Proactiveinvestors United Kingdom Victoria Oil & Gas articles

Victoria Oil & Gas well on the road to cash generation

Tue, 13 Mar 2012 12:14:00 +0000

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.

Victoria Oil & Gas shares boosted by Logbaba update

Tue, 29 Nov 2011 11:50:00 +0000

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.

Victoria Oil & Gas says Logbaba will go into production on schedule later this year

Fri, 28 Oct 2011 07:26:00 +0100

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.

Victoria Oil & Gas update on Siberian exploration cheers analysts

Thu, 07 Jul 2011 12:33:00 +0100

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.

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

Mon, 13 Jun 2011 12:51:00 +0100

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.

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

Wed, 18 May 2011 08:28:00 +0100

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.

Victoria Oil & Gas shares soar as Logbaba field commercialisation gets the nod

Fri, 06 May 2011 10:54:00 +0100

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

Victoria Oil & Gas ready for Logbaba go-ahead

Thu, 03 Mar 2011 08:28:00 +0000

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.

Victoria shares rise as Foo re-assures investors on Cameroon licence approval

Mon, 28 Feb 2011 12:01:00 +0000

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.

Victoria's Foo unfazed by Cameroon delay; ready to hit the ground running

Mon, 28 Feb 2011 08:35:00 +0000

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.

Victoria Oil and Gas raises £14m in oversubscribed placing

Mon, 01 Mar 2010 09:09:00 +0000

The money is earmarked for completion of drilling and testing operations at its flagship Logbaba natural gas and condensate project in Cameroon.

Victoria Oil and Gas finds potential new hydrocarbon accumulation at Logbaba

Thu, 04 Feb 2010 08:55:00 +0000

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.

Victoria Oil & Gas identifies additional targets at West Medvezhye licence in Russia

Wed, 03 Jun 2009 07:23:00 +0100

The results indicate that Well 103 penetrated the flank of a structure which extends to the south-east and also highlighted a further prospect to the north-east.

Victoria Oil & Gas receives support of General Prosecutor in Kazakhstan, shares soar

Mon, 16 Mar 2009 10:17:00 +0000

Shares in oil and gas junior, jumped in early deals after the company announced that the General Prosecutor of the Republic of Kazakhstan, was supporting the Company’s application against a dispute of ownership of the Kemerkol Oil Field.

Victoria Oil & Gas targets near term cash flow in Africa

Tue, 10 Feb 2009 10:29:00 +0000

Cameroon may be familiar to some oil and gas investors for its offshore hydrocarbon potential, but for Victoria Oil & Gas, the focus is onshore.

Victoria Oil and Gas emphasis switches to production

Thu, 22 Feb 2007 00:00:00 +0000

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.