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VOG is presently drilling Well 104 in its West Medvezhye field,and expected to reach depth in 4 weeks from spud date of 30th June, that makes 27th July(this week).
Results of testing will be sometime mid/late August, with a positive outcome
it could be HUGH.
With estimates of 134BILLION cubic metres of GAS and 201 Million barrels of Gas
Condensate,it will be a Company Maker. The field is in the area of the largest gas field in the WORLD.
Other assets include Kemerkol in Kazakhstan, with C1 reserves of 8.7MBO
and C2 reserves of7.8MBO. Another acquistion is Tamdykol with potental
reserves of 34MBO, it also has interest in 2 blocks in the North Sea.
You can check it out on www.uk-wire.com, and its own site of www.victoriaoilandgas.com.
It has excellent management team led by Kevin Foo, who hopes to turn it into
a Mid Cap Company(�500m+) in the not to distant future.
As i stated earlier in the post, Drilling is almost complete so it won't be long to Lift Off?
Well, Well worth checking out.
cyril

http://www.investegate.co.uk/Article.aspx?id=201111040700164867R

http://www.investegate.co.uk/Article.aspx?id=201111290700139263S
http://www.investegate.co.uk/Article.aspx?id=201112200700132888U
http://www.investegate.co.uk/Article.aspx?id=201207090700051587H
http://www.investegate.co.uk/victoria-oil---38--gas--vog-/rns/rsm-default/201401130700074445X/
http://www.investegate.co.uk/victoria-oil---38--gas--vog-/rns/interim-results/201402280701321590B/
http://www.investegate.co.uk/CompData.aspx?code=VOG&tab=announcements

SOLD OUT TODAY...BUYING BACK AT 2.6P

the management sold out the investors in 2006! .... sp was then 25x higher

sounds like TMC hope RKH doesn't go the same way!

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KeywordCompanyEPIC/TIDMSEDOL/ISINNews PriceAnnouncementsFundamentalsNewsArticleRSSVictoria Oil & Gas (VOG)Add to Alerts list Print Mail a friend

Wednesday 20 October, 2010Victoria Oil & Gas
Reserves Update
RNS Number : 6543U
Victoria Oil & Gas PLC
20 October 2010



Victoria Oil & Gas PLC

20th October 2010



Victoria Oil & Gas Plc



("VOG" or the "Company")



Reserves Update

Logbaba Gas and Condensate Project, Cameroon



Highlights



Logbaba Proved Reserves increase almost five fold to 49 Bcf

Proved plus Probable (2P) reserves more than double to 212 Bcf

Prospective Resources evaluated to be in excess of 1 Tcf





Victoria Oil & Gas Plc (AIM: VOG), the oil and gas exploration and development company with assets in Cameroon and the FSU, is pleased to announce an update on its reserves and resources potential at Logbaba, Cameroon. The update was completed by Blackwatch Petroleum Services Limited, ("Blackwatch"), which act as consultants to the Company.



Logbaba is the first commercial onshore gas field in Cameroon. The field is located in the eastern part of Douala, the industrial capital of Cameroon and the seaboard hub of Central Africa and its member countries.



The Proven and Probable (2P) gas reserves in the Logbaba field are contained in Campanian and Santonian age sands of the Logbaba Formation. New structure maps were constructed based on correlations of the Logbaba sands incorporating new and old well data as well as existing seismic data. Remotely sensed imagery was acquired and analysed to provide a structural framework for Logbaba. Blackwatch has completed the Logbaba reserves review, integrating the recent well logs and well test data from the successfully drilled and completed new wells La-105 & 106 and the original four wells drilled in the 1950s by Serepca.



All six of the wells drilled in the Logbaba block to date have encountered significant gas intervals and all five wells that were tested flowed gas to surface. To date, only the Logbaba Formation gas sands have been tested. The deepest well on the block, La-104, encountered good gas shows, not only in the Logbaba Formation but also in the deeper Turonian age gas-bearing sands where the well reached a target depth of 13,688ft (4172 metres).



The updated gross Reserves potential for the Logbaba Field is highlighted in the table below. The Company holds a 60% working interest and is operator in the Logbaba Block.



Logbaba Reserves, 100% Basis (Bcf)



Category


July-2008


Oct-2010

Logbaba Field (10 to 20% of Block Area)



Upper Logbaba Proved Reserves (1P)
10
49

Proved + Probable Reserves (2P)
104
212

Proved + Probable + Possible (3P)
202
350

Entire Logbaba Block



Prospective Resources
n/a
>1000






The Company continues to sign gas supply contracts with industrial end users in Douala, including some multinational firms. Due to the shortage of domestic gas supply and the high costs of alternative energy, VOG aims to benefit from its significant first mover advantage and capitalise on Cameroon's strategic location and growing energy demands. The Company offers a considerably cheaper source of fuel and reliability of supply to industrial users, power suppliers and liquid fuel users. Approximately 80% of the initial customer base lies within a 10km radius of the deposit and the Company forecasts that the market could grow to over 100MMscf/d within the next five years.



The Company is also actively working with the Cameroon National Oil Company ("SNH"), and the Ministry of Industry, Mines and Technology on permitting and expects the Exploitation Authorisation and other key permits to be issued in the near future. The majority of pipeline material has now been delivered to Cameroon and the Company is ready to start installation as permits

I do believe now that this is going to come right.....the sp should go above 5p at the very least !.

Starting to creep up now.....has to climb....

Hi Cyril

Do you think Victoris Oil and Gas will fly? It is supposed to be on track with its pipe lines etc. I know it is going up a little every day but do you think it could be soon? Get a little scared these days with having so much tied up in everything which has gone down!!!!!!

strong buy...licence end of today

I'm expecting a series of good things for this company and the sp to double (at least) from here....

5.5p!!! Only taken a year to get there!

So how many years to get back to 2 ..... Don't think I've got that much time!:-(

Live long and prosper, maggie.

Thanks Hyleo will try to do, but don't think Victoria will be adding to the coffers.
Still I thought that about AMER and I'm finally in profit -just- there!

Well funded now...and gas sales very soon....by the flow rates : a heck of a lot of income will be generated next year....

StockMarketWire.com
Victoria Oil & Gas has raised 10.8m before expenses via an equity placing and draw-down under its standby equity distribution agreement with YA Global Master SPV.

The net proceeds will help bring forward the expansion phase of the group's Logbaba Gas Project, Cameroon, and to extend the pipeline to areas of Douala.

The funds will also be used to facilitate working capital requirements until Logbaba's first gas sales, scheduled for Q1 2011.

The placing price of 4.9p represented a 12% discount to the latest five-day weighted average price.

This will settle and start to rise again......well worth waiting for further rises....

Does anyone know why the sp is rising rapidly?

No

Cold weather in Cameroon ......a penguin was sighted offshore !....

Don't fret! This will settle and go back down again!, always does.......hope I'm wrong this time though!