Victoria Oil & Gas PLC - gas producer and distributor with operations in Cameroon - For the second quarter ended June 30, average daily gross gas sales rate rose slightly to 5.4 million standard cubic feet per day from 5.2 million standard cubic feet per day in the first quarter.
Meanwhile, the La-108 well produced a cumulative 467 million cubic feet to date over 111 days, until being shut in on June 6.
Looking ahead, well planning is ongoing and Victoria has started tendering for long lead items, key equipment and services.
"We are very pleased that the team has delivered another solid quarter during which some customers increased organic demand, although we are conscious that we are now heading into August which is usually a slower month. Operationally, I am delighted to report that in June GDC passed one million man-hours without a single Lost Time Incident, a credit to all the staff and contractors," says Chief Executive Roy Kelly.
Current stock price: 3.60 pence, down 4.0%
Year-to-date change: down 15%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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