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Victoria Oil and Gas raises £13.5mln to develop and expand Cameroon operations

Victoria Oil & Gas PLC (LON:VOG) chief executive Ahmet Dik caught up with Proactive London's Andrew Scott after the company confirmed the result of its equity raise, with VOG successfully selling 59.35mln new shares priced at 13p each.

The placing was oversubscribed with new and existing investors taking up shares.

Dik says the capital raised will allow them to significantly strengthen its financial position and focus on the development of its operations and customer base in Cameroon.

Quick facts: Victoria Oil & Gas PLC

Price: 7.55 GBX

AIM:VOG
Market: AIM
Market Cap: £19.39 m
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Aksa Energy deal to put Victoria Oil & Gas 'on the path to profitability'

Victoria Oil & Gas PLC's (LON:VOG) Ahmet Dik tells Proactive London's Andrew Scott they've signed a non-binding term sheet for an energy supply deal in Cameroon. The agreement is with Aksa Energy to supply up to 25mln standard cubic feet a day of gas to Aksa Energy's planned...

on 29/7/19

2 min read