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Victoria Oil & Gas' chairman "very excited" about Matanda block

Victoria Oil & Gas' (LON:VOG) chairman Kenvin Foo tells Proactive Investors he is "very excited" about the Matanda block in Cameroon, a prospect neighbouring its Logbaba gas field, in which the company has taken a 75% stake.
He says the gas potential there is "quite magnificent" as tests conducted during the 80s indicated significant gas potential and gas flows when two wells were tested. Then Glencore, the previous owner of the Matanda stake, conducted a lot of seismic assessment work and one well also showed gas.
Foo adds the company has a long way to go to meet the energy demands of the neighbouring city of Douala.

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February 29 2016

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