UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13G
Under the Securities Exchange Act of 1934
VAALCO Energy, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
91851C201
(CUSIP Number)
March 17, 2005
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
----------------
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934 ("Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 14 Pages
CUSIP No. 91851C201 13G Page 2 of 14 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
GLG North American Opportunity Fund
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
4,407,969
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
4,407,969
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
4,407,969
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.88%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 91851C201 13G Page 3 of 14 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
GLG European Long Short Fund
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
4,407,969
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
4,407,969
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
4,407,969
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.88%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 91851C201 13G Page 4 of 14 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
GLG Partners LP
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
England
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
4,407,969
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
4,407,969
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
4,407,969
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.88%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 91851C201 13G Page 5 of 14 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
GLG Partners Limited
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
England
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
4,407,969
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
4,407,969
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
4,407,969
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.88%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 91851C201 13G Page 6 of 14 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Noam Gottesman
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
4,407,969
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
4,407,969
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
4,407,969
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.88%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 91851C201 13G Page 7 of 14 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Pierre Lagrange
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Belgium
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
4,407,969
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
4,407,969
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
4,407,969
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.88%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 91851C201 13G Page 8 of 14 Pages
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(1) NAMES OF REPORTING PERSONS I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS
Philippe Jabre
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
France
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
4,407,969
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
4,407,969
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
4,407,969
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.88%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 91851C201 13G Page 9 of 14 Pages
Item 1.
(a) Name of Issuer
VAALCO Energy, Inc., a Delaware corporation (the "Company").
(b) Address of Issuer's Principal Executive Offices
4600 Post Oak Place, Suite 309
Houston, Texas 77027
Item 2(a). Name of Person Filing
Item 2(b). Address of Principal Business Office
Item 2(c). Citizenship
GLG North American Opportunity Fund
c/o GLG Partners LP
1 Curzon Street
London W1J 5HB
England
Citizenship: Cayman Islands
GLG European Long Short Fund
c/o GLG Partners LP
1 Curzon Street
London W1J 5HB
England
Citizenship: Cayman Islands
GLG Partners LP
1 Curzon Street
London W1J 5HB
England
Citizenship: England
GLG Partners Limited
c/o GLG Partners LP
1 Curzon Street
London W1J 5HB
England
Citizenship: England
Noam Gottesman
c/o GLG Partners LP
1 Curzon Street
London W1J 5HB
England
Citizenship: United States
Pierre Lagrange
c/o GLG Partners LP
1 Curzon Street
London W1J 5HB
England
Citizenship: Belgium
CUSIP No. 91851C201 13G Page 10 of 14 Pages
Philippe Jabre
c/o GLG Partners LP
1 Curzon Street
London W1J 5HB
England
Citizenship: France
Item 2(d) Title of Class of Securities
Common Stock, par value $0.10 per share ("Common Stock")
Item 2(e) CUSIP Number
91851C201
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or
(c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C.
78o).
(b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15
U.S.C. 78c).
(d) [ ] Investment company registered under Section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with Rule
13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with Rule
13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box. [X]
Item 4. Ownership
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
CUSIP No. 91851C201 13G Page 11 of 14 Pages
As of the date hereof, each Reporting Person may be deemed the
beneficial owner of (i) 1,507,460 shares of Common Stock owned by GLG North
American Opportunity Fund, a Cayman Islands limited liability company ("GLG
North American Opportunity Fund"), (ii) 2,896,740 shares of Common Stock owned
by GLG European Long Short Fund, a Cayman Islands company ("GLG European Long
Short Fund") and (iii) 3,769 shares of Common Stock owned by a managed account
of GLG Partners LP, an English limited partnership ("GLG Partners LP") for which
GLG Partners LP has voting and dispositive discretion.
GLG Partners LP acts as the investment manager of GLG North
American Opportunity Fund and GLG European Long Short Fund and has voting and
dispositive power over the securities held by GLG North American Opportunity
Fund and GLG European Long Short Fund. The general partner of GLG Partners LP is
GLG Partners Limited, an English limited company ("GLG Partners Limited"). The
shareholders of GLG Partners Limited are Noam Gottesman, Pierre Lagrange,
Jonathan Green, Philippe Jabre and Lehman (Cayman) Limited, a subsidiary of
Lehman Brothers Holdings, Inc., a publicly-held entity. The managing directors
of GLG Partners Limited are Noam Gottesman, Pierre Lagrange and Philippe Jabre,
and as a result, each has voting and dispositive power over the securities held
by GLG North American Opportunity Fund, GLG European Long Short Fund and the
managed account of GLG Partners LP. GLG Partners LP, GLG Partners Limited, Noam
Gottesman, Pierre Lagrange, Jonathan Green, Philippe Jabre and Lehman (Cayman)
Limited disclaim beneficial ownership of the securities held by GLG North
American Opportunity Fund, GLG European Long Short Fund and the managed account
of GLG Partners LP, except for their pecuniary interest therein.
(b) Percent of class:
Approximately 7.88% as of the date hereof. (Based on 55,963,744
outstanding shares of Common Stock calculated by adding (i) 32,994,250 shares of
Common Stock outstanding as of March 1, 2005 as reported in the Company's Annual
Report on Form 10-KSB for the fiscal year ended December 31, 2004, (ii)
18,334,250 shares of Common Stock acquired on March 17, 2005 by a certain
shareholder of the Company upon the conversion of 6,667 shares of the Company's
Convertible Preferred Stock, Series A as indicated in the Company's Current
Report on Form 8-K filed on March 22, 2005 (the "Form 8-K") and (iii) 4,635,244
shares of Common Stock acquired on March 17, 2005 by a certain shareholder of
the Company upon the exercise of a warrant as indicated in the Form 8-K.)
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
0
(ii) Shared power to vote or to direct the vote
4,407,969 shares of Common Stock.
(iii) Sole power to dispose or to direct the disposition of
0
(iv) Shared power to dispose or to direct
the disposition of
4,407,969 shares of Common Stock.
CUSIP No. 91851C201 13G Page 12 of 14 Pages
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company or
Control Person
Not applicable.
Item 8. Identification and Classification of Members of the Group
See Exhibit I.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
By signing below each of the undersigned certifies that, to the best of
its knowledge and belief, the securities referred to above were not acquired and
are not held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and are not
held in connection with or as a participant in any transaction having that
purpose or effect.
Exhibits:
Exhibit I: Joint Filing Agreement, dated as of March 29, 2005, by and among GLG
North American Opportunity Fund, GLG European Long Short Fund, GLG Partners LP,
GLG Partners Limited, Noam Gottesman, Pierre Lagrange and Philippe Jabre.
CUSIP No. 91851C201 13G Page 13 of 14 Pages
SIGNATURES
After reasonable inquiry and to the best of its knowledge and belief, each
of the undersigned certifies that the information with respect to it set forth
in this statement is true, complete, and correct.
Dated: March 29, 2005
GLG NORTH AMERICAN OPPORTUNITY FUND GLG EUROPEAN LONG SHORT FUND
By: GLG Partners LP, By: GLG Partners LP,
as its Investment Manager as its Investment Manager
By: GLG Partners Limited, By: GLG Partners Limited,
as its General Partner as its General Partner
/s/ Noam Gottesman /s/ Noam Gottesman
_____________________________ _____________________________
Name: Noam Gottesman Name: Noam Gottesman
Title: Managing Director Title: Managing Director
/s/ Victoria Parry /s/ Victoria Parry
_____________________________ _____________________________
Name: Victoria Parry Name: Victoria Parry
Title: Senior Legal Counsel Title: Senior Legal Counsel
GLG PARTNERS LP GLG PARTNERS LIMITED
By: GLG Partners Limited,
as its General Partner
/s/ Noam Gottesman /s/ Noam Gottesman
_____________________________ _____________________________
Name: Noam Gottesman Name: Noam Gottesman
Title: Managing Director Title: Managing Director
/s/ Victoria Parry /s/ Victoria Parry
_____________________________ _____________________________
Name: Victoria Parry Name: Victoria Parry
Title: Senior Legal Counsel Title: Senior Legal Counsel
NOAM GOTTESMAN PIERRE LAGRANGE
/s/ Noam Gottesman /s/ Pierre Lagrange
_____________________________ _____________________________
PHILIPPE JABRE
/s/ Philippe Jabre
_____________________________
CUSIP No. 91851C201 13G Page 14 of 14 Pages
JOINT FILING AGREEMENT
This will confirm the agreement by and among the undersigned that the Schedule
13G filed with the Securities and Exchange Commission on or about the date
hereof with respect to the beneficial ownership by the undersigned of the Common
Stock, $0.10 par value, of VAALCO Energy, Inc., a Delaware corporation, is being
filed, and all amendments thereto will be filed, on behalf of each of the
persons and entities named below in accordance with Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended. This Agreement may be executed in
two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.
Dated as of March 29, 2005
GLG NORTH AMERICAN OPPORTUNITY FUND GLG EUROPEAN LONG SHORT FUND
By: GLG Partners LP, By: GLG Partners LP,
as its Investment Manager as its Investment Manager
By: GLG Partners Limited, By: GLG Partners Limited,
as its General Partner as its General Partner
/s/ Noam Gottesman /s/ Noam Gottesman
_____________________________ _____________________________
Name: Noam Gottesman Name: Noam Gottesman
Title: Managing Director Title: Managing Director
/s/ Victoria Parry /s/ Victoria Parry
_____________________________ _____________________________
Name: Victoria Parry Name: Victoria Parry
Title: Senior Legal Counsel Title: Senior Legal Counsel
GLG PARTNERS LP GLG PARTNERS LIMITED
By: GLG Partners Limited,
as its General Partner
/s/ Noam Gottesman /s/ Noam Gottesman
_____________________________ _____________________________
Name: Noam Gottesman Name: Noam Gottesman
Title: Managing Director Title: Managing Director
/s/ Victoria Parry /s/ Victoria Parry
_____________________________ _____________________________
Name: Victoria Parry Name: Victoria Parry
Title: Senior Legal Counsel Title: Senior Legal Counsel
NOAM GOTTESMAN PIERRE LAGRANGE
/s/ Noam Gottesman /s/ Pierre Lagrange
_____________________________ _____________________________
PHILIPPE JABRE
/s/ Philippe Jabre
_____________________________