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.
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.
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.
01/03/10
The money is earmarked for completion of drilling and testing operations at its flagship Logbaba natural gas and condensate project in Cameroon.
04/02/10
The seismic survey at its gas and condensate field in Cameroon indicates a potential hydrocarbon accumulation adjacent to the current drilling that may increase the resource considerably.
03/06/09
16/03/09
10/02/09
22/02/07
Victoria Oil and Gas not only has two class assets in Kazakhstan and Russia, it also has access to cash - plenty of it. In October 2006 the company completed a £20 million convertible loan note with a 2.5% coupon per annum until April 2007 and 6.25% thereafter. The bonds mature in 2009 and can be converted to shares. VOG also arranged a floating rate exchangeable note facility with ING Bank for £25 million.
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