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
    

Victoria Oil and Gas secures 75% of Matanda Block

StockMarketWire.com

Victoria Oil and Gas has reached an agreement with Glencore Exploration Cameroon Ltd and Afex Global Ltd on the Matanda Block, a large hydrocarbon licence in Cameroon.

The terms of this agreement include the assignment by Glencore Cameroon of its 75% participating interest in the Matanda Production Sharing Contract (PSC) to VOG, and VOG becoming Matanda's operator through its 100% owned subsidiary, Gaz Du Cameroun Matanda S.A. (GDC Matanda).

As consideration for the assignment, VOG or its subsidiaries will assume responsibility for carrying out a Work Programme to be agreed by the Government of Cameroon.

The assignment is conditional on this being agreed and other customary approvals from the Government of Cameroon.

Matanda covers an area of approximately 1,235 square kilometres and is highly prospective for significant natural gas and gas condensate resources.

http://www.moneyam.com/action/news/showArticle?id=5215661

18 February 2016

VOG - Interest in Matanda Block in Cameroon

Highlights

•VOG secures 75% of 1,235 square kilometre Matanda Block PSC adjacent to current Logbaba gas production operations
•North Matanda Field estimated to hold an estimated P50 ‘gas-in-place’ volume of 1.8 Tcf and ‘condensate-in-place’ of 136 Mmbbl
•Matanda block is over 60 times area of Logbaba concession
•Assignment subject to Government approvals including Work Programme
•Further seismic development work scheduled for Q4 2016
•Matanda forms part of VOG’s expansion strategy to meet Cameroon’s growing energy demand

Victoria Oil & Gas Plc, the integrated natural gas producing utility, is pleased to announce that it has reached an agreement with Glencore Exploration Cameroon Limited (“Glencore Cameroon”) and Afex Global Limited (“AFEX”) on the Matanda Block (“Matanda”) a large hydrocarbon licence in Cameroon. The terms of this agreement include the assignment by Glencore Cameroon of its 75% participating interest in the Matanda Production Sharing Contract (“PSC”) to VOG, and VOG becoming Matanda’s operator through its 100% owned subsidiary, Gaz Du Cameroun Matanda S.A. (“GDC Matanda”).

As consideration for the assignment, VOG or its subsidiaries will assume responsibility for carrying out a Work Programme to be agreed by the Government of Cameroon. The assignment is conditional on this being agreed and other customary approvals from the Government of Cameroon.

Matanda covers an area of approximately 1,235 square kilometres and is highly prospective for significant natural gas and gas condensate resources.

Glencore Cameroon is currently the operator of the PSC, with a 75% participating interest and AFEX, a Bermuda based exploration and production company specialising in West Africa, holds a 25% participating interest. Under the assignment GDC Matanda will hold a 75% participating interest in the PSC and AFEX will have a 25% participating interest in the PSC. GDC Matanda and AFEX will initially focus on prospects in the onshore licence area located within a few kilometres of the adjacent Logbaba area and its existing pipeline network that is currently operated by GDC.

GDC Matanda and AFEX will submit a new work programme to the Government of Cameroon for approval and expects to commence its first phase of seismic data acquisition in Q4 2016. The assignment of the PSC complements the Group’s current development activity at Logbaba, including the previously announced new drilling programme of one twin and one-step out well scheduled for 2016, by securing a significant additional resource base. The existing Logbaba gas network infrastructure will also allow for fast-track development of any new discoveries made on Matanda to deliver additional natural gas to local industrial users in Cameroon.

Kevin Foo, Chairman, said: “This is a very exciting and fulfilling acquisition for VOG and its expansion plans. The North Matanda Field has considerable potential and we believe is an extension of the Logbaba structure and at 1,235 square kilometres, the block is over 60 times larger than our existing concession. VOG has worked closely with AFEX, Glencore Cameroon and SNH, the Cameroon national oil company, to bring this opportunity to a successful conclusion. We believe the assignment and operatorship of the Matanda block is a major step towards allowing the Group to meet the growing energy needs of the Cameroonian economy.

Development of Matanda will be built on the excellent foundation established by Glencore Cameroon and AFEX. We believe that the three wells drilled in the North Matanda Field and the extensive 2D and 3D seismic data shows a strong geological continuation between the Logbaba and North Matanda Fields. Tests from the NM-1x, 2x and 3x wells proved a rich condensate yield varying from 30 bbl/mmscf to more than 70bbl/mmscf. The assignment and development of Matanda is consistent with our strategy to provide clean and reliable energy to industrial users in Cameroon.”

Background on Matanda



The Matanda Block is situated in the northern part of the Douala Basin, in the transitional zone between the Wouri estuary and the neighbouring onshore area to the south-west of the city of Douala. The block borders GDC’s Logbaba concession at the southern boundary. Approximately 30% of the block is in shallow water, whilst the remainder is onshore.

The North Matanda Field was originally discovered by Gulf Oil Corporation in 1980, and to date three offshore wells on the block have tested gas and condensate from the Logbaba Formation of the North Matanda Field. One onshore well has also encountered gas reservoirs in the Logbaba Formation. During 2008 to 2010, Glencore Cameroon and AFEX acquired 200 square kilometres of 3D seismic survey over the North Matanda Field and 150 kilometres of 2D seismic survey over the northern, onshore portion of the block.

In May 2013, Glencore Cameroon spudded well NM-3x, an appraisal well into the North Matanda Field to further define and delineate the Cretaceous reservoirs. The NM-3x well was completed in October 2013 and studies based on its results have concluded that the North Matanda Field extends to the onshore area of the block and continues towards the boundary of Logbaba, and that significant potential exists for large-scale gas reserves in this field.

In 2011 and 2014 ERCL, an independent specialist in upstream oil and gas consultancy, reviewed the Operator’s estimates of resources for the North Matanda Field based on the new data from the NM-3x well and concluded that the P50 ‘gas-in-place’ volume of 1,864 Bcf with ‘condensate-in-place’ of 136 Mmbbl were valid estimates for the area inside the Matanda 3D seismic survey.

NM-3x drilled deeper than the previous North Matanda wells and discovered new, deep gas reservoirs, which are not included in the above volume resource numbers. Following assessment of extensive drill logs and geophysical data by Afex, both Afex and VOG believe that significant potential exists for large-scale gas reserves in this field.

Additionally, it is thought that the North Matanda Field extends to the onshore area of the block.

The Matanda block also contains additional Cretaceous prospects and Tertiary prospects that offset the Moambe and Zingana discoveries drilled in 2015 by Bowleven Plc. in the adjacent Bomono concession. Matanda is located between the onshore blocks of Logbaba and Bomono concession and the offshore block of the Etinde concession. Gas has been discovered at all six wells drilled at Logbaba and in two new exploration wells currently under test by Bowleven Plc. at Bomono. The Etinde concession, operated by New Age (African Global Energy) Limited, has 2C gas and condensate resources of 345 Mmboe.

Victoria Oil lands major asset in Cameroon in expansion drive
08:21 18 Feb 2016
Philip Whiterow

The Matanda block is over 60 times larger than the Logbaba concession



Victoria Oil & Gas (LON:VOG) has made a major expansion move in Cameroon by taking a 75% stake in the propsect neighbouring its Logbaba gas field.

The Matanda block is over 60 times larger than the Logbaba concession, with the North Matanda field estimated to hold 1.8Tcf of gas and 136mln barrels of condensate on a p50 basis.

Glencore Cameroon is currently the operator, but the agreement will see it assign its 75% interest and the operator responsibilities in the block to Victoria.

In return, Victoria will undertake a work programme to be agreed by the Cameroon government. AFEX, a Bermuda-based resource group, will retain its 25% participating interest.

Exploration initially will focus on the onshore licence area located within a few kilometres of Logbaba and its existing pipeline network operated by GDC, Victoria’s Cameroon subsidiary.

Kevin Foo, Victoria’s chairman, said it was a very exciting and fulfilling acquisition for the company.

“We believe the assignment and operatorship of the Matanda block is a major step towards allowing the group to meet the growing energy needs of the Cameroonian economy.

The North Matanda Field is an extension of the Logbaba structure, he added, and three wells drilled in the North Matanda Field and the extensive 2D and 3D seismic data shows a strong geological continuation between the two.

“Tests from the NM-1x, 2x and 3x wells proved a rich condensate yield varying from 30 bbl/mmscf to more than 70bbl/mmscf.”

One post is enough MAM!

Victoria Oil & Gas' chairman "very excited" about Matanda block
13:22 18 Feb 2016

Victoria Oil & Gas' (LON:VOG) chairman Kenvin Foo tells Proactive Investors he is "very excited" about the Matanda block in Cameroon, a prospect neighbouring its Logbaba gas field, in which the company has taken a 75% stake.

He says the gas potential there is "quite magnificent" as tests conducted during the 80s indicated significant gas potential and gas flows when two wells were tested. Then Glencore, the previous owner of the Matanda stake, conducted a lot of seismic assessment work and one well also showed gas.

Foo adds the company has a long way to go to meet the energy demands of the neighbouring city of Douala.

The link below is for the 'Afex Global Limited' website regarding the Matanda Block before Gaz Du Cameroun Matanda S.A. (“GDC Matanda”) took over from Glencore:

http://afexglobal.com/operations/cameroon

Does it make sense to buy oil assets with the price of crude so low? Kevin Foo of Victoria Oil & Gas explains (Audio)

With the price of crude so low, you can only wonder who is going to buy the vast array of unproven production assets now being put up for sale all over the world. Even if supplies can be extracted, the question is, can they ever turn a profit?

African based company Victoria Oil & Gas believes it does make sense to buy assets while other producers are rapidly selling. Victoria recently secured a 75% interest in Matanda Block in Cameroon from Glencore. But with Tullow Oil seeing its shares drop, why did Victoria Oil & Gas decide to go for it? Matt Cox spoke to the chairman of the company Kevin Foo.

This has been doing the rounds today, please click link at BOP and subscribe to verify:

Victoria Oil & Gas Mulls 'Stranded Gas' Expansion - CEO
WSJ Feb 3 2016.


LONDON--Cameroon-focused energy utility Victoria Oil & Gas PLC (VOG.LN) is keen to expand its business model of supplying "stranded gas" to customers in other African countries, and hopes to announce plans for some potential projects this year, the company's Chief Executive Chairman Kevin Foo told the Wall Street Journal Wednesday.

Mr. Foo wouldn't be drawn on specific target countries, saying it was too early to do so, but said his U.K.-listed firm is looking at eight African countries across East, West and South Africa, where pockets of gas that fall below the radar of major oil and gas producers could still be economically tapped to meet local demand.

"We are interested in very small, isolated or uneconomic gas fields that, given some proximity to a market, to either power or thermal [production and consumption] could [be made to] work," he said.

Victoria is looking for "stranded" gas fields that have at least 200 billion cubic feet of gas resources, located within 200 kilometres of a demonstrable community of energy consumers. Mr. Foo said it was "insane" that oil and gas producers have overlooked such prospects.

Victoria's business model is bearing fruit in Cameroon, said the company's CEO. The company currently supplies natural gas from onshore fields to customers in Cameroon's costal town of Douala, and Mr. Foo said it's selling most of its gas at contract prices of about $9 to $16 per million thermal units, or $60 a barrel of equivalent oil. This compares with an international Brent crude oil price that recently fell below $30 a barrel.

Mr. Foo said his group of customers aren't pushing to renegotiate energy contracts, in part because energy accounts for a small portion of their total costs. Also the benefits of purchasing clean, natural gas from a source that can be turned off quickly far outweighs the uncertainty of having to import oil or diesel from abroad only to store it for future use, he noted.

Victoria Oil and Gas produced 3.7bcf of gas last year and plans to increase this by 30% to 4.8bcf this year as it expands its pipeline from 33 to 46km to add new customers.

Over the longer term, the company plans to boost its production from the current level of 15 million cubic feet of gas a day to about 40mcf/d in 2018 or 2019 and 60mcf/d in 2020. This compares to current gas demand of about 150mcf/d in the Douala area alone.

This will require investment of at least $200 million, with pipelines carrying about two-thirds of the gas and the remainder sold either through compressed natural gas tanks or compressed vehicular gas, Mr. Foo said. The expansion would be funded from operating cashflow and existing debt facilities, he noted.

PLEASE CLICK LINK AT BOP FOR FULL DETAILS:

29 February 2016
Victoria Oil & Gas Plc
("VOG" or "the Company")

INTERIM FINANCIAL REPORT FOR THE SIX MONTHS ENDED 30 NOVEMBER 2015

Victoria Oil & Gas Plc, the integrated natural gas producing utility, today announces its unaudited interim results for the six months ended 30 November 2015.

The Company has changed its accounting reference date to 31 December and will release audited results for the seven-month period ended 31 December 2015 by the end of May 2016.

Financial Highlights

· $18.9 million Revenue for the period (six months to 30 November 2014 was $11.6 million)

· $9.0 million Adjusted EBITDA (six months to 30 November 2014 was $1.7 million)

· $6.3 million Net cash position (at 31 May 2015 was $5.1 million)


Operational Highlights

· 126% average production rate increase to 8.85mmscf/d (six months to 30 November 2014 was 3.91mmscf/d)

· Sales from the Logbaba gas and condensate field in Cameroon:

- 1,530mmscf of gas sold (six months to 30 November 2014 was 719mmscf)

- 23,110bbls condensate offloaded (six months to 30 November 2014 was 11,334bbls)

· Secured a 75% participating interest in the Matanda Block in Cameroon, subject to regulatory approvals


Corporate

· Ahmet Dik appointed as a Director of the Company, and Chief Executive Officer of Gaz du Cameroun S.A.

· Iain Patrick appointed as an independent Non-Executive Director of the Company

· Accounting reference date changed from 31 May to 31 December

· Improved shareholder communications through introduction of quarterly operations updates

Kevin Foo, Executive Chairman said, "Our Company continues to deliver increased production and strong financial results. This confirms that our fully integrated gas utility business in Cameroon works well and has helped insulate us from low oil prices and extremely challenging markets. We intend to build on this foundation to increase production and cash flow in Cameroon and elsewhere in Africa."

http://www.moneyam.com/action/news/showArticle?id=5221976

Victoria Oil & Gas sees revenues soar
Philip Whiterow
07:41 29 Feb 2016

The average amount of gas sold climbed to 8.85 million cubic feet per day from 3.91mln

Sales and profits soared at Victoria Oil & Gas (LON:VOG) as production from its Logaba gas field on Cameroon continued to ramp up.

Victoria supplies customers in the city of Douala and the average amount of gas sold climbed to 8.85 million cubic feet per day from 3.91mln as two new gas-fired power stations came online and new industrial users signed up.

Condensate sales also doubled to 23.1mln barrels.

Revenues in the half year to November jumped by 63% to $18.9mln with underlying profits [EBITDA] over 400% better at US$9mln.

After one-offs, there was a pre-tax profit of US$215,000, while net cash rose to US$6.3mln (US$5. 1mln).

Kevin Foo, executive chairman said he higher production and strong financial results has confirmed its fully integrated gas utility business in Cameroon works well and has insulated Victoria from low oil prices and extremely challenging markets.

Subsiaidiary Gaz du Cameroun has maintained almost all customers within a contract price bracket of $9 to $16 per mmbtu (therm) , he said.

In the current year, Victoria Oil aims to increase supply by 30% and drill two more wells.

SP Angel Morning Oil & Gas: JKX Oil and Gas, Genel Energy, Sound Energy, Victoria Oil and Gas
10:15 29 Feb 2016

• Victoria Oil and Gas (LON:VOG – 48p) – Logbaba Delivering on Promise: Today's interim statement (soon to be followed by the full year statement following the change of accounting reference date) details a company increasingly comfortable with its position in its frontier market, and with defensiveness being effectively delivered by it's midstream exposure; we believe that the Company should do well compared to its peers.

The Company now needs to make sure that the cash generation starts to provide it with a healthy cushion and allows it to fill the midstream space in the wider Cameroon, outside of Douala. That way it will ensure that it becomes the partner of choice for any gas development in country, or the wider West African region, especially Nigeria, which has had trouble progressing its own gas master plan since it was seriously discussed in 2006.

http://www.proactiveinvestors.co.uk/columns/sp-angel/24369/sp-angel-morning-oil-gas-jkx-oil-and-gas-genel-energy-sound-energy-victoria-oil-and-gas-24369.html

From this weeks Interim Report:

The key objectives for the Group for 2016 are to:

Enhance Production Capability

• Increase gas supply to customers by 30% over 2015 levels

• Successfully complete a two-well drilling program for expansion of gas reserves

• Complete designs for increasing the gas treatment plant capacity to 40mmscf/d

Expand Customer Base for Increased Capacity

• Add over 13km to our pipeline network by building in new industrial areas such as Bonaberi and the Douala port area

• Progress new market products such as Compressed Natural Gas (CNG)

Corporate Objectives

• Continue to reduce production and overhead costs across the Group

• Consolidate our advantage as a fully integrated gas utility in Cameroon by actively seeking additional sources of gas via acquisition, joint ventures or corporate deals

• Fund capital projects through revenues, partner contributions and debt

• Expand business development efforts into other parts of Africa, leveraging the successful Cameroon model

• Distinguish the Group’s business and operational successes from other companies in the oil and gas sector so that the Company attracts an appropriate equity market valuation

• Continue to enhance reporting, transparency and corporate governance

At a corporate level, our challenge remains to convince the market that VOG is not an E&P stock, but a B2B utility that has built, owns and operates a full production and gas supply chain in an energy hungry part of Africa. We have strengthened our Board with the addition of Ahmet Dik (Director of VOG and Chief Executive Office of GDC) and Iain Patrick (independent NonExecutive Director).

Your Company has an exciting year ahead of it and I look forward to giving you regular updates on our progress.

Kevin Foo

Executive Chairman
26 February 2016

http://www.victoriaoilandgas.com/sites/default/files/VOGIR15_2.pdf

Not sure if this was on (pretty sure it's recently added) the 'Afex Global Limited' website when posted 20th February (Post 211) or not...........

Cameroon

In December 2015 Glencore assigned 15% of its PI in the Matanda Block to AFEX, increasing AFEX’s PI to 25%, and in February 2016 assigned its remaining 75% PI and the operatorship to VOG through its 100% owned subsidiary, Gaz Du Cameroun Matanda S.A. (GDC Matanda).

VOG is a gas utility company that aside from its interest in the Matanda Block, has a 60% PI and the operatorship, via its 100% wholly owned subsidiary Gaz du Cameroun S.A. (GDC), of the Logbaba Block (Logbaba) which borders the Matanda Block and from which it supplies cost effective, clean and reliable natural gas to industries in the Douala region via a 33 kilometre pipeline network built by GDC.

The existing Logbaba gas network infrastructure will allow for fast-track development of any new discoveries made on the Matanda Block to deliver additional natural gas to local industrial users in Cameroon.

GDC Matanda and AFEX have submitted a new work programme for the Matanda Block to the Government of Cameroon for approval and expects to commence its first phase of seismic data acquisition in Q4 2016. The assignment of the PSC complements VOG’s current development activity at Logbaba, including the previously announced new drilling programme of one twin and one-step out well scheduled for 2016, by securing a significant additional resource base.

The Cameroon energy market

Cameroon continues to evolve as a key African economy with the industrial port of Douala an important import and export gateway for goods to most of Central and West Africa. Power deficits remain a major hindrance to Cameroon’s economic expansion, with demand increasing 7% annually.

Expansion of power generation and distribution remains high on the political agenda and gas, as a fuel source, is seen as a fundamental element of the national energy strategy. Grid power is heavily reliant on seasonal hydroelectric dams to supply 75% of demand and the shortfall is made up from gas and heavy fuel oil. The Logbaba gas and condensate project is a rare example of successful onshore gas monetisation in Sub-Saharan Africa, with energy provision aligned with the national interests. GDC, with the full support of the Government of Cameroon has successfully unlocked natural gas for industrial use.

GDC estimates demand for gas in the Douala and Yaoundé area for thermal and power generation to be in excess of 150mmscf/d. GDC is focused on growing production to help meet this demand and to displace heavy fuel oil by providing a cleaner and more reliable energy source.

http://afexglobal.com/operations/cameroon

Dangote Cement released their Final Results last Tuesday, they have a Plant in Douala which was connected to VOG's natural gas network in 2015.

Cameroon makes solid start

Operations commenced in January 2015 at our 1.5Mta grinding plant in Douala, with the first cement being despatched for sale in March.

The plant achieved a smooth ramp-up and by the end of 2015 was operating at more than 55% capacity, selling 42.5-grade cement into the local market.

We estimate that its market share was about 21% in 2015, despite the presence of well-established local cement manufacturers and importers.

We believe Cameroon will begin to enforce a ban on imported cement in 2016 and this presents an opportunity to substitute around a million tonnes of imported bulk cement with a locally ground product. At present, our factory in Cameroon imports clinker from the Far East, but in time we intend to supply higher-quality clinker manufactured in our Nigerian factories.


http://www.dangotecement.com/wp-content/uploads/reports/2015/Dangote%20Cement-FY2015_Results.pdf

General interest- the March edition of 'Business in Cameroon', VOG mentioned within the Energy Section:

AIX: Gas 2016

Developing partnerships along the gas value chain

28-29 April, London

Co-produced by African Energy, AIX: Gas focuses on bringing upstream and LNG players together with power sector and downstream developers and investors for a frank discussion of project opportunities and investment issues affecting all stakeholders across the gas sector.

Proceedings are held under the Chatham House Rule, and structured round panel-led discussions and roundtables to facilitate dialogue.

Download the 2016 AIX: Gas agenda

Participants include Kevin Foo, Chairman, Victoria Oil & Gas

http://africa-investment-exchange.com/aix-gas-2016/

7th April 2016
Victoria Oil & Gas Plc
("VOG" or "the Company")

Victoria Oil & Gas Secures Government Approval for 75% interest in 1,235 square kilometres Matanda Block in Cameroon

Victoria Oil & Gas Plc, the integrated natural gas producing utility, is pleased to announce that the Government of Cameroon has approved the assignment from Glencore Exploration Cameroon Limited of a 75% participating interest in the Matanda Production Sharing Contract ("PSC") in the Matanda block ("Matanda") to Gaz Du Cameroun Matanda S.A. ("GDC Matanda"). The remaining 25% participating interest is held by Afex Global Limited ("AFEX").

As outlined in the announcement of 18th February 2016 VOG will become Matanda's operator through its 100% owned subsidiary. Details of the work programme will be announced following a forthcoming Operating Committee meeting between GDC Matanda, AFEX and Société Nationale des Hydrocarbures du Cameroun , the Cameroon national oil company.

Matanda covers an area of approximately 1,235 square kilometres and is highly prospective for significant natural gas and gas condensate resources. GDC Matanda will concentrate on the onshore areas of Matanda near the existing Logbaba field with the aim of increasing reserves of gas to be sold into existing and new markets within Cameroon. Work is expected to commence at Matanda during Q4 2016 and will initially involve interpretation of the very large databank of 2D and 3D seismic information with the aim of identifying a drill target.

Kevin Foo, Chairman, said: "We are pleased with the approval of our 75% assignment over the Matanda PSC and are keen to begin our work programme. The large Matanda license area provides the Company with an area over 60 times our existing concession at Logbaba and a critical strategic and geological connection between the two. Upon completion of the current Logbaba two well programme for the second half of this year, we shall turn our attention to development of Matanda".

http://www.moneyam.com/action/news/showArticle?id=5283190

Reported elsewhere: