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
    

Farm-out deal 'a really good strategic move' for Victoria Oil & Gas, says chairman Kevin Foo (Video)
11:05 06 Mar 2017


Kevin Foo, executive chairman at Victoria Oil & Gas plc (LON:VOG) speaks to Proactive about the farm-out deal they've struck with Bowleven PLC (LON:BLVN).
A complex tie-up will see a VOG subsidiary take an 80% stake in the Bomono production sharing contract (PSC), with Bowleven keeping the remainder and continuing as operator.
http://www.proactiveinvestors.co.uk/companies/stocktube/7041/farm-out-deal-a-really-good-strategic-move-for-victoria-oil-gas-says-chairman-kevin-foo-7041.html

Victoria Oil & Gas/Bowleven

Bowleven has farmed-out most of its stake in the Bomono PSC to VOG, where its gas is currently shut-in, but under the agreement will go into the VOG pipeline with some modest expenditure to connect it to the existing infrastructure. For Bowleven it solves a number of problems, primarily monetising an asset previously holding back growth but by retaining 20% and a modest royalty will keep some of the upside and simplifies the structure. The deal is dependent on a number of criteria not least the failing of the COC resolutions at the meeting next week, shareholders who were thinking of giving the board a bloody nose may now reconsider such actions. Apart from that it is good, approvals should be a formality and production in the last quarter of this year is a realistic thought.

For VOG though I feel that this a much better deal, obviously the fact that it diversifies supply for its pipeline and sales business is good but the way that it does it makes even more sense. Once the Bomono gas is treated it will go via pipeline to the Bonaberi side of the river and serve customers there, whilst the other Douala customers will receive gas from the Logbaba field as they do at present.

With significant gas demand in country and at extremely rewarding prices VOG is set to move to another period of growth. It gets better, BLVN has spent a good deal of time and money creating a huge data pack in the area and there are prospect inventories in both the Tertiary and deeper Cretaceous reservoir intervals. With 2,327 km² there is massive exploration upside and that is just assuming that the shallow wells are drilled to start with, there are many more leads to be looked into after the low hanging fruit has been taken.

In conclusion, this deal is better news for VOG shareholders than has so far been given credit for, it gives almost immediate monetisation, whilst securing a long term value for shareholders at a stroke and for a modest outlay, there is a lot of upside in the share from here.

The shares, which have doubled in value in the year to date, advanced a further 12% in early afternoon trade to 68p each, valuing the business at £83.5mln. Broker Shore Capital thinks the stock is worth is 170p.

“The transaction will provide VOG with additional sources of gas for supply to end users via its pipeline network, whilst providing exposure to exciting un-risked potential,” Shore said.

http://www.proactiveinvestors.co.uk/companies/news/174275/victoria-oil-gas-and-bowleven-strike-cameroon-gas-deal-174275.html

Cameroon is part of the Central African Power Pool (CAPP) along with three other Power Pools cover the whole of Africa where basically power rich countries feed or 'pool' into one network.........

So, on that note this event might be of interest:

28-29 March

15 March 2017 (11:30)
Victoria Oil & Gas Plc
("VOG" or "the Company")

Bowleven General Meeting Result

Victoria Oil & Gas Plc notes the result of the General Meeting of Bowleven plc ("Bowleven"), requisitioned by Crown Ocean Capital P1 Ltd ("COC"), convened in Edinburgh on 14 March 2017 and announced this morning, which has resulted in several changes to the Bowleven board.  

VOG shareholders are also referred to the joint announcement by VOG and Bowleven on the 6 March 2017 which summarised the Farm-Out Agreement ("Agreement") signed between Victoria Oil & Gas Plc and Euroil Limited, a wholly owned subsidiary of Bowleven.

Specifically, as set out in the detail of the conditions precedent to closing of the proposed Farm-Out, it should be noted that only VOG has the option to terminate the Agreement as a result of Bowleven's General Meeting yesterday and resultant changes to its board.

VOG continues to look forward to developing the Bomono project with Bowleven and will shortly be in contact with the board of Bowleven in this respect.
 
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

http://www.moneyam.com/action/news/showArticle?id=5513126

General interest:

DLA Piper advises Victoria Oil & Gas on Bomono farm-out agreement

DLA Piper has acted for integrated energy company, Victoria Oil & Gas Plc (VOG), on a complex farm-out arrangement with Bowleven Plc (Bowleven), the Africa focused oil and gas exploration group. The transaction related to the production sharing contract (PSC) for the Bomono Block, Cameroon.

The Bomono Permit is located in the onshore extension of the Douala Basin. The acreage is characterised by numerous surface oil seeps but is largely unexplored by modern exploration methods.

The farm-out, an assignment of part or all of an oil, natural gas or mineral interest to a third party, will see Gaz du Cameroun Bomono S.A, a wholly owned subsidiary of VOG, take an 80% stake in the Bomono PSC, with Bowleven keeping the remainder and continuing as operator.

DLA Piper advised VOG on the farm-out agreement, royalty arrangements and the structuring of the gas sales / tolling terms.

The transaction was led by Energy partner Charles Morrison, working with associates Lauren Kelsall and Andrew Burleigh.

Water Shortages Plague Major Cameroon Cities
March 16, 2017

"Others rely on rainfall, but dry seasons are now longer and rainy seasons shorter than they were 30 years ago. Augustine Njamshi of the environmental non-governmental organization Bio-Resource and Development Center in Cameroon says constant changes in weather patterns are impacting water supply.

"We have the issue of climate change which is making rainwater harvesting very, very difficult for communities that have been depending on rainwater harvesting to have their source of fresh water for use. So it is a big concern and we think that this has to be redressed as soon as possible. We are endowed with fresh water resources, but we do not have water to drink," Njamshi said"

Cameroon plans to increase Yaounde’s water supply to 500,000 cubic meters in two years by tapping into the Sanaga, one of the country's largest rivers.The move should increase potable water supply from more than 30 percent to 60 percent of the population.

New dedicated and updated page

Cameroon-Industrialisation Master Plan (PDI)

18th March 2017 Cameroon: Public administrations get acquainted with the new industrialisation master plan

25th January 2017 Cameroon plans to become “the factory of the new Industrial Africa by 2050”

10th June 2016 Cameroon: the master plan for industrialisation will prioritise the agro-industry, energy and digital sectors


Central African Power Pool (CAPP)

Equatorial Guinea
2014 Electricity regulation in Equatorial Guinea: overview

Africa Energy

Jan 2018 Power in Africa: Prospects for an Economic Foothold
May 2017 Atlas of Africa Energy Resources (pdf)
Apr 2017 UPDATED REGIONAL POWER STATUS IN AFRICA POWER POOLS REPORT (pdf)

https://cameroon-report.com/environnement/governments-efforts-at-reducing-the-effects-of-climate-change-on-the-environment-in-cameroon/

http://blog.worldagroforestry.org/index.php/2018/06/12/synergizing-climate-change-mitigation-and-adaptation-in-cameroon/

https://www.gwp.org/en/learn/KNOWLEDGE_RESOURCES/Case_Studies/Africa/cameroon-preparing-national-adaptation-plan-for-climate-change-napcc-and-its-investment-strategy-492/

Cameroon: Public administrations get acquainted with the new industrialisation master plan
18 March 2017



(Business in Cameroon) - Familiarise experts in the Cameroonian public administrations with the contents of the Industrialisation Master Plan (PDI) recently adopted by the Cameroonian government to turn Cameroon into “the factory of the new industrial Africa” by 2050. This is the objective of a seminar chaired in Yaoundé by the Minister of Industry, Ernest Gbwaboubou.

As a reminder, the PDI adopted by the Cameroonian government is based on the development of three priority sectors. These are the agro-industry, energy and the digital sector which, considering the impact that their development can have on the rest of the economy, were described as real industrial “sanctuaries” by the experts in charge of developing the PDI.

According to the Cameroonian public authorities, the implementation of the PDI should help increase by 11 points the contribution of the industrial sector to the creation of the country's GDP, taking it from the current 13% to at least 24% by 2035.

From III

Malcy’s 2017 Oil Bucket List

"very positive as usual........

slide at the start 38 secs in - VOG one of the highest risers

07:18 BLVN discussion

09:20 VOG discussion.

enjoy.

flyhigh. "

http://tiptv.co.uk/malcys-2017-oil-bucket-list-gushing-profits-party-just-begun/

UK Investor Show 1st APRIL 2017

•2,500+ people attended in 2016
•More than 120 PLCs to man stalls. present and explain their business

Kevin Foo will be speaking at this event:

https://www.ukinvestorshow.com/

https://www.ukinvestorshow.com/companies/

https://www.ukinvestorshow.com/speakers/

RE- UK Investor Show 1st APRIL 2017

"VOG are scheduled to speak for 20mins at 12.40pm (Winnifrith-Brittan room)." according to 'dactions' over on lse.

A little reminder:


Victoria Oil positioned to meet Cameroon's need for power
12:00 03 Feb 2017

GDC is currently the only supplier of natural gas to Douala, Cameroon’s rapidly growing second city



Victoria Oil & Gas (LON:VOG) has substantial gas assets in Cameroon, a country crying out for energy.

At present, Gaz du Cameroun (GDC), Victoria's local subsidiary, estimates demand for gas in Cameroon for thermal and power generation is in excess of 150mmscf (millions of standard cubic feet) per day.

GDC is currently the only supplier of natural gas to Douala, Cameroon’s rapidly growing second city and, in its own words, it manages the whole value chain from the wellhead to customer connection.

Long-term supply contracts have been established with customers at prices from $9/mmbtu (millions of British thermal unit) to $16/mmbtu and with prices not subject to regulation.

Infrastructure plans include designs for the gas treatment plant capacity to rise to 40mmscf/d and to develop new product areas such as compressed natural gas (CNG).

Matanda can dwarf Logbaba

In addition, taking a 75% stake in the Matanda block earlier this year has given Victoria Oil control of an asset potentially 60 times larger than Logbaba.

The North Matanda field alone is estimated to hold 1.8trn cubic feet (Tcf) of gas and 136mln barrels of condensate on a p50 (50% probability) basis.

That compares with 208bcf of gas and 3.1mmbls of condensate at Logbaba.

The North Matanda Field is an extension of the Logbaba structure and wells drilled already alongside extensive 2D and 3D seismic data have shown a strong geological continuation between the two.

Next steps are a work programme to be agreed by the Cameroon government.

The work programme plan initially is to explore onshore licence areas within a few kilometres of Logbaba and send any discoveries through the pipeline network operated by GDC.

Gas production up by 26%

January 2017 was a record month for gas sales from its Logbaba as a new pipeline to Bonaberi came on-stream.

Three new customers began taking gas during December after the Bonaberi extension. This new supply and increased consumption from state energy company ENEO as the dry season starts had a beneficial impact in January, said Victoria.

“GDC [its local subsidiary] has set a record in monthly supply figures averaging 14.5mmscf/d and peaking at 17.1mmscf/d up to 31 January.”

Bonaberi is an industrial part of Douala, Cameroon’s second city.

In the three months to December, gas sales were a gross 654mln cubic feet (mmscf), up 5% on the previous year, with average production of 7.64mmscf per day. Revenues eased slightly to US$4.6mln (US$4.7mln).

For 2016 in total, sales rose 24% to 3,566mmscf at a daily average rate of 10.23mmscf, up 26%.

Ahmet Dik, chief executive, said: "The Bonaberi pipeline extension provides gas to the western industrial area of Douala, which is fast becoming a new hub for future developments looking to access Douala's port, power and road networks.

Broker upbeat

House broker Shore Capital added that with Phases Two and Three of the Bonaberi pipeline extension completed and new customers coming on stream, Victoria Oil & Gas has made a highly encouraging start to the current,

The ENEO contract is a two year gas supply agreement that expires in the second quarter of 2017. Negotiations are underway to renew the contract.

Exploration at Logbaba drilling programme is progressing well, though costs have risen, while net cash at the end of 2016 was US$1.3mln against Shore’s expectation of debt.

The broker has retained a very punchy 170p share price target set last year and sees lots of potential as it adds reserves, expands customer supply and delivers higher earnings.
 
- updates for sales in 2016 --

Philip Whiterow

http://www.proactiveinvestors.co.uk/companies/news/163676/victoria-oil-positioned-to-meet-cameroon-s-need-for-power-163676.html

Slideshow from yesterdays Investor Show presentation:

http://www.victoriaoilandgas.com/sites/default/files/presentations/170401%20UK%20Investor%20Show%20VOG%20Presentation.pdf

Also the VOG Factsheet has been updated:

http://www.victoriaoilandgas.com/sites/default/files/factsheets/170401%20VOG%20Fact%20Sheet%20Flyer.pdf

RE-UK Investor Show 1st APRIL 2017

Posted on LSE by dactions:

They can sell all their gas
Today 11:06

"I met Lawrence Reed at the Investor show several times Saturday. He was part of a panel on investing in Africa; he gave a 20 mins presentation for shareholders and would-be ones; and I had a long 1 to 1 nearer the end of the show.

He apologised that Kevin Foo was not present because he was standing by on the drilling site. I think LR was confident about the likely outcome. As a company they are now open about how concerned they were a few years back - we've spoken before on this BB about Ahmet Dik's role in coming to VOG to renegotiate previous poor supply contracts. That was fixed in 2015 and they have recognised the need to give the market regular progress reports. They feel better that their share presence is better managed following their Broker change. They can sell ALL the gas they can get.

Going forward, they continue to intend that no single customer will outweigh their intention to maintain pricing and are confident as to their standing in Cameroon politically.

Their confidence is genuine and It really is good news - it's just we're all eager for yet more news !"

Malcy’s 2017 Oil Bucket List
March 23, 2017

09:20 VOG discussion.

http://tiptv.co.uk/malcys-2017-oil-bucket-list-gushing-profits-party-just-begun/

Malcy is on route to Cameroon, not sure if he will tweet any further regarding his site visit but link below just in case

"I'm at CDG heading south to Africa for an exciting company visit......But promise to be back just in time for HUR cap mkts day........"

https://twitter.com/mgrahamwood?lang=en-gb

RE-UK Investor Show 1st APRIL 2017

                                                                  


 

From Malcy's Blog today:


"I am just back from a trip to West Africa, Cameroon to be exact where I was fortunate to see the Victoria Oil & Gas operation in action and to visit Bomono and the Bowleven wells now mostly, part of VOG. Much more on that in due course but it is safe to say that I was most impressed with the whole set up."

http://www.malcysblog.com/2017/04/oil-price-cairnfar-amerisur-resources-president-energy-range-resources-sundry-finally/

Link-Cameroon-Industrialisation Master Plan (PDI)



The Cameroonian government has a rural electrification plan for 10,000 towns by 2035
Friday, 07 April 2017

(Business in Cameroon) - During the cabinet meeting in March, the Minister of Water and Energy (Minee), Basile Atangana Kouna, presented the rural electrification master plan (Pder) of Cameroon developed using a participative method based on the strategic orientations of the State.

The Minee pointed out that the rate of electrification presents huge gaps between urban areas (40%) and rural areas (18%), before highlighting that the Pder’s goals are, among other things, to enable the vast majority of the Cameroonian population to have access to the power grid. Moreover, this master plan emphasise renewable resources, to provide electricity to remote areas far from the power grid, and even, promote the development of production sectors.

Divided into four stages, each lasting five years, the Pder plans to have 10,000 towns not yet connected to the power grid be supplied in electricity by 2035. In this regard, 50,000 connections to the power grid per year are planned over a period of 20 years, thus a total of one million connections, for a global cost estimated at FCfa 805 billion.

http://www.businessincameroon.com/electricity/0704-7039-the-cameroonian-government-has-a-rural-electrification-plan-for-10-000-towns-by-2035

Not very often there's anything worth repeating from advfn but:



Getech Group plc - Interim report for the six months ending 31 January 2017
06 Apr 2017

"Any material recovery in discretionary exploration spending is likely to be a slow build. We do however take some cautious encouragement from recent trading.

Since 31 January 2017, our software and data sales have continued to grow. In March 2017, we signed an agreement with the OGA for them to license our UK MultiSat data across the North Sea. This is the third sale of our products and services to the OGA during FY 2017.

In parallel, the services market has shown signs of gradual improvement. Getech recently signed consultancy agreements with RAK GAS and Victoria Oil & Gas. We have also been engaged by the Government of Lebanon as a senior advisor to their offshore licencing activities."