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 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues:        
Oil and gas sales $ 37,740 $ 37,630 $ 110,995 $ 141,734
Operating costs and expenses:        
Production expenses 12,576 5,941 27,975 18,004
Exploration expense 11,070 699 21,456 5,036
Depreciation, depletion and amortization 3,954 4,861 11,011 16,715
General and administrative expenses 1,893 2,546 7,995 9,067
Bad debt expenses 143 369 1,284 959
Impairment of proved properties   7,620   7,620
Total operating costs and expenses 29,636 22,036 69,721 57,401
Operating income 8,104 15,594 41,274 84,333
Other income (expense):        
Interest income 16 36 57 109
Other, net (72) (27) (168) 556
Total other income (expense), net (56) 9 (111) 665
Income before income taxes 8,048 15,603 41,163 84,998
Income tax expense 5,662 14,191 24,467 60,740
Net income 2,386 1,412 16,696 24,258
Less net income attributable to noncontrolling interest   (1,306)   (4,708)
Net income attributable to VAALCO Energy, Inc. $ 2,386 $ 106 $ 16,696 $ 19,550
Basic net income per share attributable to VAALCO Energy, Inc. common shareholders $ 0.04 $ 0.00 $ 0.29 $ 0.34
Diluted net income per share attributable to VAALCO Energy, Inc. common shareholders $ 0.04 $ 0.00 $ 0.29 $ 0.33
Basic weighted shares outstanding 56,600,866 57,845,800 57,464,763 57,613,624
Diluted weighted shares outstanding 57,115,614 58,947,171 58,200,208 58,784,639