DFAN14A: Definitive additional proxy soliciting materials filed by non-management including Rule 14(a)(12) material
Published on May 8, 2008
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.
20549
SCHEDULE 14A
(Rule
14a-101)
INFORMATION
REQUIRED IN PROXY STATEMENT
SCHEDULE
14A INFORMATION
Proxy
Statement Pursuant to Section 14(a) of the Securities Exchange Act of
1934
(Amendment
No. )
Filed by
the Registrant ¨
Filed by
a Party other than the Registrant x
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appropriate box:
o Preliminary
Proxy Statement
¨ Confidential,
for Use of the Commission Only (as permitted by Rule14a-6(e)(2))
¨ Definitive
Proxy Statement
x Definitive
Additional Materials
o Soliciting
Material Under Rule 14a-12
|
VAALCO
ENERGY, INC.
|
|
(Name
of Registrant as Specified in Its Charter)
|
|
NANES
DELORME PARTNERS I LP
NANES
BALKANY PARTNERS LLC
NANES
BALKANY MANAGEMENT LLC
JULIEN
BALKANY
DARYL
NANES
LEONARD
TOBOROFF
CLARENCE
COTTMAN III
|
|
(Name
of Persons(s) Filing Proxy Statement, if Other Than the
Registrant)
|
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of Filing Fee (Check the appropriate box):
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fee required.
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0-11.
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|
|
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box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2)
and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement
number, or the form or schedule and the date of its filing.
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Filed:
On May 7,
2008, Nanes Delorme Partners I LP (“Nanes Delorme Partners”), together with the
other participants named herein, filed with the Securities and Exchange
Commission (“SEC”) a definitive proxy statement and an accompanying GOLD proxy
card to be used to solicit votes for the election of its nominees at the 2008
annual meeting of stockholders of VAALCO Energy Inc., a Delaware
corporation.
Item 1:
On May 8, 2008, Nanes Delorme Partners issued the following press
release:
Press Release
NANES
DELORME PARTNERS RESPONDS TO VAALCO’S FALSE AND
MISLEADING
LETTER
Company
is Fabricating Information to Distract Stockholders from Poor
Performance
NEW YORK, NY – MAY 8, 2008 –
Nanes Delorme Partners I L.P. (“Nanes Delorme Partners”) commented on today’s
letter to stockholders from VAALCO Energy, Inc. (“VAALCO” or the “Company”)
(NYSE: EGY).
“Nanes
Delorme Partners, an independent hedge fund with multiple investments, invested
in VAALCO because the company is significantly undervalued and has been severely
mismanaged. We have always been clear that proactive steps, like a
review of strategic alternatives, is necessary to address the issues negatively
affecting VAALCO’s stock price because the current management and Board seem
unwilling or unable to eliminate the significant valuation gap that
exists.
“Today’s
letter from the Company to stockholders shows that the incumbent Board and
management are resorting to scare tactics and false and misleading statements to
distract stockholders from their track-record of disappointing stock
performance, poor operational and technical capabilities, unfriendly corporate
governance and an overall lack of commitment to enhancing stockholder
value.
“If the
Company had committed to doing its due diligence, it would have known that
Pilatus Energy SA is a privately held Swiss investment company whose business is
pursuing either public or private investments directly or indirectly in a
variety of oil and gas companies, securities or properties around the world and
that Mr. Le Floch-Prigent is not a shareholder, director, appointed officer, nor
employee of Pilatus Energy SA. Pilatus Energy SA is one of several limited
partners that participate in the returns generated by Nanes Delorme Partners’
variety of investments in public securities, and is not a ‘secret partner’ as
VAALCO falsely claims.
“Unlike
VAALCO, Nanes Delorme Partners has fully complied with all SEC
requirements. VAALCO, however, has violated federal securities laws
in the preparation and mailing of its proxy.
“The
choice for VAALCO stockholders is simple; they can support the status quo and
underperformance or vote for a minority slate of directors with significant oil
and gas industry experience who are committed to corporate governance reforms
and maximizing stockholder value.”
About
Nanes Delorme Partners I LP
Nanes
Delorme Partners I LP is U.S.-based hedge fund that invests primarily in the oil
and gas exploration and production sector. Nanes Delorme Partners I LP pursues
active investments in publicly traded companies that it believes are trading at
a significant discount to their intrinsic values or where one or more potential
catalysts exist that could materially unlock the inherent value of those
companies.
The
General Partner of Nanes Delorme Partners I LP is Nanes Balkany Partners
LLC.
###
Contact:
Sard
Verbinnen & Co.
Paul
Caminiti/Dan Gagnier/Jane Simmons
212-687-8080
Source: Nanes Delorme Partners I
L.P.