19 Aug 2009 07:00
Victoria Oil & Gas Plc
('VOG' or 'the Company')
(AIM: VOG)
Operational Update
Preliminary hearing in Kazakh Supreme Court of VOG's appeal set for 27 August 2009
Date for spudding of the first well, Well 105, at Logbaba gas and condensate project in Cameroon ("Logbaba") set for 31 August 2009
Company confirms automatic extension of the Logbaba exploration licence until the well is completed
Victoria Oil & Gas Plc, the oil and gas company with assets in Cameroon and the FSU, today announces updates regarding its Kemerkol and Logbaba oil and gas projects.
The Supreme Court of the Republic of Kazakhstan has notified VOG's subsidiary Victoria Energy Central Asia LLP ("VECA") that a preliminary hearing of VECA's appeal against the judgement of the Atyrau Economic Court related to ownership of the Kemerkol oil project has been set for 27 August 2009. This hearing will determine whether the appeal should be sent for formal review. Further updates will be given in due course.
At Logbaba, the drilling rig, which arrived in Douala on 19 July 2009, has been assembled on site and a spudding date of 31 August 2009 for Well 105 has been set. The Company also confirms that mobilisation of the rig to site precipitates automatic extension of the exploration licence period, which was due to expire on 18 August 2009.
For further information, please contact:
Victoria Oil & Gas Plc - Tel: +44 (0) 20 7921 8820
George Donne / Kevin Foo
Strand Partners Limited - Tel: +44 (0) 20 7409 3494
Simon Raggett / Angela Peace
Fox-Davies Capital - Tel: +44 (0) 20 7936 5220
Daniel Fox-Davies / Oliver Stansfield
Conduit PR - Tel: +44 (0) 20 7429 6607
Jonathan Charles / Ed Portman