Vaalco +5.5% after completing floating rig repairs

|By:, SA News Editor

Vaalco Energy (EGY +5.5%) surges to 52-week highs after saying scheduled maintenance on its FPSO vessel was completed ahead of schedule, allowing work to resume at the Etame Marin block off the coast of Gabon in west Africa.

EGY also says it took advantage of the down time for the floating vessel to repair other infrastructure in the same region, including replacing two electric submersible pumps on the Avouma 2-H well.

Shares are ahead nearly 6% in late trading after matching their best levels since June 2006.