VAALCO ENERGY INC /DE/ — Director's Dealing 2007

Dec 12, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VAALCO ENERGY INC /DE/ (EGY)
CIK: 0000894627
Period of Report: 2007-12-11

Reporting Person: GERRY ROBERT L III (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-12-11	Common Stock	M	666667	$1.16	Acquired	1475998	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-12-11	non-qualified Stock Option (right to buy)	$1.16	M	666667	Disposed	2007-12-15	Common Stock (666667)	Direct