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, 2014
Mar. 31, 2013
Revenues:    
Oil and gas sales $ 28,071 $ 44,137
Operating costs & expenses    
Production expenses 9,650 8,384
Exploration expenses 11,323 6,106
Depreciation, depletion and amortization 4,160 3,626
General and administrative expenses 3,588 3,639
Bad debt expense and other expenses   879
Total operating expenses 28,721 22,634
Operating (loss) income (650) 21,503
Other income (expenses):    
Interest income 29 25
Other, net (291) (94)
Total other expenses (262) (69)
(Loss) income before income taxes (912) 21,434
Income tax expense (6,126) (14,246)
Net (loss) income $ (7,038) $ 7,188
Earnings per share - basic:    
Basic net (loss) income per share attributable to VAALCO Energy, Inc. common shareholders $ (0.12) $ 0.12
Earnings per share - diluted:    
Diluted net (loss) income per share attributable to VAALCO Energy, Inc. common shareholders $ (0.12) $ 0.12
Basic weighted-average shares outstanding 56,860,172 57,906,967
Diluted weighted-average shares outstanding 56,860,172 59,069,992