14 Apr 2015 12:30
Victoria Oil & Gas PLC (AIM:VOG)
14th April 2015
Victoria Oil & Gas Plc
("VOG" or "the Company")
UK Investor Show Attendance, London
Victoria Oil & Gas Plc will be attending the UK Investor Show 2015 this Saturday 18th April at the Queen Elizabeth Conference Centre in Central London (Westminster underground station).
Victoria Oil & Gas Plc will be hosting the booth F52 at the event and Kevin Foo, Chairman, will also be participating in the following events:
· Presentation on Victoria Oil & Gas at 13:45, Whittle seminar room C
· Resources seminar panel discussion from 12.20 to 13.10. at the Churchill Auditorium
Videos of both events will subsequently be made avaliable on shareprophets.com.
For ticket details and attendance please visit: https://www.ukinvestorshow.com
For further information, please visit www.victoriaoilandgas.com or contact:
Victoria Oil & Gas Plc
Laurence Read Tel: +44 (0) 20 7921 8820
Notes to Editors
About Victoria Oil & Gas Plc
Victoria Oil & Gas (VOG.L) is a gas utility company with operations in the industrial port city of Douala in Cameroon, which is the business hub to Central Africa.
The Company's subsidiary, Gaz du Cameroun S.A. ("GDC"), supplies cost effective, clean and reliable gas to industries in the Douala region from its onshore Logbaba Gas Project. Industrial customers are primarily supplied with gas through a 31.3km pipeline network built by GDC in Douala. GDC products currently include thermal gas, gas condensate and gas for electricity generation. GDC gas is attractive to customers due to its reliability, price competitiveness, low hydrocarbon emissions (compared to Heavy Fuel Oil) and adaptability to meet varied power requirement needs.
The Company generates cash flow from the Logbaba Project which is 60% owned and managed by GDC, with RSM Production Corporation, an affiliate of Grynberg Petroleum Company of Denver, Colorado holding a 40% participating interest.
Cameroon Energy Market
Cameroon is a stable African country that is host to a developing economy serving most of Central Africa with goods and services. A power deficit remains a major hindrance to Cameroon's economic expansion. The power grid is reliant on hydroelectric dams to supply 75% of power and the shortfall is made up from heavy fuel oil and gas. Hydroelectric dams are highly seasonal, with stream rates significantly varying from 6,000m3 per second in the wet season to 50m3 per second in the dry season. As with many hydro electrical systems transmission loss is also a constant issue when balancing power loads across distances to different consuming regions. The port-city of Douala is the major industrial zone within Cameroon and it requires high levels of consistently delivered grid power all year round. Currently Cameroon's energy demand is growing at 7% annually and gas is seen as a key element to Cameroons national energy strategy.