Independent CPR on the Logbaba Gas and Condensate Field
Victoria Oil & Gas Plc (AIM: VOG), the oil and gas exploration and production company with assets in Cameroon and the FSU, is pleased to announce the publication of an independent Competent Person's Report ("CPR") compiled by petroleum and gas industry specialists ERC Equipoise Limited ("ERCE") on its producing Logbaba gas and condensate field in Cameroon.
Highlights:
· Independent reserve auditors confirm a 50% increase in total 1P Reserves and 1C Contingent Resource gas volumes.
· 1P (Proven) Reserves of 39.1 bcf, plus 32.7 bcf of 1C Contingent Resources, giving potential 71.8 bcf of producible gas (gross), plus 1.14 mmbbls condensate.
· Expect to reclassify Contingent Resource volumes as Reserves, once producibility of Lower Logbaba sands has been established by stimulation and testing.
· Results provide independent endorsement of Logbaba gas security of supply.
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