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VAALCO Energy Inc (EGY): Lone Star Value Management Discloses New Position

Jeffrey E. Eberwein‘s Lone Star Value Management has reported a new position in VAALCO Energy Inc (NYSE:EGY) via a recent 13D filing with the US Securities and Exchange Commission. The stake contains 3.75 million shares of VAALCO, which represent 6.4% of the outstanding stock.

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VAALCO Energy Inc (NYSE:EGY) is an independent energy company that is involved in the acquisition, exploration and production of crude oil and natural gas. It owns properties in West Africa and operates unconventional resource properties in the US. The stock lost half of its value over the last 52 weeks as the drop in oil prices put pressure on it. VAALCO Energy is expected to release its financial results for the last quarter on Thursday and analysts expect a net loss of $0.09 per share on revenue of $11.66 million, which would represent a 36% decline year-over-year. In March, National Securities cut its price target on VAALCO Energy’s stock to $2.00, maintaining the ‘Neutral’ rating.

Overall, seven funds among those we track reported long positions in VAALCO Energy Inc (NYSE:EGY) as of the end of 2015. Billionaire David E. Shaw’s D E Shaw held the largest stake, that was worth close to $900,000, followed by Renaissance Technologies, managed by Jim Simons, which reported a $400,000 position. Remaining members of the smart money that are bullish consist of Cliff Asness’ AQR Capital Management, John Overdeck and David Siegel’s Two Sigma Advisors and Ken Griffin’s Citadel Investment Group.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
LONE STAR VALUE INVESTORS 3,300,000 0 3,300,000 0 3,300,000 5.6%
LONE STAR VALUE INVESTORS GP 3,300,000 3,300,000 3,300,000 5.6%
LONE STAR VALUE MANAGEMENT 3,750,000 3,750,000 3,750,000 6.4%
JEFFREY E. EBERWEIN 3,750,000 3,750,000 3,750,000 6.4%
Jeffrey E. Eberwein
Jeffrey E. Eberwein
Lone Star Value Management

Page 1 of 13 – SEC Filing

(Rule 13d-101)
RULE 13d-2(a)
(Amendment No. )1
VAALCO Energy, Inc.
(Name of Issuer)
Common Stock, par value $0.10 per share
(Title of Class of Securities)
(CUSIP Number)
53 Forest Avenue, 1st Floor
Old Greenwich, Connecticut 06870
(203) 489-9500
53 Forest Avenue, 1st Floor
Old Greenwich, Connecticut 06870
(203) 489-9500
 (Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 22, 2016
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box .
Note.  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Rule 13d-7 for other parties to whom copies are to be sent.
(Continued on following pages)

1            The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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