Vaalco Energy Inc 8-K, filed Mar 19, 2021
Vaalco Energy Inc (EGY)
About this 8-K
Vaalco Energy Inc filed this 8-K on March 19, 2021, reporting on events of March 16, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest reported):
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Registrant’s telephone number, including area code: (
Not Applicable
(Former Name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
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Common Stock, par value $0.10 | EGY | London Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 16, 2021, Ms. Elizabeth D. Prochnow notified VAALCO Energy, Inc. (the “Company”) of her intent to retire from her position as Chief Financial Officer (principal financial officer), effective March 31, 2021. Ms. Prochnow’s decision to retire was not related to any issues regarding financial disclosures, accounting or legal matters. Following Ms. Prochnow’s retirement, Jason J. Doornik, the Company’s Chief Accounting Officer and Controller (principal accounting officer), will serve as the Company’s principal financial officer until a replacement Chief Financial Officer is appointed.
Mr. Doornik, 51, has served as the Company’s Chief Accounting Officer and Controller since June 2019. Mr. Doornik has over 20 years of diversified accounting and finance experience, balanced among large companies and emerging companies as well as public accounting and industry experience. Prior to joining the Company, Mr. Doornik served as a consultant with Sirius Solutions from 2018 to May 2019. From 2015 to 2018, Mr. Doornik served as the Chief Accounting Officer and Controller of Fairway Energy, a Houston based midstream company. Mr. Doornik received a Bachelor’s degree in Business Administration and a Master’s degree of Professional Accountancy from the University of Texas at Austin in August 1999.
There is no family relationship between Mr. Doornik and any director or executive officer of the Company. There are no transactions between Mr. Doornik and the Company that would be required to be reported under Item 404(a) of Regulation S-K of the Securities Exchange Act of 1934, as amended.
On March 18, 2021, the Company issued a press release announcing the retirement of Ms. Prochnow. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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Exhibit No. |
| Description of Exhibit |
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| Press release, dated March 18, 2021, issued by VAALCO Energy, Inc. |
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104 |
| The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |
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SIGNATURE
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 undersigned hereunto duly authorized.
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| VAALCO Energy, Inc. | |
| (Registrant) | |
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Date: March 19, 2021 |
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| By: | /s/ Jason Doornik |
| Name: | Jason Doornik |
| Title: | Chief Accounting Officer and Controller |
Exhibit 99.1
VAALCO ENERGY, INC. ANNOUNCES RETIREMENT OF CHIEF FINANCIAL OFFICER ELIZABETH PROCHNOW
HOUSTON – March 18, 2021 – VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) today announced that Elizabeth Prochnow, its Chief Financial Officer, has elected to retire effective March 31, 2021. Ms. Prochnow’s departure is not related to any issues regarding strategy, financial disclosures, accounting or legal matters, or any disagreements with management or the Board. The Company has initiated an executive search to fill the Chief Financial Officer position. Following Ms. Prochnow’s retirement, Jason J. Doornik, VAALCO’s Chief Accounting Officer and Controller, will serve as principal financial officer until a new Chief Financial Officer has been named.
Ms. Prochnow was named Chief Financial Officer on April 1, 2019 and before that served as VAALCO’s Chief Accounting Officer since joining the Company in March 2015. Prior to joining VAALCO, Ms. Prochnow had a long and successful career with a variety of finance management positions primarily with publicly traded companies including a number of companies in the energy sector.
Cary Bounds, Chief Executive Officer, commented, “We wish Liz the very best in her retirement as she plans to spend time traveling with her husband who has also recently retired and spend more time with her family. Liz has had a very meaningful impact on VAALCO during her six years with us and has been an integral member of our management team. She played a significant role in our financial transformation in the last three years and was instrumental in our recent acquisition of additional interest in Etame. We will all miss Liz’s financial and strategic insight.”
About VAALCO
VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.
The Company is an established operator within the region, holding a 63.6% participating interest in the Etame Marin block, located offshore Gabon, which to date has produced over 120 million barrels of crude oil and of which the Company is the operator.
For Further Information
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VAALCO Energy, Inc. (General and Investor Enquiries) |
+00 1 713 623 0801 |
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Website: |
www.vaalco.com |
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Al Petrie Advisors (US Investor Relations) |
+00 1 713 543 3422 |
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Al Petrie / Chris Delange |
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Buchanan (UK Financial PR) |
+44 (0) 207 466 5000 |
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Ben Romney / Kelsey Traynor / James Husband |
VAALCO@buchanan.uk.com |
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