Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Consolidated Operations (Unaudited)

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Condensed Statements of Consolidated Operations (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Revenues:    
Oil and gas sales $ 44,137 $ 45,286
Operating costs and expenses:    
Production expense 8,384 5,526
Exploration expense 6,106 853
Depreciation, depletion and amortization 3,626 5,003
General and administrative expense 3,639 3,483
Bad debt expense 879 315
Total operating costs and expenses 22,634 15,180
Operating income 21,503 30,106
Other income (expense):    
Interest income 25 41
Other, net (94) 200
Total other income (expense) (69) 241
Income before income taxes 21,434 30,347
Income tax expense 14,246 19,820
Net income 7,188 10,527
Less net income attributable to noncontrolling interest   (1,509)
Net income attributable to VAALCO Energy, Inc. $ 7,188 $ 9,018
Basic net income per share attributable to VAALCO Energy, Inc. common shareholders $ 0.12 $ 0.16
Diluted net income per share attributable to VAALCO Energy, Inc. common shareholders $ 0.12 $ 0.15
Basic weighted shares outstanding 57,906,967 57,195,037
Diluted weighted average shares outstanding 59,069,992 58,307,528