Victoria Oil & Gas Plc (Victoria) has become a significant domestic energy supplier in Africa through its wholly owned subsidiary: Gaz du Cameroun S. A. (GDC).
With operations located in the industrial port-city of Douala, Cameroon, customers are converting their operations to take natural gas supplied by our production wells and pipeline infrastructure.
GDC is the sole gas supplier in the area, providing a cheaper, more efficient, reliable, and cleaner energy alternative to Heavy Fuel Oil use.
Our teams of engineering advisors are on hand to help customer’s cost and implement the change to GDC’s energy products.

Victoria Oil & Gas is traded in the NEX Exchange HERE

Link-HISTORICAL NEWS,VIDEO/AUDIO & EVENTS

Link-Dedicated Posts for:
Gaz du Cameroun S.A. (“GDC”)
Gaz Du Cameroun Matanda S.A. ("GDC Matanda")

Link-Cameroon-Industrialisation Master Plan (PDI) & Africa Energy

NEWS

21st Jan 2019 Production Update
17th Jan 2019 Q4 2018 Operations Update
02nd Jan 2019 Presidential Decree on Matanda Received
24th Dec 2018 Renewal of Long-Term Gas Supply Contract with ENEO
28th Sep 2018 INTERIM FINANCIAL REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2018
17th Aug 2018 Q2 2018 Operations Update
22nd Jun 2018 Report and Accounts to 31 December 2017
14th Jun 2018 Restructure of the BGFI Debt Facility
04th Jun 2018 Notice of Annual General Meeting
04th June 2018 Logbaba Field Reserves Update
24th May 2018 Q1 2018 Operations and Outlook
16th Feb 2018 Q4 17 Operations Update & 2018 Outlook Replacement
05th Jan 2018 Gas Supply Contract with ENEO Not Extended



VIDEO/AUDIO

21st Jan 2019 Victoria Oil & Gas looks ahead to increased cash flow
24th Aug 2018 Victoria Oil & Gas confident of resolving ENEO contract 'within weeks'
22nd Apr 2018 Video from 21/04/2018 UK Investor Show
16th Feb 2018 Victoria Oil & Gas confident of positive outcome to ENEO issue
08th Nov 2017 Victoria Oil & Gas reports very pleasing initial results from La-108
31st Oct 2017 21 Oil and Gas - African Power Panel
30th Oct 2017 121 Oil & Gas Investment
26th Oct 2017 Victoria Oil & Gas raises US$23.5mln to accelerate new growth programme
26th Sep 2017 Victoria Oil & Gas to finalise long term supply contracts after first gas at LA-107
17th Aug 2017 Victoria Oil & Gas expecting La-107 to be a 'substantial' producer
16th Apr 2017 Video from 01/04/2017 UK Investor Show
13th Apr 2017 'It's been a terrific year and a great quarter', says Victoria Oil & Gas' Kevin Foo
06th Mar 2017 Farm-out deal 'a really good strategic move' for Victoria Oil & Gas, says chairman Kevin Foo
06th Feb 2017 Chairman runs Proactive through the good start to 2017

EVENTS

28th Jun 2018 Annual General Meeting ("AGM")
10th May 2018 Africa Oil & Power Investor Forum-London
21st Apr 2018 UK Investor Show
11th-12th Apr 2018 Africa Investment Exchange: Gas (AIX: Gas 2018)-London
09th-10th Nov 2017 The Cameroon Investment Forum(CIF)-Cameroon
30th-31st Oct 2017 121 Oil & Gas Investment-London
23rd-27th Oct 2017 Africa Oil Week 2017-Cape Town South Africa
07th Sep 2017 One2One Investor Forum - London
05th Sep 2017 Oil Capital Conference-London
28th Jun 2017 Annual General Meeting
01st Apr 2017 UK Investor Show
9th Feb 2017 Presentation slide show for One2One
9th Feb 2017 One2One Investor Forum - London

Social Media
    

and from Malcy's Blog:

Victoria Oil & Gas

Another piece of good news from VOG as they buy the Logbaba gas processing plant from Expro for $2.578m. The money will come from cash generated from GDC operations and they will now operate the plant with significant cost savings and on long term contracts with Expro and other potential customers. Good news because this will enable VOG to grow the business, expand the plant and increase profitability and if it meant more demand for their gas then all the better. Still a big fan.

Translated by Google:

Cameroon: Eneo accuses a production deficit of 80 MW, following a "water crisis"
Friday, 29 May 2015

Despite the end of the dry season from the month of March, which period is generally characterized in Cameroon by the lower production of electricity, itself due to lower water levels in dams; several Cameroonian cities are regularly plunged into darkness these days. On 28 May 2015, for example, a whole section of the Cameroonian capital was private electricity all night. This May 29, 2015, there are still many households in the city of Yaoundé, which do not always have access to electricity.

In an official statement released by Eneo, the concessionaire of the public electricity service in the country, the company announced that Cameroon is currently facing a "water crisis". "Due to a severe depletion of stocks of water in our reservoirs dams, electrical service in our country is currently experiencing strong disturbances since May 23, 2015. Between April 23 and May 26, 2015, we recorded on the Sanaga (photo), an unusual deficit of one billion six hundred million cubic meters of water, compared to the same period last year (...) It will take 2 to 3 weeks to see the natural flow of the Sanaga return to normal and power our dams, "Eneo says.

Faced with this situation described as "critical", the "hydroelectric dams Songloulou and Edea (from which is supplied throughout the south of the country) are unable to guarantee a level of power that can meet the current demand for electricity . "Also, Eneo now he blames on the entire network, a production deficit of" 80 MW, especially at peak times ", we learn officially.

Energy Mix

This "water crisis" adds a new pearl in the string of inconveniences facing the electricity supply service in Cameroon. Babbling whose end had yet been announced by the government and the company's production and distribution of electricity, following the commissioning in 2013 of the Kribi gas plant, with a capacity of 216 MW. The April 28, 2015 in Douala, Eneo inaugurated a new 50 MW gas power plant capacity that officially corresponds to the level of annual deficit of the country but who obviously failed to Cameroon away from the darkness.

To recap, the Cameroon claims the 2nd hydropower potential in Africa South of the Sahara, behind DR Congo. But for several years, the country collapses under the weight of a production deficit, which made ​​him lose half a point of economic growth each year, according to statistics from the Ministry of Economy.

Furthermore, the architecture of the energy mix of Cameroon reveals a predominance of hydroelectricity, which represents 73.3% of national production, against 25% for heat. Solar, wind and biomass (1%), despite the existing potential, remain the poor relations of the sector.

Brice R. Mbodiam

http://www.investiraucameroun.com/energie/2905-6394-cameroun-eneo-accuse-un-deficit-de-production-de-80-mw-suite-a-une-crise-hydraulique

More coverage on last weeks news:

Victoria Oil & Gas buys Logbaba gas processing plant
Jun 1, 2015

By Amy McLellan

Victoria Oil & Gas has acquired the Logbaba gas processing plant, which processes and separates the output from its Logbaba gas-condensate field in Cameroon, for US$2.578 million. The AIM-quoted gas company funded the purchase from cash flows from its growing gas production and distribution business: the condensate is sold to a local refinery and clean natural gas is distributed to customers through its 33 km pipeline network in the industrialised region of Douala.

Kevin Foo, executive chairman of GDC, VOG’s 100 per cent owned subsidiary in the country, said the purchased was a “key milestone” that will bring “significant cost savings”. He added that the company was now evaluating options to expand the plant.

Analysts at SP Angel Corporate Finance welcomed the deal as a “solid step forwards, and one that provides an increasingly stable and solid platform from which to continue to build its business”.
Certainly the company is on a roll. After a number of slow years as it battled the realities of building a gas-based infrastructure from scratch in Cameroon, momentum has been building.

Its gas offers heavy end-users a more reliable, cheaper and cleaner source of energy than the alternatives, such as expensive heavy fuel oil or seasonal hydroelectricity. It now pipes gas to industrial customers and is also delivering on a 50 MW gas-to-power deal with local partners, a deal that Foo rightly called “game-changing”.

That deal, signed at the end of 2014, saw VOG commit to supply gas to generate 50 MW, which draws on 10.1 million cf/d of gas, of which the minimum take or pay component is 90 per cent in the dry season and 30 per cent in the wet season. Since the 50 MW came online last month, production from the field has averaged 14.5 million cf/d, with a daily peak of 15.3 million cf/d. Under the terms of the contract, the gas sells at a fixed price of US$9/mmbtu.

Foo pointed out it had taken less than four months to get from contract signing to delivery of 50MW to the grid. “Average production levels have risen to 14.5 million cf/d, three times higher than levels at the end of 2014, which underlines this transformational agreement for VOG and give us confidence GDC can meet its average production target of 10.4 million cf/d for calendar year 2015,” he said.

As this starts to yield positive cash flows, boosted by the cost savings yielded by the acquisition of the processing plant, it is clear that 2015 is shaping up to be a very significant year for the AIM company. An interesting year ahead.

Information relating to one of VOG's customers:

CHOCOCAM – Thermal Gas Supply


Chocolaterie du Cameroun (CHOCOCAM) is a Cameroonian subsidiary of Tiger Brands Limited, a Top 40 JSE listed company whose footprint extends across the African continent and beyond. It has been one of the largest manufacturers and marketers of FMCG products in Southern Africa for several decades. The team at Gaz du Cameroun worked extensively with Chococam to assess the potential savings for the client and ensure a rapid conversion to gas supply from Heavy Fuel Oil.

http://www.victoriaoilandgas.com/gaz-du-cameroun/case-studies?page=3

The June edition of 'Business in Cameroon' (Energy Page 26):

08 June 2015
Victoria Oil & Gas Plc
("VOG" or "the Company")

New Thermal Gas Connections and Production Update, Cameroon

Highlights

· Three new thermal customers online, including Dangote Cement Cameroun S.A. ("Dangote")

· Expected additional daily gas consumption of 0.7mmscf

· Average production rate for May was 12.4mmscf/d

· Focus now on production build out on Bonaberi side of Wouri River

Victoria Oil & Gas Plc today announces that its 100% owned subsidiary, Gaz du Cameroun S.A. ("GDC"), has completed connections and is supplying natural gas to three new industrial customers from its gas pipeline network in Douala. The connections include the new Dangote cement clinker plant located on the southern shore of the Wouri River, Douala.

The construction of the 1.5 million tonnes per year clinker cement plant by Dangote is a reflection of the significant commercial growth occurring in the port-city, Douala, which is a major regional manufacturing and trade hub, with seaborne access and developed infrastructure.

In addition, GDC is now supplying gas to New Foods, a food processing business owned by major conglomerate the Fokou Group, and Société Industrielle Camerounaise des Cacaos S.A. ("Sic Cacaos"), a subsidiary of Barry Callebaut, which are a Swiss-owned chocolate group and one of the world's largest producers of cocoa.

Sic Cacaos recently increased its capacity from 32,000 to 50,000 tonnes per year of cocoa and now accounts for 25% of total Cameroon production.

Notably, both of these new customers have converted their operations from heavy fuel oil to natural gas.

The total estimated additional daily consumption from the three new connections is 0.7mmscf.

A summary of the gas production figures for the months from January 2015 to the end of May 2015 is shown below:


Logbaba Production Figures (mmscf/d)

SEE LINK AT BOP

April and May figures reflect some seasonal variations in demand from thermal customers and steady build-up of gas consumption by ENEO Cameroon S.A. Average daily gas consumption for the first five days of June was 16mmscf/d.

Kevin Foo, Executive Chairman, said: "We welcome Dangote, New Foods and Sic Cacaos as important new thermal customers for GDC. This is confirmation that industries will expand their operations when they can be guaranteed consistent supply of energy without the need for storage or transportation. Gas supply to the Bassa and Logbaba power stations is steady and we are now focussing on additional customers in the Bonaberi industrial area across the Wouri River. Our monthly average gas consumption is triple the February average and we expect to exceed our 10.5mmscf/d target for the calendar year 2015."

http://www.moneyam.com/action/news/showArticle?id=5052093

Victoria Oil and Gas (LON:VOG) – Strengthening its Hand

Today's news of new thermal customers is another step forwards for the Company, and one that now marks it as a fully-fledged midstream operator that just happens to have an upstream asset.

We have previously stated that:

The businesses have two differing risk profiles, and if the wider midstream opportunity develops as it appears as it is, there could be a perceived conflict of interest with the client base of the midstream business. We believe that the midstream business can leverage its leadership position in Cameroon to tap in to the new gas finds offshore, especially as the Ferrostaal fertiliser plant FID is still in the offing; it could be the midstream development partner to the whole area.
and we still believe that this is where the future of the Company lies.
Now that Cameroon appears to be starting to purr nicely, we believe that the management should switch to the disposal of noncore assets, such as Kazakhstan and Russia.

8 June 2015 by Malcy

Victoria Oil & Gas

VOG goes from strength to strength with more good news today in the shape of 3 new industrial customers for its gas in Cameroon which will add 0.7 mmscf/d to sales. With May production of 12.4 mmscf/d things are going well and it shows that local industry is moving from heavy fuel oil to natural gas for its supply of energy. The target of 10.5 mmscf/d is now expected to be exceeded and whilst the shares have fallen back from the 84p recent peak, they have still doubled so far this year and I wouldnt be surprised to see further upward progress.

Gas Cameroon expanded its customer portfolio with three major industrial units
Monday, June 8, 2015



Gas Cameroon SA (GDC) has expanded its customer base with three important industrial companies. This is Dangote Cement SA Cameroon, New Foods and Industrial Company of Cameroon Cacaos SA (Sic Cacaos) whose gas supply started after their placing on the GDC distribution network.

Victoria Oil & Gas Plc, a British company that owns 100% GDC, announced on 8 June 2015, the introduction into its network in these industries that are well past heavy fuel oil regime to that of natural gas, which represent, in all, an excess consumption of 0.7 million standard cubic feet (mmscf) per day.

The arrival of these new customers comes at a time when GDC has completed the purchase of Expro Worldwide BV treatment plant gas Logbaba and tripled the average production. Indeed, GDF achieved an average natural gas production of 12.4 mmscf per day in May 2015, after a level of 11.3 mmscf in April, 5.5 mmscf in March, in February and 4.4 mmscf 4.0 mmscf in January. "We welcome the arrival of Dangote, New Foods and Sic Cacaos as important new consumers of thermal energy to GDC," commented Kevin Foo (pictured), executive chairman of GDC.

In his opinion, this is the "confirmation that industries will expand their activities when they have the guarantee of the constant supply of energy without having to store or transport."

According to the oil and gas listed in London, Dangote Cement for construction of a cement plant of 1.5 million tonnes per year represents a growth potential. The very good opportunity to play is also made ​​as to the entry into its customer New Foods and Sic Cacaos, respectively subsidiaries of Barry Callebaut Fokou and groups.

Highlighted is the Logbaba power plant that VOG supplies with gas:

Cameroon: Power Rationing - Over Seven More Days for Blackouts
8 June 2015
By Christopher Jator

On-going power blackouts in Cameroon's economic powerhouse, Douala, like in other areas of the country, tell of an uncertain future. What consumers are experiencing is not just power blackout attributed to falling wooden poles, aging infrastructure, and unforeseen technical problems, but a deliberate power rationing imputable to many factors whose root causes are as old as the power utility corporation.

The power utility corporation has promised that blackouts as a result of power rationing will be over in the next seven to ten days. Nana Kountchou, General Manager of the Energy of Cameroon, Eneo, flanked by two directors, addressed a news conference at its Douala-Koumassi office yesterday June 4, 2015, clarifying the public on the on-going power rationing. He assured that the flow rate of Sanaga River has stabilised and storage in the Songloulou Dam will start rising in the next seven to ten days, substantiating his claims with meteorological forecasts that there will be heavy rains within the period.

The reason for programmed blackouts, which started some two weeks ago, is largely due to the drop in the storage of the dam from 1,000 cubic metres to 600 cubic metres. However, as the rains began falling heavily, storage rose to 625 cubic metres by June 3, 2015. Besides ageing infrastructure, there is the on-going replacement of power lines in major parts of Douala. This entails putting in place lines that have the capacity to carry larger amounts of energy. Meanwhile, the Eneo officials urged the public to pray God for more rains to end the present situation. Another measure is that Eneo has negotiated with large consumers like ALUCAM to cut down on power consumption.

According to Ekang Esseing, National President of the Cameroon Association of Electricity and Water Companies, ASEELEC, to promise that blackouts will stop in a week sounds too simplistic. "Power rationing can be avoided if plants like those in Logbaba (Douala) and Kribi are up-to-date and new ones are set up to add sufficient energy to the 1,000 megawatts produced by Eneo. The public must be sensitised to stop wasting energy, like it is in public buildings," Ekang noted.

Eneo and Alucam coordinate their efforts to fight Cameroon’s hydraulic crisis
Wednesday, 10 June 2015

(Business in Cameroon) - Aluminium du Cameroun (Alucam), which consumes over 40% of the electricity produced in Cameroon, has accepted to reduce its consumption during peak hours (which will be equivalent to a decline in production), to mitigate the effects of the hydraulic crisis that Cameroon has been traversing for several weeks. This was announced on June 4, 2015 by Eneo Managing Director, Joel Nana Kontchou.

While thanking Alucam for its gesture of solidarity towards other electricity consumers, the Managing Director of Eneo reiterated that the power outages that companies and households have experienced over several weeks now, are the result of the severe hydraulic crisis. The phenomenon, he explained, is apparent in the substantially lower water levels in the nation’s dams.

For example, Ahmadou Bivoung, Director of the Edéa hydroelectric plant attached to the dam, reveals that the flow of water from Sanaga to Edea was 615 m3/s on June 1, 2015, against 1,398 m3/s on June 1, 2014, which is a 50% decrease. “In 23 years of service, I’ve never seen anything like this,” he stated when attributing “this extraordinary event” to “climate change”.

and VOG get a mention in this article:

Sanaga Sud field boosts gas production in Cameroon to 4.5486 billion cubic metres
Wednesday, 10 June 2015

(Business in Cameroon) - In late April, Cameroon produced 4.5486 billion cubic feet of gas. This figure indicates an increase of 4.77% relative to the same period last year, according to Société nationale des hydrocarbures (SNH).

According to SNH figures, this production is derived mainly from the Sanaga Sud field off the coast of the resort town of Kribi, from which some 3.801 billion cubic feet of gas were extracted over the period in question.

The remaining 747.5 million cubic feet were produced on the Logbaba gas field being mined by British company Victoria Oil & Gas (VOG) in the suburbs of Douala.

11 June 2015
Victoria Oil & Gas Plc
("VOG" or "the Company")

Application for Listing of shares

Victoria Oil & Gas Plc, announces that application has been made for the admission of a total of 439,527 new ordinary shares of 0.5p each ("New Ordinary Shares") to trading on AIM ("Admission"). The New Ordinary Shares have been issued to the following subscibers, who have utilised part of their cash payments due for services provided to the Company, in accordance with the terms of their respective contracts:

· Gallop Solutions International Limited: 125,000 shares at 39.4p per share, as per contract dated 1 May 2014 and 50,000 shares at 68p per share, as per contract dated 15 September 2014. Share entitlement priced as at the contract start date.

· Managing Director, Gaz du Cameroun S.A.: 264,527 shares at 54p per share, as per contract dated 1 August 2013. Shares priced at the volume weighted average share price for the 10 trading days to 31 July 2014.

Admission is expected to become effective and dealings in the New Ordinary Shares are expected to commence at 8.00 a.m. on 16 June 2015. Following Admission, the Company will have 109,153,336 ordinary shares in issue.

The New Ordinary Shares will rank pari passu, in all respects, with the existing ordinary shares. The aforementioned figure of 109,153,336 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in ordinary shares in VOG, under the Financial Conduct Authority's Disclosure and Transparency Rules.

http://www.moneyam.com/action/news/showArticle?id=5054615

General interest:

Indo-Chinese consortium seeks to build two auto assembly plants in Cameroon

(Business in Cameroon) - On June 11, 2015, India based Azad Coach, China’s Gac Gonow and, especially, Yutong, the automobile construction leader in China and the world’s 3rd manufacture, signed an agreement for the construction of two auto assembly plants (trucks and sedans) in Douala and Kribi.

The Indo-Chinese consortium, which has the Cameroon Automobile Industry Company (CAIC) as its local partner, plans to invest around 92 billion FCFA in these projects for which the Cameroonian government will be providing 900 hectares of land in the vicinity of the Kribi deep water port.

The project will benefit from legislation on private investment incentives in Cameroon which grant tax and customs incentives to companies for a period of 5 to 10 years as well as during their installation and production phases. Around 4,620 direct jobs will be created within the framework of these projects during the first 15 years of activity.

http://www.businessincameroon.com/companies/1706-5505-indo-chinese-consortium-seeks-to-build-two-auto-assembly-plants-in-cameroon

A reminder:

Kevin Foo, Executive Chairman, said:

“We welcome Dangote, New Foods and Sic Cacaos as important new thermal customers for GDC. This is confirmation that industries will expand their operations when they can be guaranteed consistent supply of energy without the need for storage or transportation. Gas supply to the Bassa and Logbaba power stations is steady and we are now focussing on additional customers in the Bonaberi industrial area across the Wouri River. Our monthly average gas consumption is triple the February average and we expect to exceed our 10.5mmscf/d target for the calendar year 2015.”

It would seem logical that more companies (like Guinness, Icrafon, SCTB & CAMLAIT have done) will be interested in having their own gensets supplied by VOG's gas.

Cameroon Economy Suffers Through Power Failures
Moki Edwin Kindzeka
June 19, 2015



DOUALA, CAMEROON—
Cameroon’s economy is on its knees as the central African nation suffers its worst power outages since independence.

Huge consignments of goods -- some destined for landlocked countries like Central African Republic, Chad and Sudan -- have been stockpiled at the Douala seaport for more than six weeks.

Cameroon lawmakers are asking for investigations even though the main energy supplier said poor rainfall is to blame.

Cameroonian lawmaker Walang Richard said his country is hurting – and that he is pressing for a parliamentary commission of inquiry into the unreliable power supply.

"If you look at the country today, everybody is crying. We have a giant water project that we are putting on. But immediately the light goes off, there is no water. These are things that are really creating problems," Richard said.

"Take for instance, children who are struggling to write exams and they are reading. Suddenly the light goes off. How do you get a candle by 1, 2, 3 o'clock a.m.?" he asked.

30 percent on the grid

Due to underdevelopment, only 30 percent of the population is connected to the electricity grid.

More than 70 percent of Cameroon's current energy supply comes from traditional biomass fuels and the potential of huge gas reserves remain to be explored.

Cameroon has an estimated 12,000 megawatts of hydroelectric potential, but only a fraction of it has been developed.

Peter Ghogomo, technical director of the nation’s main energy provider, British-owned Energy of Cameroon, ENEO, blames the problems on poor rainfall.

"We have a problem of the poor hydrology. No rains. Many people turn to say, ‘Oh, there is rain in Douala,’ and so on. But the rains in Douala go directly into the sea and do not pass through the (turbines)," Ghogomo said.

He said the company also is performing preventive maintenance on equipment. "We must have to do this preventive maintenance. Better suffer now, so that in future, you will have better quality of service."

But lawmaker Njong Evaristus placed the blame squarely on ENEO management for failing to deliver.

"The paradox about it all is that at the heart of the rains, we are talking about the turbines not turning. It is not true, it is not true. The issue is that of lack of management, the issue is that the equipment is obsolete," Evaristus said.

In the meantime, businesses in the nation’s economic hub said they are suffering as a consequence.

Prince Galega is one of countless Douala businessmen who have been waiting for weeks at the busy port for his container to clear. Because of the outages, he can’t pay and claim his container.

"When you have to pay some of the charges, sometimes you go and they will say there is no power and you have to stop and probably wait for one day or two days, waiting for the current (electricity)," Galega said.

Containers pile up in port

Customs broker Muchi Awah said about 2,500 containers – some destined for countries that depend solely on the Douala seaport – have piled up in the past six weeks.

"Just because of power failure, a container pays just for one day 25,000 Francs. And so if you exceed, just say go about 45 days you count how much you are going to pay, you will not want to think of what you experience at home. ... It has a heavy toll on the economy of the country," Awah said.

Emmanuel Vermo, who repairs imported second-hand cars, said he has also been out of business.

"It is a regrettable situation, I tell you, we are grounded with our machines and we don't know when the lights will be available and when it will not be," Vermo said.

"This completely kills forecast to be sure of how many days we can go through a business transaction," he added.

And while on the subject of gas powered gensets this article may be of interest although not Cameroon specific:

‘Gensets aiding economic growth in Africa’
Friday, 19 June 2015

"In 2014, Nigeria imported a total of 28,678 genset units totalling to US$185.5mn, as per data provided by PowerGen Statistics"

"“The recent discovery of gas fields in East Africa is generating interest in using gas as an electricity feedstock instead of diesel. Since the running costs of gas generators are lower than diesel generators, market participants stand to be increasingly affected by this development,” research firm Frost & Sullivan indicates."

Continued growth in genset markets

The sales of products in the global generator market have been particularly strong in regions which have an unreliable electricity supply, such as countries in Africa and Asia. There have recently been a large number of power cuts across South Africa and Ghana, which have greatly affected both businesses and individuals operating in these countries.

South Africa has been particularly badly affected by power shortages in recent months, with South African electric public utility Eskom announcing plans for rolling blackouts in order to undertake repair work on several of their damaged generators.

The global generator market is seeing a rise in adverse weather conditions and new and improved generator technologies boost its growth prospects. As the energy infrastructure in developing countries remains poor on the whole it is expected that generators will be required for the foreseeable future.

The rise of natural gas gensets

Natural gas (NG) generator sets (gensets) are reciprocating internal combustion engines that are used worldwide for distributed power production. Despite a short-term slowdown due to volatility in the oil and gas market, the NG genset market is expected to show healthy growth during the next 10 years. As a source of emergency standby, prime, peaking, or continuous power, NG-fuelled gensets are poised for rapid growth, particularly in markets where inexpensive NG is widely available.

Annual natural gas (NG) genset installations are expected to reach 27.2GW by 2024 and generate US$146.8bn in cumulative revenue between 2015 and 2024, according to a report published by Navigant Research.

Gas gensets easily comply with environmental regulations by producing greater amounts of electricity through highly efficient, decentralised natural gas combined heat and power (CHP) systems. Gas property as a clean burning fuel coupled with genset advantages such as lower noise, quicker permit obtention, and reduced capital costs make gas gensets the ideal choice for end users across segments.

This is especially so in emerging countries like in East Africa, which do not have access to adequate reserves of gas and lack the necessary infrastructure to pipe gas from other regions. The widening demand and supply power gap will escalate gas gensets as a source of prime and continuous power. In this scenario, highly flexible generating units with fast response times can provide utilities with a flexible power generation infrastructure, allowing them to make the most of the high electricity prices during hours of peak demand.

Africa a big market

Research by PriceWaterhouseCoopers indicates that worldwide spending in infrastructure will double between now and 2020. This expenditure should grow at between six and seven per cent per year over the next ten years, with faster growth in sub-Saharan Africa estimated at an excess of 10 per cent per year.

To continue reading the rest of this article, please see July edition of African Review

June edition of African Review where the genset section starts on Page 48 and also a two page piece on VOG and the recent inauguration of the Bassa & Logbaba Power Plants:

http://www.africanreview.com/magazine-archives/african-review-june-2015

GB Trustees Limited not mentioned now as they were previously holders of 3.006% before the listing of shares 16 June 2015 announced 11th June 2015 so it's possible they have sold up.

Securities in Issue

Number of shares in issue: 109,153,336

Percentage of shares not in public hands: 4.53%

Free Float: 95.47%


Holdings of Significant Shareholders

As of May 2015 the Company is aware of the following persons who hold, directly or indirectly, voting rights representing 3% or more of the issued share capital of the Company to which voting rights are attached:


Name------------------------------------Number of Shares--------% of share capital

The Capital Group Companies, Inc---------6,966,560---------------- 6.382%

http://www.victoriaoilandgas.com/investors/share-information

General interest-Cameroon energy sector (translated by google)

Cameroon: investment in electricity needs amount to 3.7 trillion CFA francs over 10 years
Monday, 29 June 2015

To exit the energy deficit, which the country lost half a point of economic growth each year, Cameroon will invest 3.7 trillion CFA francs in the electricity sector over the next 10 years, revealed Joël Nana Kontchou (photo) June 26, 2015 in Douala. The CEO of Eneo, concessionaire of the public service electricity in Cameroon, was invited to present the challenges of access to electricity in the country, at the opening of universities Professional Associations of Cameroon (Gicam ).

According to the CEO of Eneo, this overall amount, 2500 billion CFA francs will be invested in the construction of production infrastructure, "for an installed power of 3,000 MW target for 2025", against just over 1,200 MW currently. Transportation meanwhile requires investment of about 700 billion CFA francs. "These amounts will be added to 477 billion of Eneo," as provided in the ten-year investment plan of this company controlled by the British investment fund Actis, said Joel Nana Kontchou.

With these investments, he continued, in 2025, Cameroon will "consider a supply rate of around 75% (against barely 50% currently in urban areas and much less in rural areas, Editor's note), with a reduction of more than 85% of electricity supply interruptions "; and spend "the detestable relief to an electricity exporter status in Central Africa. Eneo is strongly committed to doing its part. The other players must take their share of responsibility ... "