Victoria is an independent oil and gas exploration and production company with projects in Africa and the FSU. The Company’s principal assets are 95% of the Logbaba gas and condensate project in Cameroon and 100% of the West Medvezhye gas field in Siberia, Russia. Logbaba is located in Douala, the economic capital of Cameroon. West Medvezhye is situated in the prolific Yamal-Nenetsk hydrocarbon region in Siberia.
09/05/12
Appointment of Director of Projects03/04/12
Director Dealing and Additional Listing29/02/12
Interim Financial Report24/01/12
Latest Corporate Presentation Available30/11/11
Result of AGM
13/03/12
This is a transformational year for Victoria Oil & Gas as it moves from explorer to cash generating gas and condensate producer in Cameroon. Chairman Kevin Foo guides us through a crucial 12 months for the company.
29/11/11
This morning the company told investors that it the project remains on schedule for first gas sales by year end, after it completed work on the production facilities at the site.
28/10/11
Victoria Oil & Gas said this morning that it is on target to deliver first gas from its Logbaba condensate project in Cameroon by the end of the year.
07/07/11
Analysts cheered an encouraging update from Victoria Oil & Gas today, with the group revealing that it is continuing to make solid progress with exploration and development across its West Medvezhye block in Siberia. Indeed, some analysts believe the stock is undervalued and that it is only a matter of time before the market corrects the anomaly.
13/06/11
Victoria Oil & Gas' development of the Logbaba gas and gas condensate field in Cameroon is the first phase of a strategy to transform the group into a mid-cap operator in the next three years, according to chairman Kevin Foo.
09/05/12
Victoria Oil & Gas appoints Neil Kendrick as director of projects19/04/12
Victoria Oil & gas set for re-rating if production targets are met, says Edison29/02/12
Victoria Oil & Gas' Foo upbeat as group gets transformational year underway20/02/12
Victoria Oil & Gas: Daniel Stewart eyes latent value in shares20/12/11
Victoria Oil & Gas passes significant milestone as it delivers its first gas in Cameroon
27/04/2012
07/02/2012
26/08/2011
25/08/2011
Victoria is an independent oil and gas exploration and production company with projects in Africa and the FSU. The Company’s principal assets are 95% of the Logbaba gas and condensate field in Cameroon and 100% of the West Medvezhye oil and gas project in Siberia, Russia.
Cameroon: Logbaba
Victoria Oil and Gas, through its wholly owned subsidiary company, Rodeo Development Limited, has a 95% interest in and operates the Logbaba Gas and Condensate Field onshore Cameroon. Further to the Exploitation Licence awarded on the 29/4/11, the company commenced gas and condensate production in December 2011.
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Russian - West Medvezhye
The West Medvezhye oil, gas and gas condensate licence near Nadym in Western Siberia, lies in the Yamal Peninsula. This area is one of the most prolific gas regions in the world where over 70 Tcf of gas has been produced. In 2004, the Company acquired a 74.8% interest in Russian company ZAO SeverGas-Invest (SGI), which holds the licence for the West Medvezhye field and in 2005 Victoria acquired the remaining 25.2% bringing its total shareholding to 100%
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Kazakhstan - Kemerkol
In the 2009 Annual Report and Accounts, the Directors made a provision of $35.5 million against the carrying value of the Kemerkol asset subsequent to our licence being revoked by the Economic Court of the Atyrau Oblast of Kazakhstan. We continue to fight our corner within the constraints of the Kazakhstan legal system and still remain hopeful of a positive outcome but Kemerkol's long-term economic importance within Victoria's overall portfolio of assets has been minimised.
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Kevin Foo, Chairman
Kevin has a 40 year career in all aspects of mining, including technical, operational, project management and running public companies. He has worked on five continents including 19 years in Kazakhstan and Russia and is a specialist in the development of mines in the FSU. Kevin was the former managing director of Celtic Resources Holdings Plc and non-executive chairman of Bramlin Limited, AIM quoted resource companies.
Grant Manheim, Deputy Chairman
Grant has extensive financial experience in the City of London gained over 37 years at N.M. Rothschild and Sons Limited with 25 years as a main Board Director. In addition to his financial experience, he also has knowledge of the oil and gas sector having been the Deputy Chairman of the Executive Committee of New Court Natural Resources Plc, a company whose business was the investment in and development of oil and gas properties in the United States.
Robert Palmer, Finance Director
Robert is a Chartered Accountant. He combines his role as Finance Director with his position as a senior partner in The Gallagher Partnership LLP, a business consultancy-based accountancy practice where he specialises in providing financial advice to small and medium sized enterprises. He holds a number of directorships in private companies.
Austen Titford, Executive Director
A Chartered Accountant with more than 17 years experience from working for FTSE 100 and AIM listed natural resource companies, including Lonrho, LASMO, BHPB and Celtic Resources on projects in Africa, Iran, Russia and Central Asia. He brings a broad mix of financial experience, covering both the project development and operational phases.
Philip Rand, Non-Executive Director
Philip has over 30 years of financial experience of which 17 have been in the upstream energy sector. He was previously the chief executive and chief financial officer of AIM-quoted oil and gas exploration company Equator Exploration Limited, chief financial officer of Burren Energy, group treasurer of Monument Oil & Gas and held senior financial roles at Deminex and Louisiana Land & Exploration. Philip is a Fellow of the Association of Corporate Treasurers and is Chairman of the Company's Remuneration and Audit Committees.
Senior Management
Radwan Hadi, Chief Operating Officer
Radwan is a petroleum/reservoir engineer with a strong technical background and 30+ years extensive experience in the upstream oil and gas exploration and production industry. He has worked on a broad range of integrated projects including reserves estimation, development planning and asset valuation. In addition to many projects in the Middle East, he has worked on projects in Europe, South America, South East Asia, and Africa. Specifically in Africa, he has worked on projects in the Cameroon, Equatorial Guinea, Ghana, Mauritania, Mali, and Ethiopia.
Jonathan Scott-Barrett, Managing Director, Cameroon
Jonathan Scott-Barrett is a chartered surveyor with substantial natural resources expertise. He is a former executive director of Celtic Resources Plc and a former chief executive officer of the London AIM-listed mining company Eureka Mining. Scott-Barrett has extensive city experiences and was also formerly a non-executive director of the $13 billion publicly listed conglomerate Hanson Plc. Having previously held the position of Commercial Director in Victoria’s London office, Scott-Barrett, a fluent French speaker has recently taken on the Country Manager Position in Cameroon.
Eckhard Mueller, General Manager, Russia
Eckhard Mueller has over 27 years experience in exploration and production, including 4 years as chief geologist for KazGerMunay and 6 years as a senior geologist with Gaz de france. He has been responsible for development projections in Germany, Mongolia, Kazakhstan and Russia and has held the position of General Manager, Russia with Victoria for over 5 years.
Martin Devine, Commercial Manager, London
Martin Devine has over 11 years oil and gas experience including 4 years investment banking as a senior associate with JP Morgan Chase. He has substantial M&A transactional experience as well as debt advisory and oil and gas client coverage exposure. Devine has also held senior positions with Dana Petroleum Plc and El Paso Energy Inc.
Divine Mofa, Operations Manager, Cameroon
Divine Mofa has more than 15 years of oil & gas industry experience. A graduate from Prairie View A&M University in the USA, he has led various engineering projects accountable as project manager and engineer for the technical, financial and commercial aspects of offshore and onshore field exploration and development operations. Mofa has held senior positions with J Ray McDermott, Oceaneering, and Alseas.
Registered Office
Hatfield House
52/54 Stamford Street
London
SE1 9LX
Auditors
Deloitte & Touche
Deloitte & Touche House
Earlsfort Terrace
Dublin 2
Ireland
Nominated Advisor
Strand Hanson Limited
26 Mount Row
London
W1K 3SQ
Brokers
Fox Davies Capital
1 Tudor Street
London
EC41 0AH
Solicitors
Kerman & Co LLP
200 Strand
London
WC2R 1DJ
Principal Bankers
HSBC Bank Plc
City of London Branch
60 Queen Victoria Street
London
EC4N 4TR
Registrars
Computershare Investor Services Plc
The Pavilions,
Bridgewater Road
Bristol
BS99 6ZY
Victoria Oil & Gas Plc
Hatfield House
52-54 Stamford Street
London
SE1 9LX
United Kingdom
Tel: +44 (0)207 921 8820
Fax: +44 (0)207 921 8821
Email: info@victoriaoilandgas.com
| Shareholders |
Percentage of Issued Share Capital
|
| Noor Petroleum Limited |
3.8%
|
| Other Shareholders |
|
| Directors and Senior Management |
2.8%
|
| Free Float |
97.2%
|
| Share Capital |
|
| Issued Ordinary Shares of 0.5 pence each as at 1 September 2011 |
2,184,269,463
|
As of 1 July 2011, the Company is aware of the following persons who hold, directly or indirectly, voting rights representing 3% or more of the issued share capital of the Company to which voting rights are attached:
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