NEW YORK, Oct. 6, 2015 /PRNewswire/ - Bradley Radoff (and related entities) and Group 42, Inc., who together are the beneficial owners of approximately 11.1% of the outstanding shares of Common Stock of VAALCO Energy, Inc. ("VAALCO" or the "Company") (EGY), today delivered a letter to the Board of Directors of VAALCO setting forth their concerns regarding, among other things, the Company's corporate governance, particularly the Board's recent adoption of a poison pill, bloated G&A expenses, poor capital allocation, poor decision making with respect to capital expenditures and the renewal of the CEO's employment contract. The full text of the letter is included below:

October 5, 2015

The Board of Directors
VAALCO Energy, Inc.
9800 Richmond Ave., Suite 700
Houston, TX 77042

Board members:

As you know, Bradley Radoff (and related entities) and Group 42, Inc. (together the "Group") collectively own 11.1% of the outstanding common stock of VAALCO Energy (the "Company") in comparison to 1.9% of the Company's outstanding common stock owned by the senior executive officers and you.

Under your stewardship, VAALCO has seen significant shareholder value destruction – a 77% drop in the share price in the past twelve months that exceeds the decline in the price of oil as well as the market price of the Company's peer group.  This precipitous and disproportionate decline in stockholder value is an alarming fact that has the Group very concerned as well as determined to take all necessary actions to protect the value of all stockholders' investment in the Company.