VAALCO Energy, Inc. Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2014

Diluted shares consist of the following:

	Three months ended June 30,				Six months ended June 30,
	2014		2013		2014		2013
Basic weighted average common stock issued and outstanding		56,950,678		57,900,809		56,905,675		57,903,871
Dilutive options		586,040		659,475		487,442		881,937
Total dilutive shares		57,536,718		58,560,284		57,393,117		58,785,808