VAALCO Energy Inc (EGY): Lone Star Value Management Discloses New Position

Page 9 of 13 – SEC Filing

Item 5.

Interest in Securities of the Issuer.

The aggregate percentage of Shares reported owned by each person named herein is based upon 58,495,360 Shares outstanding as of April 6, 2016, which is the total number of Shares reported outstanding in the Issuer’s Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission on April 22, 2016.

A.	Lone Star Value Investors

(a)

As of the close of business on May 2, 2016, Lone Star Value Investors beneficially owned 3,300,000 Shares.

Percentage: Approximately 5.6%

(b)

1. Sole power to vote or direct vote: 3,300,000 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 3,300,000 4. Shared power to dispose or direct the disposition: 0

(c)

The transactions in the Shares by Lone Star Value Investors during the past 60 days are set forth in Schedule A and are incorporated herein by reference.

B.	Lone Star Value GP

(a)

Lone Star Value GP, as the general partner of Lone Star Value Investors, may be deemed the beneficial owner of the 3,300,000 Shares owned by Lone Star Value Investors.

Percentage: Approximately 5.6%

(b)

1. Sole power to vote or direct vote: 3,300,000 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 3,300,000 4. Shared power to dispose or direct the disposition: 0

(c)

Lone Star Value GP has not entered into any transactions in the Shares during the past 60 days.  The transactions in the Shares on behalf of Lone Star Value Investors during the past 60 days are set forth in Schedule A and are incorporated herein by reference.

C.	Lone Star Value Management

(a)

As of the close of business on May 2, 2016, 450,000 Shares were held in Separately Managed Account I. Lone Star Value Management, as the investment manager of Lone Star Value Investors and Separately Managed Account I, may be deemed the beneficial owner of the (i) 3,300,000 Shares owned by Lone Star Value Investors and (ii) 450,000 Shares held in Separately Managed Account I.

Percentage: Approximately 6.4%

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