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

Note 5 - Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

	*Three Months Ended March 31,*
	*2024*			*2023*
	*(in thousands)*
Net income (loss) (numerator):
Net Income	$	7,686		$	3,470
Income attributable to unvested shares		(15	)		(29	)
Numerator for basic		7,671			3,441
Loss attributable to unvested shares		15			(18	)
Numerator for dilutive	$	7,686		$	3,423

Weighted average shares (denominator):
Basic weighted average shares outstanding		103,659			107,387
Effect of dilutive securities		882			1,365
Diluted weighted average shares outstanding		104,541			108,752
Stock options and unvested restricted stock grants excluded from dilutive calculation because they would be anti-dilutive		529			195