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 & Gas

A Q1 2017 operational update today from VOG which has been a stellar performer of late as the market tags on to just how much the stock is undervalued. The key features are, production up, again, two Logbaba wells currently drilling, the Bowleven farm-in under way and initial positive news from Matanda where early seismic shows ‘considerable gas in place potential’.

So, Logbaba gas production is up 10.7%to 14.57 mmscf/d as the dry season continues and thus sales remain on an upward track. Drilling two new wells continues and La-108 has encountered gross pay of 125m of high permeability, high porosity gas bearing sands which should result in a ‘significant increase in proven reserves’. ( Bear in mind that the La-105 well pay was only 84m) The well has since been side-tracked after a ‘well control incident’ that was safely dealt with but will add around five weeks and $8m to the overall cost of the well but will be recouped from revenue. La-107 has been drilled and casing set to 1618m, both wells will be tested in Q2 and complete in Q3. A high pressure gas flowline is being installed to enable early production.

The Q1 revenue was $8.1m (Q4 4.6m) and the current cash position is $14.1m. With record gas sales in March one can remain genuinely optimistic about the future, especially as the company has completed phases 11 and 111 of the pipeline making 50km in total and added six new customers with two more waiting to tap in. This confirms that there is large, unsatisfied energy demand in Cameroon and VOG is very well placed to profit from it.

I have just returned from a visit to see VOG in Cameroon and its subsidiary Gaz du Cameroun (GDC) where I was extremely impressed by the set up and its local management. We visited the Logbaba gas project including seeing the two wells currently drilling and saw the pipeline from Logbaba all the way through Douala. In the process we saw a number of GDC’s key clients, including the ENEO power stations using GDC gas. ( a contract that is shortly due to expire but I am convinced will rollover as negotiations are ‘well advanced’)   Other clients we saw were a palm oil factory, two huge brewing operations at Guinness and SABC as well as Chococam which is part of Tiger Brands, chocolate and beer, what more could you ask for?

Finally we visited Bomono which is intended to supply gas to the other end of the pipe in Douala where significant expansion is already under way. This would complete this part of the jigsaw and whilst subject to Government approval, should mean that either of the existing wells at Moambe and Zingana or even new wells, could supply gas to the rapidly expanding Douala customer base. The existing pipeline is only 9.5km away and most of the route could be constructed through a rubber plantation that has been untapped for several years making the infrastructure much easier.

The VOG format in Cameroon is rapidly becoming a significant money making operation, supplying gas to power projects and substantial commercial customers. There is no sign of any slowdown and the ‘cradle to grave’ utility model is proving to be a highly successful. Cameroon is seeing considerable inward investment, particularly from Chinese companies in the area and I see the total available market for gas to be growing faster than GDC can supply it. It would not be stupid to suggest that some such clients might even help finance the pipeline construction in order to be at the front of the queue for gas. Accordingly, providing the Bomono deal completes, then further gas supplies can be easily and cheaply brought on stream ensuring considerable increases in revenue and profitability.

The longer term but potentially huge opportunities provided by the Matanda block can only add to the model which already looks in very good shape. Recent operational problems aside, I continue to view VOG as a significant opportunity and remain with my current target price of 200p.

'It's been a terrific year and a great quarter', says Victoria Oil & Gas' Kevin Foo (video)
14:37 13 Apr 2017

As part of an operational update for the three months to the end of March 2017, Victoria Oil and Gas Plc (LON:VOG) executive chairman Kevin Foo tells Proactive: ''It couldn't have been better''.

As part of the update Foo mentioned they've hit a large gas pocket at one of two development wells drilled recently at its Logbaba field in Cameroon.

The well, La-108, hit 125m net pay of high permeability, high porosity gas bearing sands that should result in a significant increase in proven reserves.

http://www.proactiveinvestors.co.uk/companies/stocktube/7284/-it-s-been-a-terrific-year-and-a-great-quarter-says-victoria-oil-gas-kevin-foo-7284.html

This was reported on back in February but this a new article:

A Cameroonian Poultry Hatchery Is Benefiting From GE’s Gas Engine Technology
Posted by vera on April 11, 2017



Power generation is one of the most significant challenges facing Sub-Saharan Africa and the shortage of essential electrical infrastructure often means that social and economic development can be negatively affected.

The repercussions of an inadequate power supply are felt by many in the region and particularly by business owners and farmers such as Agrocamin Cameroon, which is a leading poultry hatchery in the central African region.

Given the nature of poultry hatcheries, even a 30-minute power outage can cripple a business as all the eggs in the incubators would perish due to improper storage temperature control. Agrocam, located in Douala, previously used a diesel generator as a backup to ensure the smooth running of its hatchery, but this proved costly given the prolonged outages.

The company has now purchased a GE Jenbacher J316 gas engine from Clarke Energy, GE's distributor of Jenbacher gas engines in Cameroon. According to the International Energy Agency, natural gas will be the fastest growing fuel in use for power generation in Africa.

"GE's natural gas-fired Jenbacher engine will produce a nominal electrical output to power the hatchery and egg tray production facility, providing a highly efficient, economical solution to meet our needs and to realise substantial annual savings," said Philippe Noutchogouin, Agrocam managing director.

The Jenbacher J316 gas engine will produce 813Kw of power for Agrocam. Heat will be recovered from the generator's exhaust gases in the form of hot air and will be injected into the ovens of the egg tray production machines for drying. This will save the cost of fuel currently being used for this process and will therefore increase efficiency, and allow for the optimum use of the gas generator.

"More than ever before, Agrocam believes that a stable, reliable and cost-effective source of power is crucial to revive the poultry business in Cameroon, which suffered a big hit from the 2016 avian influenza [or bird flu] outbreak that paralysed poultry farmers in Douala and the surrounding areas. Energy currently represents 50% of our operational costs," said Jean Samuel Noutchogouin, Agrocam board chairman.

GE's Jenbacher Type 3 gas engines offer proven savings on service and fuel consumption as well as excellent efficiency. They are also suitable for a range of applicable gas types including natural gas, associated petroleum gas, propane, biogas, sewage gas, landfill gas, coal mine gas and other special gases such as coke, wood and pyrolysis gases. "The technical maturity and high degree of reliability of GE's Jenbacher Type 3 gas engines make them a leader in their range. Long service intervals, a maintenance-friendly engine design and low fuel consumption ensure a high operating efficiency, while enhanced components prolong service life," said Ali Hjaiej, Clarke Energy Africa business development director.

Africa is home to many of the fastest growing economies in the world and while this growth is being hindered by unreliable power generation, there are companies such as GE, which are offering solutions to these problems with a range of power products and services.

Video from the recent UK Investor Show of VOG's presentation:

https://www.youtube.com/watch?v=qVi3RBpsrfQ

and the slideshow to accompany it:

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

Victoria Oil and Gas‏ @victoriaoilgas
20 minutes ago

New First Energy GMP research out this morning: ‘BUY with target price increased from £1.15 to £1.20 per share’ #vog

https://twitter.com/victoriaoilgas/status/854596759854755840

Victoria Oil and Gas‏ @victoriaoilgas
20 minutes ago

New GMP First Energy research out today: “A new contract with ENEO is expected to be signed imminently..”

https://twitter.com/victoriaoilgas/status/854597551131119616

Serge Betsen, former French rugby internationa­l, with GDC Head, Eric Friend supporting SB Academy night in Douala

LINK-Historic Shareholder Information

Securities in Issue

Number of shares in issue: 110,193,098

Percentage of shares not in public hands: 3.90%

Free Float: 96.10%

Holdings of Significant Shareholders

As of April 2017 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

Majedie Asset Management Ltd----------- 6,154,761-----------------5.585%
Forest Nominees Limited (GC1)----------- 5,541,000-----------------5.028%
The Capital Group Companies, Inc-------- 4,815,758-----------------4.370%

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

Victoria Oil and Gas‏ @victoriaoilgas
3 hours ago

GDC donates Desktops to Nylon Technical Highschool, Ndogpassi Cameroon for use by 10-18 y olds at the 3000 pupil ecole

Cameroon is moving towards cement production capacity of 7.2 million tonnes per year
Friday, 21 April 2017



(Cameroon) - Cement production in Cameroon will be multiplied from 2018. At the current 4.2 million tonnes of capacity (1.6 million tonnes for Cimencam, 1.5 million tonnes for Dangote, 500,000 tons for Cimaf and 600,000 tons for Medcem), the various producers of the country plan to add another 3 million tons, either through plant extensions or the construction of new production units.

This is the case of Dangote Cement Cameroon, which aims this year to build its second production unit in the country's capital Yaoundé, with a capacity of 1.5 million tons. Cimencam, a Cameroonian subsidiary of Lafarge-Holcim, announces the installation of a new production unit of 500,000 tons in the locality of Nomayos, near Yaoundé; While the Moroccan Cimaf wants by 2018 to increase its current production from 500,000 tons to 1.5 million tons, through the extension of its plant in Douala.

With these new offers, Cameroon's productive capacity will peak at 7.2 million tonnes (against an estimated 3 million tonnes, projected at 8 million tonnes in 2020 according to the Ministry of Industry) 6 million tons of Cimencam before 2014, the year of the monopoly of this company on the Cameroon cement market, thanks to the commissioning of the Moroccan cement plant Cimaf. It was in the first quarter of 2014.

Moreover, will this announced increase in cement production in Cameroon induce the drop in prices that the populations expect since the liberalization in this sector 3 years ago? The issue is all the more acute because despite the opening of three new production units registered in the country between 2014 and 2016, a situation that quadrupled local production at that time, the price of the cement bag of 50 Kg Has experienced only a slight downturn, from 5000 FCFA to 4500 FCFA on average.

The producers, openly accused of unlawful price agreements at a meeting at the Ministry of Commerce in October 2015, rely on the unavailability of clinker in the country and the subsequent imports of this raw material to justify the level Current prices. In order to resolve this price equation for cement on the Cameroonian market, Dangote Cement, it was learned from internal sources, is eyeing the exploitation of the Mintom limestone deposit in the Southern region in order to Ability to locally produce clinker and cause a substantial drop in cement prices on the market.

However, it is well known that the enthusiasm of this cement producer is hampered by the flooding of nearly 70% of the deposit in question by the waters of the river Dja. This situation makes the exploitation of this deposit even more complex, with an estimated 540 million m3 of potential by the Institute for Geological and Mining Research (Irgm).

General interest:

Cross-border power can help Africa overcome low electricity supply rates
Thursday, 20 April 2017

With the recent announcement of an ambitious power project to connect Cape Town and Cairo within the next three years, the opportunities for reliable cross-border electricity generation are once again in the spotlight.

Mark Makanda of global fast-track power provider APR Energy says that cross-border power deals have the potential to exponentially accelerate GDP growth for the whole of the African continent, adding that mobile fast-track power should play a significant part in making this a reality.

“The correlation between electricity supply and economic growth is irrefutable, and the fact remains that no government adequately grows its GDP if power distribution reaches less than half of its population,” Makanda says.

A report published by McKinsey and Company, Powering Africa, notes this is exactly the situation that the vast majority of African countries are facing. According to the report, only seven countries on the continent have electricity access rates exceeding 50 per cent. The report also indicates that countries with electrification rates of less than 80 per cent of the population consistently suffer from reduced GDP per capita.

“The only countries that have electrification rates of less than 80 per cent of GDP per capita greater than US$3,500 are those with significant wealth in natural resources, such as Angola, Botswana, and Gabon. But even they fall well short of economic prosperity,” the report states.

Makanda notes that a major issue in sub-Saharan Africa, even in booming economies like Nigeria and Kenya, is the fact that electricity distribution is confined to major urban centres. “It is estimated that there are over 625 mn people in sub-Saharan Africa living outside of these main distribution grids. Generation capacity is certainly one of the foremost challenges in most countries. The cost of installation, as well as the time frames involved are major barriers to expanding a country’s energy footprint – thereby stifling economic growth.”

Cross-border power, which is a major reason for the existence of Africa’s regional power pools, represents a major opportunity for many countries, he says. “Over recent years, mobile gas turbines have been opening doors to new markets for countries with natural gas reserves. Fast-track power suppliers are able to set up generation facilities near natural gas sources within weeks and ensure reliable electricity supply that can be sold and exported across regional transmission lines to neighbouring countries. For the importing countries, they gain access to much-needed power without the time and expense of installing permanent generating capacity.”

A major advantage of mobile power generation, according to Makanda, is the fact that it can serve as a bridging solution so countries can attract development and grow their economies immediately, as opposed losing out on five to ten years of possible growth while permanent capacity is being installed.

“Another major challenge solved by mobile power providers is the local skills gap. Unlike many providers, however, that bring in skilled labour, APR Energy strives to hire up to 70 per cent of the people who install, operate and maintain our power plants from the local workforce. That requires us to provide intensive training and development to ensure our employees have the necessary skills and knowledge. When our contract expires, those skilled individuals remain in the community and can go on to operate and maintain the newly constructed permanent facilities,” Makanda says.

“It is important to understand that mobile power solutions do not take the place of permanent facilities. But mobile power has proven to be a viable bridging solution that supports economic growth while permanent facilities are constructed. A capable service provider also offers scalable solutions that can quickly react to changing demand,” Makanda says.

APR Energy is the world’s leading provider of fast-track mobile turbine power. The company’s fast, flexible and full-service power solutions provide customers with rapid access to reliable electricity when and where they need it, for as long as they need it. Combining state-of-the-art, fuel-efficient technology with industry-leading expertise, APR Energy’s scalable turnkey plants help run cities, countries and industries around the world, in both developed and developing markets.

Finally, Makanda states that fuel flexibility is vital. “Fuel flexible turbines like the units used by APR Energy can be converted between gas and liquid fuels within minutes, meaning that we offer the ability to immediately react to issues like disruptions in particular types of fuel, or changing costs,” he concludes.

Matanda Exploration Update (75% working interest and operator)

Following assignment of the Matanda licence from Glencore, which materially increased the Company’s acreage position, work is ongoing to evaluate the gas potential of the block. The primary objective of this work is to identify prospects with a high chance of success which can be brought rapidly into production following drilling to meet growing gas demand. This work is benefiting from the proximity of the Bomono license and the experience of operating the Logbaba field; allowing a full integrated analysis to be conducted for the whole Douala area.
Whilst the analysis is at an early stage, we are encouraged by the indications of exciting onshore prospects in the Northern area of the license, near the boundary with Bomono, in structures like the Moambe discovery. Similarly, there appears to be significant onshore potential on the trend between the North Matanda discovery and the producing Logbaba field.

The evaluation is expected to yield an updated prospect inventory by Q3, from which drilling plans can be made. This will provide the opportunity to target the most attractive and lowest cost opportunities for early drilling with the aim of bringing further wells on production in 2018-2019.

Bomono Project (80% working interest)
The Company announced on 6th March that it had entered into a Farm-Out Agreement with EurOil in relation to the Bomono production sharing contract (“PSC”), subject to a number of conditions precedent, which will result in a VOG subsidiary having an 80% working interest in the 2,237 sq. km. licence.  The agreement is in line with VOG’s objective to consolidate GDC’s advantage as a fully integrated gas utility by securing additional sources of gas. The intention is for gas produced from the Bomono PSC to be fed into GDC’s pipeline network.  GDC’s current pipeline infrastucture is only 9.5km away from the drilled wells. The initial plan is that gas currently suspended at Moambe can be brought onstream and that further drilling be considered in the future.

At the start of 2016, Bowleven completed extended well flow tests on the Moambe well that exceeded 7mmscf/d. The Moambe and Zingana exploration wells drilled at Bomono were then suspended as future producers. As previously announced by Bowleven, the detailed prospect inventory prepared indicates there is 146bcf and 263bcf of mean un-risked gas initially in place (“GIIP”) in the Tertiary and deeper Cretaceous reservoir intervals respectively.

Following the execution of the agreement, Bowleven announced significant board changes following a General Meeting of the Company.  VOG is continuing its good relationship with the board of Bowleven and progressing the project as intended.

Hmmmmm, think a dedicated page for each of VOG's subsidiaries is required as we now have Gaz du Cameroun S.A. (“GDC”), Gaz Du Cameroun Matanda S.A. ("GDC Matanda") and Gaz du Cameroun Bomono S.A. ("GDC Bomono").............

Gaz du Cameroun S.A. (“GDC”)

• 57% WI in Logbaba with 121 bcf gross 2P
•  Only onshore gas producer (14.6 mmscf/d in 2Q17) in Cameroon
•  Drilling two wells in 2017 to increase reserves and producTon

Gaz Du Cameroun Matanda S.A. ("GDC Matanda")



Gaz du Cameroun Matanda S.A., a subsidiary of VOG have a 75% participating interest in the Matanda block PSC with AFEX having the remaining 25% interest

•  75% assigned from Glencore in 2016
•  60 Tmes size of Logbaba license area
•  P50 in place resources of over 2.8/ Tcf and 136/ MMbbls
•  Pending Government approvals


7 Apr 2016 VOG - Secures Approval for 75% interest in Matanda Block

x

Serge Betsen Academy:Helping Hand To Underprivileged Kids
Yaboa Ndula MUNTEH
25-04-2017

The academy by famous rugby star provides education, scholarships, medical care and better living conditions to thousands

Rugby, a sport that is yet to attract many in Cameroon on the professional lane, is loved even by the very little ones. On hand to let them understand the values of the sports, Rugby icon, Cameroon-born Serge Betsen, who has played in the French National Team, Biarritz Olympique and London Wasps, has since 2004, created the Serge Betsen Academy not only to train young Cameroonians, but also to reach out to the underprivileged in the domain of education and health.

Since inception in 2004, the academy that stretch a helping hand to over 500 underprivileged kids yearly in education and health care, operates five centres in Cameroon. The rugby centres including Eau Claire in Bangangte, Jardin Eden in Yaounde, Etoudi-Yaounde, Bafia and the latest in Zoetele, carryout rugby training at least twice a week.

During a ceremony to seek prospects of breaking new grounds in Douala, organised by Gas Du Cameroun, the promoter, Serge Betsen disclosed that he uses rugby and its values as vehicles for education and social inclusion. The rugby star, who grew up in the Ekoldongo neighbourhood in Yaounde before moving to France at the age of nine, thanks to the relentless efforts of his mother, returned to Cameroon after 18 years and took the engagement to stand by disadvantaged children, changing their lives while instilling team spirit in them.

On hand to encourage Serge Betsen Academy was the General Manager of Victoria Oil and Gas Plc, Kate Baldwin, accompanied by its subsidiary- Gas Du Cameroun. Apart from being one of the sponsors of Serge Betsen Academy, Kate Baldwin made her company’s intension to sponsor other projects in and around Douala. To her, contributing towards the provision of social amenities and sponsoring life-changing projects is a better way to respect their corporate social responsibility engagement while contributing to the country’s development. Recently, the company constructed a bridge in the Douala III neighbourhood and has been very conspicuous in the domain of education and health.

Also reported via VOG's social media channels:

    

27th April 2017
Victoria Oil & Gas Plc
("VOG" or "the Company")
 
ENEO Gas Supply, Cameroon
Update on Contract Renewal
 
Victoria Oil & Gas Plc announces that negotiations continue between its wholly-owned subsidiary, Gaz du Cameroun S.A. ("GDC"), Altaaqa Alternative Solutions Projects DWC-LLC and ENEO Cameroun S.A. ("ENEO"), in relation to the contract renewal for the supply of gas. 
 
GDC continues to sell gas from Logbaba to ENEO at normal consumption rates for this time of year given the demand for power in Douala.
 
The Company will announce final agreements reached with ENEO in due course.

http://www.moneyam.com/action/news/showArticle?id=5538279

Victoria Oil and Gas‏ @victoriaoilgas
6 minutes ago

New industries in Douala: http://tinyurl.com/m8qqj9h  ‘Mira Company builds a mt capacity cement factory