmentOfAlbertaMember"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_egy_GovernmentOfAlbertaMember" xlink:to="lab_egy_GovernmentOfAlbertaMember" xlink:type="arc" order="1"/>
          <link:label id="lab_egy_OtherGovernmentMember_label_en-US" xlink:label="lab_egy_OtherGovernmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Government [Member]</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_egy_OtherGovernmentMember" xlink:href="egy-20241231.xsd#egy_OtherGovernmentMember"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_egy_OtherGovernmentMember" xlink:to="lab_egy_OtherGovernmentMember" xlink:type="arc" order="1"/>
          <link:label id="lab_egy_DirectorateGeneralOfHydrocarbonsDGHMember_label_en-US" xlink:label="lab_egy_DirectorateGeneralOfHydrocarbonsDGHMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Directorate General of Hydrocarbons (DGH) [Member]</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_egy_DirectorateGeneralOfHydrocarbonsDGHMember" xlink:href="egy-20241231.xsd#egy_DirectorateGeneralOfHydrocarbonsDGHMember"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_egy_DirectorateGeneralOfHydrocarbonsDGHMember" xlink:to="lab_egy_DirectorateGeneralOfHydrocarbonsDGHMember" xlink:type="arc" order="1"/>
          <link:label id="lab_egy_MountainViewCountyMember_label_en-US" xlink:label="lab_egy_MountainViewCountyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mountain View County [Member]</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_egy_MountainViewCountyMember" xlink:href="egy-20241231.xsd#egy_MountainViewCountyMember"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_egy_MountainViewCountyMember" xlink:to="lab_egy_MountainViewCountyMember" xlink:type="arc" order="1"/>
          <link:label id="lab_country_GA_label_en-US" xlink:label="lab_country_GA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">GABON</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_country_GA" xlink:href="https://xbrl.sec.gov/country/2025/country-2025.xsd#country_GA"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_GA" xlink:to="lab_country_GA" xlink:type="arc" order="1"/>
          <link:label id="lab_egy_MinistryOfHydrocarbonsMember_label_en-US" xlink:label="lab_egy_MinistryOfHydrocarbonsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ministry of Hydrocarbons [Member]</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_egy_MinistryOfHydrocarbonsMember" xlink:href="egy-20241231.xsd#egy_MinistryOfHydrocarbonsMember"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_egy_MinistryOfHydrocarbonsMember" xlink:to="lab_egy_MinistryOfHydrocarbonsMember" xlink:type="arc" order="1"/>
          <link:label id="lab_country_CA_label_en-US" xlink:label="lab_country_CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CANADA</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_country_CA" xlink:href="https://xbrl.sec.gov/country/2025/country-2025.xsd#country_CA"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_CA" xlink:to="lab_country_CA" xlink:type="arc" order="1"/>
          <link:label id="lab_country_EG_label_en-US" xlink:label="lab_country_EG" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">EGYPT</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_country_EG" xlink:href="https://xbrl.sec.gov/country/2025/country-2025.xsd#country_EG"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_EG" xlink:to="lab_country_EG" xlink:type="arc" order="1"/>
          <link:label id="lab_egy_EgyptianGeneralPetroleumCorporationMember_label_en-US" xlink:label="lab_egy_EgyptianGeneralPetroleumCorporationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Egyptian General Petroleum Corporation [Member]</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_egy_EgyptianGeneralPetroleumCorporationMember" xlink:href="egy-20241231.xsd#egy_EgyptianGeneralPetroleumCorporationMember"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_egy_EgyptianGeneralPetroleumCorporationMember" xlink:to="lab_egy_EgyptianGeneralPetroleumCorporationMember" xlink:type="arc" order="1"/>
          <link:label id="lab_egy_PublicTreasuryOtherMember_label_en-US" xlink:label="lab_egy_PublicTreasuryOtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Treasury/Other [Member]</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_egy_PublicTreasuryOtherMember" xlink:href="egy-20241231.xsd#egy_PublicTreasuryOtherMember"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_egy_PublicTreasuryOtherMember" xlink:to="lab_egy_PublicTreasuryOtherMember" xlink:type="arc" order="1"/>
          <link:label id="lab_country_CI_label_en-US" xlink:label="lab_country_CI" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CÔTE D'IVOIRE</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_country_CI" xlink:href="https://xbrl.sec.gov/country/2025/country-2025.xsd#country_CI"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_CI" xlink:to="lab_country_CI" xlink:type="arc" order="1"/>
          <link:label id="lab_egy_HisMajestysRevenueCustomsHMRCMember_label_en-US" xlink:label="lab_egy_HisMajestysRevenueCustomsHMRCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">His Majesty's Revenue & Customs (HMRC) [Member]</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_egy_HisMajestysRevenueCustomsHMRCMember" xlink:href="egy-20241231.xsd#egy_HisMajestysRevenueCustomsHMRCMember"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_egy_HisMajestysRevenueCustomsHMRCMember" xlink:to="lab_egy_HisMajestysRevenueCustomsHMRCMember" xlink:type="arc" order="1"/>
          <link:label id="lab_country_GQ_label_en-US" xlink:label="lab_country_GQ" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">EQUATORIAL GUINEA</link:label>
          <link:loc xlink:type="locator" xlink:label="loc_country_GQ" xlink:href="https://xbrl.sec.gov/country/2025/country-2025.xsd#country_GQ"/>
          <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_GQ" xlink:to="lab_country_GQ" xlink:type="arc" order="1"/>
        </link:labelLink>
      </link:linkbase>
    </xs:appinfo>
  </xs:annotation>
  <xs:element id="egy_MountainViewCountyMember" abstract="true" name="MountainViewCountyMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="egy_GovernmentOfAlbertaMember" abstract="true" name="GovernmentOfAlbertaMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="egy_AlbertaPetroleumAndMarketingCommissionMember" abstract="true" name="AlbertaPetroleumAndMarketingCommissionMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="egy_EgyptianGeneralPetroleumCorporationMember" abstract="true" name="EgyptianGeneralPetroleumCorporationMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="egy_MinistryOfMinesAndHydrocarbonsMember" abstract="true" name="MinistryOfMinesAndHydrocarbonsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="egy_OtherGovernmentMember" abstract="true" name="OtherGovernmentMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="egy_MinistryOfHydrocarbonsMember" abstract="true" name="MinistryOfHydrocarbonsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="egy_GabonOilCompanyMember" abstract="true" name="GabonOilCompanyMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="egy_PublicTreasuryOtherMember" abstract="true" name="PublicTreasuryOtherMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="egy_DirectorateGeneralOfHydrocarbonsDGHMember" abstract="true" name="DirectorateGeneralOfHydrocarbonsDGHMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="egy_HisMajestysRevenueCustomsHMRCMember" abstract="true" name="HisMajestysRevenueCustomsHMRCMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
</xs:schema>
</XBRL>

```