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
    

General interest:

Economic Analysis - Construction And Hydrocarbons Will Drive Robust Growth - JUNE 2017
West Africa April 2017 / Cameroon / Economy

BMI View: Cameroon will be a regional outperformer in terms of economic growth in the coming years. In particular, we highlight opportunities in the construction, hydrocarbons and agricultural sectors.

Increased activity in the construction, extractive and agribusiness sectors will see Cameroon post vigorous growth in the coming years. Efforts to develop greater hydropower and transport infrastructure will present opportunities for the construction industry and, over the long term, improve Cameroon's standing as an investment environment. Meanwhile, burgeoning gas production will provide sustenance to Cameroon's declining hydrocarbon sector.

Finally, improvements in cash crop production and more facilities for processing will support growth in Cameroon's large agricultural sector. As such, we expect Cameroon's real GDP growth to average 6.0% between 2017 and 2021, well above the Sub-Saharan African average of 4.5% in the same period.

Hydrocarbons Development Will Build On Declining Sector

Multiple new opportunities for growth exist in the oil and gas sector, which has been in decline since oil production hit its peak in 1985. A floating LNG project led by the LNG shipping company Golar and producer Perenco, which will begin in late 2017, will bolster natural gas production, and see Cameroon becoming a net gas exporter. This will help to diversify the country's exports beyond crude oil and agriculture. There is also further room for investment into the sector, given that Bowleven holds a permit on fields in Bomono and Victoria Oil & Gas holds a permit on Mantanda fields.




*******************************************************
Regarding Bomono-"GDC has recently acquired an 80% participating interest in the Bomono block, which neighbours both the Logbaba and Matanda blocks. The assignment of the participating interest is subject to regulatory approvals. Bowleven Plc will retain the remaining 20% participating interest. "

http://www.victoriaoilandgas.com/sites/default/files/170427%20ENEO%20extention%20RNS%20FINAL.pdf

Victoria Oil and Gas‏ @victoriaoilgas
8 minutes ago

GDC staff reps deliver speech to workers at Labor day lunch at Pulman Hotel



Victoria Oil and Gas‏ @victoriaoilgas ·
8 minutes ago

GDC workers support national Labor Day March, Cameroon

Victoria Oil and Gas‏ @victoriaoilgas
8 minutes ago

Labor Day- End of the day group photo!!!

Labour Day Celebrations in Cameroon

http://www.all-about-cameroon.com/labour-day-celebrations-in-cameroon.html

May newsletter via twitter and Facebook, not sure if available on their website later.

    

AfDB and UN Environment launch the ‘Atlas of Africa Energy Resources‘at the World Economic Forum for Africa in Durban, South Africa
05/05/2017



On 4 May 2017, at the World Economic Forum on Africa in Durban South Africa, the African Development Bank’s Vice-President Power for Energy, Climate and Green Growth, Amadou Hott and the UN Environment Regional Director, Juliette Biao Koudenoukpo, launched one the most important publications in the energy sector, the ‘Atlas of Africa Energy Resources.’ In the presence of representatives of the private sector, key African institutions and Civil Society organizations, Hott highlighted the importance and benefits the publication of the Atlas represent. “We have no doubt that this Atlas will be instrumental in facilitating ease of access to information and data in the energy sector for all stakeholders, including the donor community, African Governments and the private sector,” he said.

He added that development institutions will benefit from the Atlas. “At the African Development Bank, we are convinced that this Atlas will assist us in implementing our ambitious programme under the New Deal on Energy for Africa, whose main objective is to achieve universal energy access in Africa by 2025, Hott said, adding that this would entail providing electricity access to over 200 million households and clean cooking access to around 150 million households.

The Atlas of Africa Energy Resources was produced by the Infrastructure Consortium for Africa (ICA) in partnership with the UN Environment and the Sustainable Energy Fund for Africa (SEFA). The ICA and SEFA are both hosted by the African Development Bank. A G8 initiative, the main objective of the ICA is to increase investments for infrastructure development in Africa, from both public and private sources. SEFA provides resources for renewable energy project preparation and equity investments, as well as technical assistance to African institutions in improving the enabling environment for private investments.

The Atlas of Africa Energy Resources features over 64 maps and 73 satellite images as well as some 50 graphics and hundreds of compelling photos. The Atlas makes a major contribution to knowledge on Africa’s energy sector by highlighting the opportunities and challenges for sustainable development of the energy resources on the continent.

The Atlas, including individual satellite images and other graphics can be downloaded from the website of the ICA and from UN Environment.

New dedicated GDC website


Gaz du Cameroun S. A. (“GDC”)

Gaz du Cameroun, or GDC as we are commonly known, is a fully integrated energy utility company that has pioneered the production and distribution of gas in Cameroon.

As the sole supplier of gas to the nation’s commercial capital, GDC has successfully realised a major new source of clean energy for Cameroon: natural gas. From gas production wells located in the area, GDC has invested over $245 million to safely extract and distribute gas to industrial customers within the port city of Douala.

GDC is proud to supply customers operating across diverse industries, with a range of domestic gas products including thermal gas to drive machinery, gas fired electricity generation sets and condensate liquids that are transported to Cameroon’s largest petrochemical refinery, SONARA.

Our gas causes less wear on customer equipment, such as boilers, and incurs no storage or heating costs. We are currently working with ENEO to provide gas to power stations within Douala, in order to play our part in improving electricity supply to the national grid.

Going to change the link title from:


Link-Cameroon-Industrialisation Master Plan (PDI)

to

Link-Cameroon-Industrialisation Master Plan (PDI) & Africa Energy

UPDATED REGIONAL POWER STATUS IN AFRICA POWER POOLS REPORT (April 2017)

https://www.icafrica.org/fileadmin/documents/Publications/Regional_Power_Pools_report_April17.pdf




Link-Cameroon-Industrialisation Master Plan (PDI) & Africa Energy

From BLVN RNS today:

"On Bomono, the Company is engaging with SNH to discuss the outstanding approval of the Bomono Farm-In which will allow Bomono hydrocarbons to be produced into the VOG, Gas du Cameroon, pipeline.
To that end, meeting dates are being offered to work-out an all-party solution to allow this transaction to conclude and allow work to commence to connect Bomono into the domestic gas market through the existing pipeline infrastructure."

http://www.moneyam.com/action/news/showArticle?id=5547883

and on Facebook & twitter:

    

Cameroon news highlighted via VOG's social media channels:

10th May Cameroon Emerges as Africa Battlefield for Big Cement Makers
05th May Cameroon: Chinese ZPMC delivers a latest generation gantry crane to port of Douala

In December 2016, GDC was pleased to announce the completion of Phase II & Phase III of the Bonaberi pipeline extension programme where a total of 15 km of gas pipeline was laid, including spur lines and metering points

A total of 15 km of gas pipeline was laid, including spur lines and metering points. Seven new customers have been added to our extensive network and they will be consuming gas for thermal applications. The estimated consumption from these new customers will be 600,000 scf/d.

The Bonaberi extension of the central pipeline is part of GDC’s strategy to provide gas to the Western industrial area, which is rapidly becoming a commercial hub for industrial development. GDC is well positioned to meet the growing demand for gas in the energy-hungry city of Douala, by providng energy for Cameroon’s industries, via thermal gas supply or gas to power.

The seven customers currently online or scheduled to be online in January 2017, all using gas for thermal use, include:

Maya & C – Palm oil refinery
OK Foods – Biscuit and sweet manufacturer
Agrocam – Poultry hatchery, egg and corrugated carton packaging
NAYA – Food processing
BATOULA – Plastic processing
BOCOM – Car battery recycling and steel products
Camaco – Cocoa processing

Victoria Oil and Gas‏ @victoriaoilgas
3 hours ago

Article from Cameroon Oil & Gas magazine : GDC Supports Serge Betsen’s Academy.

General interest regarding electricity supply or lack of!

British Aggreko will install 10 MW of thermal power this coming July in Maroua, in Cameroon's Far North
Saturday, 20 May 2017

(Business in Cameroon) - Eneo, the public service concessionaire in the electricity sector in Cameroon, owned by the British investment fund Actis, recently signed with Aggreko, an independent power producer, a contract to install from July 2017, a thermal plant of 10 MW in Maroua, in Cameroon's Far North region.


From official sources, this plant will help in reducing the terrible energy deficit which the three northern regions of Cameroon are currently going through, where almost all towns are without electricity two to three times a week, between 6am and 10pm.


At the origin of this detrimental situation for households as well as companies such as Sodecoton and Cotonnière industrielle du Cameroun (Cicam), who have production units in this area of Cameroon; is the reduction in electricity production by more than 50% on the Lagdo dam.
Indeed, according to authorised sources, the Lagdo dam plant, sole major energy infrastructure in the three northern regions of Cameroon, only produces about 30 MW of electricity, out of an installed capacity of 72 MW.


Experts attribute this decline to the dam’s reservoir being choked with sand, which is not able to retain enough water, and the unfavourable climate conditions, with limited rainfall as a consequence.


Incidentally, advised sources repeat, even in a situation of optimum production, the Lagdo plant is now insufficient to supply in energy the northern regions of Cameroon, whose population has been experiencing a boom since 1982, when this structure was commissioned. The increase in the energy offer in the country, for its part, officially grows at an average rate of 5 to 6% every year.


The hopes of the population in the Greater North regions of Cameroon are therefore focused on the announced construction of the Bini dam in Warak, in the Adamawa region, a structure which will be able to produce an additional 75 MW by the end of 2018. The construction works are carried out by Sinohydro, based on a Chinese financing.

Brice R. Mbodiam
http://www.businessincameroon.com/electricity/2005-7140-british-aggreko-will-install-10-mw-of-thermal-power-this-coming-july-in-maroua-in-cameroons-far-north

Preliminary Results for the year ended 31 December 2016

http://www.moneyam.com/action/news/showArticle?id=5556339

What our Business is and what it can be
 
Shareholders and investors often ask me what our business is. This is not an easy question to answer, as we have some of the characteristics of an energy utility, but we also need to drill gas wells to add to reserves and enable production build out. We also control the full value chain from well head to customer gas meters.
 
I believe VOG is a unique company that has shown very special skills and considerable determination in developing a small, traditionally "stranded" gas deposit, installing a gas distribution network extending 50km into and around Douala to deliver gas to over 25 customers and securing long-term contracts at free market prices for this gas. So, in many respects it is not a question of what we are but a question of what we have done.  The challenge we now face is building our fledgling business into one of four to five times our current size. I believe that this growth is achievable within five years.
 
We will require greater gas reserves and a growing demand for that gas. GDC is very well positioned, as the only onshore gas supplier in Cameroon, to meet this demand, which we believe is greater than 150mmscf/d of natural gas in the Douala region alone. Whilst our average daily production in 2016 was about 10mmscf/d, we are aiming to capture 100mmscf/d of this market by 2021. This production cannot be met by the Logbaba Field alone, so we have long planned to have access, one way or the other, to gas resources on both the Matanda and Bomono Blocks as they were explored, appraised and developed by their previous owners.
 
We estimate that over $350 million has been spent on Matanda and Bomono since 2010, three wells have been drilled (all tested gas), and 650 line-km of 2D seismic and 203km2 of 3D seismic has been acquired, therefore de-risking the projects substantially and to VOG's advantage.
 
As events have unfolded, we are now in a very strong position, with majority stakes in three contiguous blocks, Logbaba, Matanda and Bomono (subject to approvals), and control of over 3,500km2 of prime gas exploration and development territory, covering most of the onshore Douala Basin. These assignments, which cost the Company very little, will be seen in the future as "game changers" that allowed VOG to expand its business and maintain its position as a leading energy provider in Cameroon.  I believe that the prospective resources in these blocks, coupled with the outstanding Logbaba production facilities and our existing gas distribution network, underpins our potential to achieve the 100mmscf/d production target. We are truly becoming a fully integrated gas company.
 
Our subsurface technical team is in the process of assessing all the data across the three blocks and I am very excited with the potential of the onshore prospects, which have never been assessed as a "whole" before. Work is currently underway to identify drillable targets in the Matanda and Bomono Blocks by the end of 2017, with a view to drilling wells in 2018-2019.
 
Among the prospects that have been identified internally is one with un-risked prospective resources of approximately 1tcf of gas in the onshore Matanda Cretaceous Logbaba Formation in a large structure near the Missellele-1 well. This structure is only some 8.7km from the current western leg of our pipeline on the Bonaberi side. There is still more work to do in identifying and evaluating further prospects on the blocks and I am very confident that as the sub-surface team continues its work more prospects of this quality and size will be identified.

http://www.moneyam.com/action/news/showArticle?id=5556339

Victoria Oil & Gas prelims underscore company's progress
08:05 26 May 2017

“Even at record production levels, we meet less than 10% of local demand as the city's industrial economy grows,” said chief executive Ahmet Dik

Victoria Oil & Gas plc (LON:VOG) hailed a 24% increase in output, but said it is nowhere near meeting demand in Cameroon’s second city and industrial hub, Douala.
“Even at record production levels, we meet less than 10% of local demand as the city's industrial economy grows,” said chief executive Ahmet Dik.
The company pumps gas from the Logbaba field via a 50km network of pipes, which includes the recently completed Bonaberi extension, to local businesses.
In the year ended December, output increased to 3.566bn standard cubic feet of gas from 2.968bn a year earlier.

Revenues up sharply 

This generated revenues of US$32.8mln (up from US$21.4mln) and while the company was loss-making to the tune of US$30mln, this was ostensibly the result of a US$22.7mln write-down of Logbaba well La-106.
Underlying earnings (EBITDA) were US$13.1mln. Financially, VOG is in a decent positon with US$14.4mln of debt “headroom”.
Drilling at Logbaba will target additional gas, while the firm’s 75% interest in the Matanda licence adds a prospective resource of 2.8 trillion cubic feet to the inventory.
CEO Dik said: “Looking forward, reprocessing and interpretation of existing seismic and well data from across  the combined area of 3,500 square-kilometre throughout Logbaba, Matanda and Bomono blocks focuses on increasing gas reserves and production to supply an energy hungry and growing industrial market further gas to power projects."

http://www.proactiveinvestors.co.uk/companies/news/178373/victoria-oil-gas-prelims-underscore-company-s-progress-178373.html

"The uninterrupted gas supply to ENEO's two power stations over the course of the first two-year contract has been a successful milestone for GDC. 

The renewal negotiations are ongoing and ENEO continues to consume GDC gas at normal consumption rates for this time of year given the demand for power in Douala. 

Once results for the drilling programme are known, GDC will then be in a position to commit to negotiations that have been ongoing for some time with additional larger gas-to-power projects."

http://www.moneyam.com/action/news/showArticle?id=5556339

The Oil Man: Victoria Oil & Gas
By Malcolm Graham-Wood
Fri, 26th May 2017 - 09:34

Victoria Oil & Gas

Full-year 2016 figures from Victoria Oil (VOG) which, although historic, give a good idea as to the significant advances made last year and so far this year.

Figures show net revenue of $32.8 million and EBITDA of $13 million on record gas sales of 10.2 million standard cubic feet per day (mmscf/d) up 24%. It is useful to know that this is still less than 10% of local demand.

These are good fundamentals despite a $32.7 million write off which includes $22.7 million on the Logbaba well La-106.

With $27 million spent on capital investment on drilling and the further pipeline extension VOG still has $14.4 million headroom on its BGFC debt facility.

The revenue is in line with company’s guidance, getting rid of a royalty is good going forward as are the non cash items. Operationally, drilling continues slowly hoping for no more gas kicks and ENEO are still taking gas so progress is justified.

Chairman Kevin Foo records 2016 as "a great year" with acquisition of extra acreage at Matanda and in 2017 the Bomono deal probably "a game changer" for VOG.
The company isnow firmly in control of the Douala Basin and a recent visit showed quite how much potential there is in the City.

VOG has come on in leaps and bounds and the investment community have so far appreciated that by doubling the share price so far this year. The headline figures have concerned some this morning, but the underlying picture is still very good with huge upside potential in the share price.

http://www.iii.co.uk/articles/416633/oil-man%3A-victoria-oil-gas

Victoria Oil & Gas' Kevin Foo on 'terrific' revenue and gas sales
11:59 26 May 2017

Kevin Foo, executive chairman of Victoria Oil & Gas plc (LON:VOG) talks through the firm's preliminary results for the year to the end of December 2016.

http://www.proactiveinvestors.co.uk/companies/stocktube/7536/victoria-oil-gas-kevin-foo-on-terrific-revenue-and-gas-sales-7536.html

YE16 Res:Cenkos:….VOG is very much moving in the right direction’

YE16 Res:Cenkos:with strong underlying cashflow & t/ new licences signif. increase. the long.-term upside pot…

YE16 Res.: Malcy: ‘The revenue is in line with company’s guidance, getting rid of a royalty is good going forward as are the non cash items.

YE16 Res.: Malcy: ‘These are good fundamentals despite a $32.7m write off which includes $22.7m on the Logbaba well La-106.’

YE16 AR: Analyst WHI:’.and this business should see another stepchange in production later in 17 to feed this energy-hungry part of Africa.’

YE16 AR: Analyst con, WH Ireland: this business generated strong EBITDA in 2016 without the La-106 well..

YE16 Result: Scap:’remain confident in our 170p/share [implements] growth strategy by adding reserves/customer supply & meaningful earnings

YE16 Results: Analyst Shore Cap; ..reiterate strong progress..confirm a creditable underlying financial performance in our opinion