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

Note 5 - Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2024

	*Three Months Ended June 30,*						*Six Months Ended June 30,*
	*2024*			*2023*			*2024*			*2023*
	*(in thousands)*
Net income (loss) (numerator):
Net Income	$	28,151		$	6,752		$	35,837		$	10,222
Income attributable to unvested shares		(307	)		(27	)		(368	)		(56	)
Numerator for basic		27,844			6,725			35,469			10,166
Loss attributable to unvested shares		—			27			—			(41	)
Numerator for dilutive	$	27,844		$	6,752		$	35,469		$	10,125

Weighted average shares (denominator):
Basic weighted average shares outstanding		103,528			106,965			103,594			107,175
Effect of dilutive securities		148			648			83			875
Diluted weighted average shares outstanding		103,676			107,613			103,677			108,050
Stock options and unvested restricted stock grants excluded from dilutive calculation because they would be anti-dilutive		281			431			506			238