Victoria Oil & Gas

• 24/01/12

  Latest Corporate Presentation Available

• 30/11/11

  Result of AGM

• 29/11/11

  Logbaba Operational Update

• 11/11/11

  Director Dealing and Additional Listing

• 28/10/11

  Appointment of Joint Broker

• 

  29/11/11

  Victoria Oil & Gas shares boosted by Logbaba update

  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 says Logbaba will go into production on schedule later this year

  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

  Victoria Oil & Gas update on Siberian exploration cheers analysts

  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 targets a place among the mid-caps as it plans to build on Logbaba's success

  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.

• 

  18/05/11

  Victoria Oil & Gas outlines next steps in developing Logbaba gas project

  Earlier this month, the group received the news it had been waiting for: The government of Cameroon, by presidential decree, granted a 25 year exploitation licence with an option to extend for an additional 10 years.  It now intends to deliver first gas to industrial customers in the city of Douala in the fourth quarter 2011.

• 20/12/11

  Victoria Oil & Gas passes significant milestone as it delivers its first gas in Cameroon

• 29/11/11

  Victoria Oil & Gas completes production facilities at Logbaba field

• 04/11/11

  Victoria Oil & Gas completes acquisition of royalty interest in Logbaba gas project

• 27/09/11

  UPDATE: Victoria Oil & Gas raises £9.5 million to complete Logbaba project in Cameroon

• 27/09/11

  Victoria Oil & Gas raises £9.5 million to complete Logbaba project in Cameroon

•  

  07/02/2012

  Victoria Oil & Gas' undervalued African and Russian assets

  Martin Devine, Commercial Manager of Victoria Oil & Gas, talks about ramping up production in Cameroon to 8 MMSCFD this year, over 1 TCF of prospective resources, a 1200 km square licence in Russia, over 1.4 billion BOE of prospective resources, and a discovery well of 14.4 million BOE (Jan 2012).
•  

  26/08/2011

  Stocktube video - Kevin Foo from Victoria Oil & Gas says the share price is far short of true value

  Kevin Foo, Chairman of Victoria Oil & Gas (LON:VOG), tells Proactive Investors that the share price in no way represents the assets in Cameroon, which are coming on stream in Q4 this year, let alone the prospects that VOG
• 

  25/08/2011

  Victoria Oil & Gas One2One Investor Presentation - 25th August 2011 (PDF)

  Victoria Oil & Gas One2One Investor Presentation - 25th August 2011
•  

  13/10/2009

  George Donne, Executive Director of Victoria Oil and Gas, talks to Proactiveinvestors
• 

  19/08/2009

  Victoria Oil & Gas One2One Investor Presentation 19 August 2009 (PDF)

  Radwan Hadi, Chief Operating Officer of Victoria Oil & Gas, updates investors at the Proactive Investors One2One Forum on 19 August 2009

Victoria has built a portfolio of proven and prospective oil and gas assets in prolific hydrocarbon producing regions of West Africa and the FSU.

The Company’s assets are 60% of the Logbaba gas field in Cameroon, the West Medvezhye gas project in Siberia and the Kemerkol oil field in Kazakhstan.

Logbaba is located in the northern Douala Basin within the eastern suburbs of Douala, the economic capital of Cameroon.

The field was discovered in the 1950s by Elf Serepca who drilled four exploration wells, each of which flowed gas. Three wells were tested and delivered rates between 12Mmcf/d and 62Mmcf/d.

An independent reserve report by RPS Energy in July 2008 estimated 2P reserves for a limited part of the field at 64 bcf with an NPV 10 valuation of $169m.

West Medvezhye is situated in the Yamal-Nenetsk region of Siberia, the largest gas producing region in the world and is near Gazprom’s main Medvezhye field which has been in production since 1972.

An independent reserve audit by Degolyer and MacNaughton estimated gross prospective resources for West Med of over 1.1 billion barrels of oil equivalent.

Kemerkol lies in the Atyrau Oblast of Western Kazakhstan, close to a number of producing oil and gas fields. This deposit of 65 square kilometre licence has oil reserves and resources of C1-8.7 Mmbbl, C2-26.3 Mmbbl, C3-25.1 Mmbbl. Production from this field has been suspended following a legal challenge to Victoria's ownership of Kemerkol during 2008. A provision for impairment against the cost of this asset was made in the Company's Annual Accounts for the financial year ended 31 May 2009.

Victoria also has strategic relationships with Blackwatch Petroleum Services, an international geoscience consultancy, and Geodynamics Research, developers of IPDS passive seismic technology.

Cameroon: Logbaba

Victoria’s key asset is a farm-in for 60% of the Logbaba natural gas and condensate project in Cameroon. Logbaba is located in the northern Douala Basin within the eastern suburbs of Douala, the economic capital of Cameroon. Four wells were drilled in the 1950s, all encountering gas – three were tested at between 12Mmcf/d and 62Mmcf/d. [READ MORE]

Kazakhstan: Kemerkol

In 2005 Victoria acquired 100% of the Kemerkol exploration and production licence, located in the Atyrau Oblast of Western Kazakhstan close to a number of existing oil and gas fields. Kemerkol is a 65 square kilometre oil field with 8.7 million barrels of proven C1 reserves and 26.3 million barrels of C2, with a further C3 resource of 25.1 million barrels. [READ MORE]

Russia: West Medvezhye

The West Medvezhye gas and gas condensate licence near Nadym in Western Siberia, Russia, lies in one of the most prolific gas producing regions in the world. In 2004 the Company acquired 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%. [READ MORE]

Falcon Option
Victoria has signed a 12 month option to acquire the assets of Falcon Petroleum
Falcon has a 50% interest in the PSA for Block 17 in Mali and 90% of PSA over Blocks Ab1, Ab4 and Ab7 in the Blue Nile Basin in Ethiopia. Total acreage covers over 45,000km2. [SEE MAP]

Board of Directors

Kevin Foo, Chairman
Kevin has over a 30 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 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 is currently the chief executive and chief financial office of AIM-quoted oil and gas exploration company Equator Exploration Limited. He has been 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. Philip is Chairman of the Remuneration and Audit Committees.

Senior Management

Radwan Hadi, Chief Operating Officer
Senior petroleum engineer with Blackwatch with over 25 yrs experience in oil and gas including in Nigeria, Ghana and Equatorial Guinea.

Don Nelsen, Country Manager Cameroon
Don Nelsen is a 30-year veteran of the international oil and gas industry. A graduate of the US Military Academy, Boston University, and The University of Nebraska, he is an engineer, international business specialist and lawyer. Before joining Victoria, he has worked as Country Manager for ConocoPhillips and Noble Energy in Cameroon and Venezuela, in successful exploration and development operations.

Jonathan Scott-Barrett, Commercial Director

Jonathan Scott-Barrett is a chartered surveyor with substantial corporate expertise. He is a former executive director of Celtic Resources Plc, a UK publicly listed company with molybdenum and gold assets in Kazakhstan. Scott-Barrett helped oversee the sale of Celtic Resources to the Russian steel giant Severstal in January 2008 for a consideration of £162m and was invited to join the new Russian board of Celtic Resources as a non executive director in August 2008. Scott-Barrett is the former chief executive officer of the London AIM-listed mining company Eureka Mining, which he merged with Celtic Resources in 2006 and also formerly a non-executive director of the $13 billion publicly listed conglomerate Hanson Plc.

Eckhard Mueller
27 years experience in exploration and production, including 4 years as chief geologist for KazGerMunay.

As of 1 August 2010 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:

Click here for further investor information

Updated on 4th February 2011 

Connect with Facebook to view or add comments for this company