Benzinga | Jun 21, 2021 05:33AM EDT

VAALCO Named Ronald Bain as CFO

VAALCO Energy, Inc. (NYSE:EGY) announced that its Board of Directors has named Ronald Bain as Chief Financial Officer effective June 21, 2021. Mr. Bain has over 25 years of oil industry experience in a variety of financial roles and has significant capital markets experience.

As previously stated, the Board believes that enhancing the Company's corporate presence in London, the primary financial and advisory hub for African energy companies, will augment the experience within VAALCO's leadership and complement the Company's supportive equity shareholder base in the U.S. The European market is an important environment for the African energy sector, with many of VAALCO's peers active within the region and the majority of transactions for North Africa and Sub-Saharan Africa assets taking place within the European financial markets. As such, the board views it as a strategically important investment to further grow its presence in London. Mr. Bain will be based in the Company's recently established London business development office, but he will split his time between London and Houston.

George Maxwell, Chief Executive Officer, commented, "We are excited to have Ron joining VAALCO as our CFO. He has significant experience in financial executive leadership roles and a history of successfully leading capital markets transactions. Ron's experience serving on the board of an E&P company, his leadership of large geographically diverse financial teams listed in both the U.S.