18 September 2015 Victoria Oil & Gas Plc ("VOG" or "the Company")
Petroleum Economist Recognises Victoria Oil and Gas as Energy Company of the Year (Small Cap)
Victoria Oil and Gas (AIM: VOG), a gas utility company with operations in the industrial port city of Douala in Cameroon, is pleased to announce its success at the 2015 Petroleum Economist Awards, held on 17th September 2015 in London.
VOG won the "Energy Company of the Year (Small Cap)" award.
VOG has been one of the few companies to successfully monetise gas in sub-Sahara Africa by developing the Logbaba gas field in Douala, Cameroon. It has done so with the full support of the Government of Cameroon and its partner RSM of Denver. Through its subsidiary Gaz du Cameroon it is delivering gas to thermal and power customers in the private sector and to grid power suppliers.
The Petroleum Economist Awards is an annual event designed to celebrate the people, companies and projects which epitomise the best of the global energy industry. The scheme's judges included: Abdalla El Badri, Secretary General of Opec; Torstein Indrebø, Honorary Secretary General of the IGU; and Malcom Graham-Wood, founding partner of HydroCarbon Capital and acclaimed industry commentator. The winners were announced at a black-tie ceremony held on 17 September 2015 at Banking Hall, City of London.
VOG Chairman Kevin Foo said: "We are honoured to have been recognized with this award, as a testament to the hard work and dedication of our teams in Doula and London. VOG has made great strides in the last 12 months and we are now a growing utility company in Cameroon."
VOG is trading below the moving 50 day average and below the moving 200 day average on above-average volume... that does not sound healthy. VOG say the 'Way Ahead' is to Drill for more Gas! Does that mean they don't have much Gas? Does VOGs have the ability or even the funding to provide Gas in the long term ?
I wouldn't accept a buyout a 56p, i think there's far more value in this share, even in today's climate. Things will change and the company is cash rich so no need to panic. Diversification away from Cameroon would be helpful though so we have more strings to the bow
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