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Don't have an account? Click here to register.Victoria Oil & Gas signs deals and receives first dispute cash
Wed, 08th Jan 2014 15:19
Explorer and producer Victoria Oil & Gas (VOG) signed two key customer agreements and received cash from an arbitration to make up for flat daily production levels as a customer's expected plant was not delivered.AIM-listed VOG, which has interests in Cameroon and Siberia, signed a collaboration agreement with Cameroon's sole electricity utility AES-Sonel to work together to convert currency hydro-electric plants to gas-fired generation.The company admitted year end daily production levels remained in the 2.5 to 3.0m standard cubic feet per day (mmscf/d) range because a Cameroon glass manufacturer customer Socaver did not commission a new plant as expected and some customers had significantly reduced consumption over the holiday period. In particular, VOG's largest customer had also agreed to supply thermal gas for cement manufacture Dangote, with second-quarter connection anticipated.The company received first cash, $4.1m, as the result of an arbitration against RSM Production over a long-running gas field ownership dispute in Douala.Shares in VOG were up 8.6% to 1.18p at 15:30 on Wednesday. OH
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19 Jan 2015 14:41
Victoria Oil & Gas completes Cameroon pipeline ahead of schedule
Victoria Oil & Gas has completed laying the gas pipeline to the boundaries of two ENEO power stations at Bassa and Logbaba ahead of schedule, the firm said on Monday. Gaz du Cameroun said the pipeline was currently being tested and that it expects the trial phase to be completed within next week. L
Read more29 Dec 2014 08:28
Victoria Oil & Gas agrees gas supply deal in Cameroon
Victoria Oil & Gas has agreed a deal to supply gas for two power stations in Cameroon run by energy company ENEO. VOG said its subsidiary Gaz du Cameroun (GDC) would supply the 30 megawatt Logbaba and 20 megawatt Bassa power stations in the city of Douala under a two-year contract. ENEO's schedule
Read more29 Oct 2014 12:00
29 Oct 2014 10:51
Victoria Oil & Gas completes pipe-laying in Douala
Victoria Oil & Gas pleased investors with the news it has successfully laid 678 metres of gas pipe under the Wouri River to the northern Bonaberi shore in Douala, Cameroon's major industrial city. The emerging Cameroon utility company said the pipe-laying means the network, which now totals 860 metr
Read more29 Oct 2014 09:00
BUZZ-Victoria Oil & Gas: up more than 10 pct on Cameroon pipeline completion
** Shares in junior oil and gas explorer up as much as 10.8 pct after it said it had finished laying a gas pipe under the Wouri River in Cameroon. ** The pipe extends the Gaz du Cameroun gas supply network to an industrial customer hub in Douala, Cameroon's largest city. The network is to b
Read more20 Oct 2014 11:59
Victoria Oil & Gas says independent draft report is finished
Victoria Oil & Gas (VOG) announced that Deloitte has finished its draft report on the costs of the Logbaba gas project in Cameroon. Deloitte was appointed by VOG and RSM Production Corporation to independently review the RSM participation interest share of expenses from the Logbaba project. A proce
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