18/05/11
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.
06/05/11
Shares in Victoria Oil & Gas soared more than 30 percent today as the firm announced the long- awaited approval for the commercialisation of its Logbaba gas and condensate field in Cameroon
03/03/11
The company is awaiting formal approval for its landmark gas and condensate project in Cameroon. Once the go-ahead is given to commercialise the Logbaba field, near the city of Douala, the company expects things to move at a fairly rapid clip.
28/02/11
Shares rose today as the chairman assured the market that the long-awaited go ahead would be given to its gas project in Cameroon. Analysts expected an even sharper spike once president Paul Biya gives the green light.
28/02/11
Investors have been a little jittery as president Paul Biya and his government have taken almost three months to consider the company's application for a gas exploitation licence. However Victoria's chairman Kevin Foo said the decision is "imminent" and the group is on course to deliver first gas within five months of receiving the green light.
