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Victoria Oil & Gas 'positioned for growth' as it focuses on reducing costs and hitting profitability

Victoria Oil & Gas PLC's (LON:VOG) Ahmet Dik recaps on 2018 following the release of the company's results as well as expectations for the year ahead.

In March this year VOG made significant changes to its management team and raised £13.5mln of new equity.

Dik says the company's getting back on track with ENEO now consistently taking more than 5.5mln cubic feet of gas per day – in the first quarter of 2019 the average group production rate was up 127% to 10.10mln cubic feet per day.

Quick facts: Victoria Oil & Gas PLC

Price: 8.05 GBX

AIM:VOG
Market: AIM
Market Cap: £20.68 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