Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v2.4.0.6
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 102,641 $ 130,800
Restricted cash 2,075 1,257
Receivables:    
Trade 24,502 7,961
Accounts with partners, net of allowance of $6.9 million and $6.0 million at March 31,2013 and December 31, 2012 respectively 1,268 689
Other 7,537 4,463
Crude oil inventory 259 683
Materials and supplies 325 337
Prepayments and other 2,677 2,935
Total current assets 141,284 149,125
Property and equipment - successful efforts method:    
Wells, platforms and other production facilities 188,911 188,208
Undeveloped acreage 28,657 28,657
Work in progress 53,621 38,137
Equipment and other 6,734 7,574
Property, plant and equipment, gross, Total 277,923 262,576
Accumulated depreciation, depletion and amortization (159,301) (155,968)
Net property and equipment 118,622 106,608
Other assets:    
Deferred tax asset 1,349 1,349
Restricted cash 10,874 10,874
Total assets 272,129 267,956
Current liabilities:    
Accounts payable and accrued liabilities 35,190 30,326
Accounts with partners 4,935 14,737
Total current liabilities 40,125 45,063
Asset retirement obligations 10,750 10,368
Total liabilities 50,875 55,431
Commitments and contingencies (Note 4)      
VAALCO Energy Inc. shareholders' equity:    
Common stock, $0.10 par value, 100,000,000 authorized shares, 63,167,438 and 63,135,772 shares issued with 5,257,638 and 5,257,638 shares in treasury at March 31, 2013 and December 31, 2012, respectively 6,317 6,314
Additional paid-in capital 50,354 48,816
Retained earnings 188,558 181,370
Less treasury stock, at cost (23,975) (23,975)
Total VAALCO Energy, Inc. shareholders' equity 221,254 212,525
Total Liabilities and Equity $ 272,129 $ 267,956