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
    

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

The Annual General Meeting will be held on 28 June 2017. At this meeting, shareholder approval will be sought for a capital reduction, comprising cancellation of the deferred shares and a reduction of the Company’s share premium account.

The Board considers it desirable to effect the capital reduction to be in a position to make dividend payments or other distributions to Shareholders as and when suitable circumstances arise. 

Further details regarding this are provided in the shareholder circular to be distributed by 2 June 2017. A copy will also be available on our website www.victoriaoilandgas.com

http://www.victoriaoilandgas.com/investors/news/preliminary-results-year-ended-31-december-2016

General interest regarding the Cameroon' National Hydrocarbons Corporation (SNH) and data gathering:

27 May 2017

I can give you the example of Gaz du Cameroun, which exploits the gas from the Logbaba field. This field was discovered before independence by another operator. When Gaz du Cameroun obtained a concession on this field, it sought, apart from information on the old wells, seismic data from 1979-1980 in order to reprocess them and thus improve the underground imagery before embarking on The drilling of new wells.

http://neoindependance.canalblog.com/archives/2017/05/27/35326539.html


Also of interest (although 2 years old now) and where I didn't realise that data from all wells is available to view:

A database at the disposal of operators The Petroleum Information Centre of SNH makes available to oil companies:

- well data (samples, various reports, logs);
- geophysical data (seismic, gravimetric, magnetometric);
- various technical studies available on paper and electronic medium.

Moreover, the Centre, which markets the data on paper and electronic medium, generates updated and digitalised maps.

Also of interest:

Reliable partners

SNH partners with various iternational companies notably Glencore, Murphy, EurOil
(subsidiary of Bowleven), Noble Energy, Dana Petroleum, Addax Petroleum, Kosmos Energy, Yang Chang, Perenco and Gaz du Cameroun (a subsidiary of Victoria Oil & Gas).

http://www.snh.cm/PublicationHydrocarbures/Plaquette%20SNH%202014_english.pdf

From the Preliminary Results 26th May 2017

The Logbaba Engine Room
 
We have built this Company on the Logbaba gas deposit and for the near future Logbaba will still be the "engine room".  Our focus in 2016 was to significantly increase production - this was achieved.  Each year more than a hundred thousand new connections are made onto the power grid in Douala to satisfy the demands of people and businesses. This growth is not stopping, so last year we committed to drill two more development wells at Logbaba with the aim of increasing our Proven (1P) Reserves and to create two additional production wells. Drilling is ongoing, with target depths of both wells at the base of the Logbaba Formation, some 3,200m below surface.
 
The Logbaba drilling programme, which experienced a delayed start, is progressing, despite some challenges. These are complex, high temperature, high pressure wells.  However, we are very excited that over 125m of gross gas bearing sands have been encountered in La-108. This is significantly more than the 85m of gross pay found in La-105 in 2010. When the wells are completed we expect to be transferring a portion of our Probable Reserves into the 1P category.  The completion of the drilling programme will also trigger our processing plant expansion project to double the plant capacity to 40mmscf/d. This will enable us to supply more gas and take advantage of some of the bigger and longer term supply opportunities in the region.
 
In 2016, GDC's gas distribution network grew 15km into the expanding Bonaberi industrial area of the city.  Early this year, we reached the 50km milestone of pipe laid, an outstanding credit to the Company and in particular our 100% Cameroonian pipeline team.  Additional thermal customers along this extension were commissioned pre and post year-end.  Douala's economy continues to grow and our gas network contributes to the attractiveness of the port city to new industrial businesses. We are witnessing this first-hand through our sales enquiries in GDC.
 
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.
 
What we continue to achieve in Cameroon is exceptional. 

http://www.victoriaoilandgas.com/sites/default/files/170526%20RNS%20Results%20for%20the%20year%20ended%2031%20December%202016%20FINAL.pdf

5 June 2017
Victoria Oil & Gas Plc

Annual Report & Accounts for the year-ended 31 December 2016
 
Victoria Oil & Gas Plc announces that the following documents are now available on its website at www.victoriaoilandgas.com/agm :
 
·        2016 Annual Report and Accounts
·        Shareholder Circular including the Notice of Annual General Meeting
·        Proxy Form
 
Copies of the above mentioned documents will be posted on 5 June 2017 to the Company's shareholders as per individual request.
 
The Company's shareholders can elect to receive notification by email of the publication of future annual reports by registering on www.investorcentre.co.uk.
 
The Annual General Meeting of the Company will be held on 28 June 2017 at the Coin Street Neighbourhood Centre, South Bank Room 1, 108 Stamford Street, South Bank, London SE1 9NH at 11.00am.
 
http://www.moneyam.com/action/news/showArticle?id=5561301

Report & Accounts to 31 December 2016

From advfn:

Edit-removed posts due to offending language.............

Just re-entered long and hard

8 June 2017 
Victoria Oil & Gas Plc
 
Issue of Shares in Lieu of Bonus
 
Victoria Oil & Gas Plc announces that bonus awards have been made to certain employees of and consultants to Gaz du Cameroun S.A., the Company's wholly-owned subsidiary, for the year ended 31 December 2016 and that they have elected to receive this by subscribing for new ordinary shares of 0.5p in the Company ("Ordinary Shares") at 41.5 pence per share, being the volume weighted average share price for the period 1 January 2016 to 28 April 2017.
 
Accordingly, in aggregate, 378,664 new Ordinary Shares have been issued and application has been made to the London Stock Exchange for the admission of the new Ordinary Shares to trading on AIM ("Admission").  Admission is expected to become effective and dealings in the new Ordinary Shares are expected to commence at 8.00 a.m. on 13 June 2017. Following Admission, the Company will have 110,571,762 Ordinary Shares in issue.

http://www.moneyam.com/action/news/showArticle?id=5563788

Victoria Oil & Gas PLC (AIM: VOG) 
8 June 2017
Victoria Oil & Gas Plc

PDMR Shareholding
Deferred Shares Bonus Awards
 
Victoria Oil & Gas Plc announces that on 7 June 2017, bonus awards of 880,121 ordinary shares of 0.5p in the Company ("Ordinary Shares") in aggregate were granted to the Executive Directors under the Company's Annual Bonus Plan for the year ended 31 December 2016.
 
Half of the bonus awards will vest on 1 January 2018 and the remaining half on 1 January 2019. The Ordinary Shares are to be issued in lieu of cash bonuses at 41.5p per share, the volume weighted average price for the period 1 January 2016 to 28 April 2017.
 
The below notification, made in accordance with the requirements of article 19.3 of the EU Market Abuse Regulation, gives further details:

***via Link Below***

Basically............

1.     Kevin Foo (Executive Chairman) 240,964


2.     Ahmet Dik (Chief Executive Officer) 433,735


3.     Andrew Diamond (Finance Director) 205,422

http://www.moneyam.com/action/news/showArticle?id=5563794

Victoria Oil and Gas‏ @victoriaoilgas
6 hours ago

http://tinyurl.com/y8zcjwu8  ‘ Camrail and Italian company Italfer to modernise Cameroonian railways


Victoria Oil and Gas‏ @victoriaoilgas
6 hours ago

http://tinyurl.com/yanklpyr  ‘VOG S.holders Are Liking The News That GMP Sec. Has Reiterated Their Buy Rating on the Stock’


Victoria Oil and Gas‏ @victoriaoilgas
6 hours ago

http://tinyurl.com/y9ydzrn4  Mira Ltd announced construction of 1 tea cement plant in Douala, investment of CFA 32 billion

LINK-Historic Shareholder Information

Securities in Issue

Number of shares in issue: 110,571,762

Percentage of shares not in public hands: 3.90%

Free Float: 96.10%

Holdings of Significant Shareholders

As of June 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-----------------5.566%
Forest Nominees Limited (GC1)----------- 5,541,000-----------------5.011%
The Capital Group Companies, Inc-------- 4,815,758-----------------4.355%

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

LINK-Historic Shareholder Information

Securities in Issue

Number of shares in issue: 110,571,762

Percentage of shares not in public hands: 3.90%

Free Float: 96.10%

Holdings of Significant Shareholders

As of June 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-----------------5.566%
Forest Nominees Limited (GC1)----------- 5,541,000-----------------5.011%


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

21 June 2017
Victoria Oil & Gas Plc
 
Update re significant shareholder
 
As of 16 June 2017, The Capital Group Companies, Inc. ("CGC") is no longer a shareholder in the Company.   
 
CGC have also advised the Company that it was not required to file any further TR1 notifications following its most recent notification of 17 April 2017. 
 
The significant shareholder section on the VOG website has been updated accordingly.
 
http://www.moneyam.com/action/news/showArticle?id=5571028

Translated by Google

Eneo, a subsidiary of the British firm Actis, extends the collaboration of eight months with the Saudi Altaaqa and the British Gaz of Cameroon
Thursday, 22 June 2017

(Investing in Cameroon) - Eneo, a subsidiary of the UK-based Actis, said it had just extended its contracts with Altaaqa (Saudi Arabia) and Gaz du Cameroun (a subsidiary of the operator) British Oil & Gas) until December 31 for the 50 MW of the Bassa-Logbaba gas plant.

The contract was originally signed in April 2015 for a period of two years. It was extended until the end of 2017. That is, eight months longer. The cost of this partnership between the two parties with Eneo at the beginning was 20 billion FCFA. " On the financial front, prorogation resulted in negotiations that resulted in reductions of around 16% on the price of gas and almost 33% on the rental price of the groups. Eneo retains these capacities as an emergency solution pending the commissioning of new works, in particular the Memvele dam (+200 MW). The 50 MW of installed capacity is available for the South Interconnected Network (RIS), "explains the Cameroonian subsidiary of the British Actis.

The Logbaba plant was developed at two Eneo technical sites in Douala. In Bassa, it is 16 groups with a capacity of 20 MW and in Logbaba, it is 24 groups with a capacity of 30 MW. Each has an installed capacity of 1,475 MW. Under the terms of the contract, Altaaqua has installed 40 turnkey machines for the production of electricity from the gas supplied to Eneo Gaz of Cameroon. Eneo Cameroon therefore pays for the rental of groups and the supply of gas.

Eneo estimates that between 71 and 73 GWh of energy it will inject into the RIS by December 31, 2017.

http://www.investiraucameroun.com/electricite/2206-9051-eneo-filiale-du-britannique-actis-prolonge-la-collaboration-de-huit-mois-avec-le-saoudien-altaaqa-et-le-britannique-gaz-du-cameroun