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
    

Translated via google

Electrician Eneo, a subsidiary of the British Actis, announces the extension of its concession in Cameroon for a period of 10 years
Tuesday, June 19, 2018

(Invest in Cameroon) - Electrician Eneo, a subsidiary of Britain's Actis, announces the extension of its concession in Cameroon for a period of 10 years. This is revealed by an internal note issued on June 14 in the company.

More specifically, says the note, Wednesday, June 13, 2018, the Minister of Water and Energy has notified Eneo, the decision of the President of the Republic, Paul Biya, to extend the framework concession contract and contracts derivatives that bind the State of Cameroon to Eneo Cameroon. " This extension runs for a period of 10 years from 18 July 2021 in the generation and distribution segments, it being understood that the transmission concession and the management of the electricity transmission network will end December 31, 2018 , "says the company.

" We would like to express our thanks to the President of the Republic and the Minister of Water and Energy for this decision and for the confidence thus shown to our company and its strategic partner, Actis .", Welcomes the subsidiary . She said that in the next three months, she will work on the formalization of an amendment that will above all allow her to raise funds from donors who have already expressed interest in the development of the sector.

The concession contract of the public electricity service in Cameroon was signed in 2001 for a period of 20 years, between the State and the American company AES. The latter, at the end of 2013, sold all its assets to the British Actis. This investment fund then developed and submitted to the government, as of 2015, an investment program requiring long-term loans, which could not be covered for the rest of the contractual period (less than 10 years).

In order to make these estimated investments worth around 900 billion FCFA over a period of 10 years, an Eneo Board of Directors held on 23 April 2015 in the Cameroonian capital, Yaounde, recommended that the General Directorate " finalize and finalize sign the new addendum to the concession contract between Eneo Cameroon SA and the Republic of Cameroon ". What has just been done.

https://www.investiraucameroun.com/electricite/1906-10967-lelectricien-eneo-filiale-du-britannique-actis-annonce-la-prorogation-de-sa-concession-au-cameroun-pour-une-periode-de-10-ans

22 June 2018

Victoria Oil & Gas Plc

("VOG", "Company" or the "Group")

Preliminary Results for the year ended 31 December 2017



The Company is pleased to announce the financial information for the year ended 31 December 2017.



Operational Highlights

· 3.3% increase in gas sales: 3,684mmscf gross gas sold (2016: 3,566mmscf)

· 10.98mmscf/d average gas production (2016: 10.23mmscf/d)

· Completion of two well drilling programme

· The addition of two prospective areas at Matanda



Audited Financial Highlights

· $23.5 million revenue (2016: $32.8 million)

· $4.6 million underlying EBITDA (2016: $13.1 million)

· $10.7 million loss before tax (2016: $30.0 million)

· $13.1 million net debt (2016: net cash of $1.8 million)

· $39.8 million capital investment (2016: $27.0 million) principally on the drilling programme



Corporate Highlights

· $23.7 million net equity raise via placement and open offer



Post Period

· Significant increase in reserves and resources

· Successful debt restructuring



Kevin Foo, Chairman, said:

"Despite the grid power supply issue, I believe that the Company will grow stronger and create a more diverse product base. We have built a company recognised by our peers as an outstanding entrepreneurial example of creating cash from stranded gas deposits. For the first time in our 14 year history we have considerable gas reserves to secure long term supply contracts."



Ahmet Dik, Chief Executive Officer, said:

"The Company's management is working hard to increase revenue, particularly in more profitable business lines, whilst at the same time driving hard to contract with the large off-take IPP's in Cameroon whose scale of business will enable the Company to become profitable."



Andrew Diamond, Finance Director, said:

"The Group's operational performance for the year ended 31 December 2017 ("current year") was strong at a project level, with the Logbaba Project achieving its highest ever gross gas sales. The successful completion of well La-107 and La-108 in December 2017 ensures the sustainability of gas supply and diversifies production from one to three wells."



Chairman's Letter

Dear Shareholders

In this year's letter I will address the important challenges that we faced and overcame in 2017, discuss those challenges that remain and outline the strategy for the next couple of years. As both a shareholder and director I have reflected in some depth on the assets we have, the business we have built and the challenges that keep us awake at night.

Our Company was listed on AIM 14 years ago and has operated in the FSU and Africa. We have never been a company with a large market capitalisation or had ready access to capital; however, we have survived and overcome the massive oil and gas price fluctuations, the seemingly endless technical challenges to progress our upstream and downstream activities and the occasional company threatening economic or political problems, which taken together, or even each alone, is very creditable.

In Cameroon, we have built a company, Gaz du Cameroun ("GDC"), that is recognised by our peers as an outstanding entrepreneurial example of creating a cash generating business from stranded gas deposits. It is a model that, under the right conditions, can be replicated across Africa's multitude of stranded gas deposits. We were honoured to receive the prestigious "Project of The Year" award at this year's Africa Assembly of the Oil and Gas Council meeting in Paris.

We all have invested in VOG shares because we believe in the future of the Company. It is my and our management's primary objective to deliver the real value of the Company to our shareholders. As Chairman, I am also very aware of the extreme patience that our shareholder base has and their resilience in sharing these challenges with us. Thank you.


Our Assets

As a natural resources veteran, I always look at the resource base that nature has provided us and how we have managed to extract those resources and build something of value. On Logbaba, we finished drilling two production wells in 2017, albeit painfully over budget and behind schedule, but these gas discoveries have added significantly to our reserves and resources.


Earlier this month, we announced a material reserves upgrade for the Logbaba Field, reporting a significant 73% increase in gross 1P gas reserves to 69bcf and a 52% increase in gross 2P reserves to 309bcf. Importantly, the latest reported 2P reserves base at Logbaba would support a 90mmscf/d production rate for ten years, providing the volumes necessary to facilitate a significant expansion in VOG's business in the growing Douala market. We have never been in this position before in our 14-year history and these results open the door to furthering our negotiations with large off-take independent power producers.

We also estimate over 3.7tcf of P50 Prospective Resources at North Matanda, which we could develop as soon as Government approval is received. The Douala Basin is proving to be a very prolific area and your Company has a prime position there.

Let us not forget West Medvezhye ("West Med") in Russia, the resource on which our Company was started. Updated reserve and resources figures show C1 and C2 reserves of 11.8bcf of gas and 15.6mmbls of oil and Prospective Resources of almost 4tcf of gas and 722mmbls of oil.

Our "hard" assets at Logbaba are the gas processing facilities and the 50km of gas pipeline that we laid under the city of Douala to reach our 30 plus industrial customers.


Companies often speak of their staff and employees as their most valuable asset, but I believe in some cases they don't really mean it. Building the Company as we have done needed dedicated and very skilled people who have performed way beyond the call of duty. I believe that shareholders are aware of the total focus and dedication that our Chief Executive Officer Ahmet Dik, Finance Director Andrew Diamond and General Manager Kate Baldwin deliver. But in the field, some other examples come to mind:



Eric Friend, Managing Director of GDC since November 2016 has been instrumental in delivering a disciplined and well organised GDC that operates safely and effectively in the City of Douala. I know first-hand of the daily challenges that Eric deals with.



Eckhard Mueller has been our General Director at West Med in Russia since 2006. He has spent 12 long winters in Siberia carefully managing our project and always looking for ways to add value and save costs. I believe that his dedication is outstanding and with the increased oil price and availability of capital coming back to Russia, West Med is a quality project that we expect will attract a development partner soon and Eckard's patience will be rewarded.



Divine Mofa Diboto has been a key manager on our Logbaba Project since 2011 and has held various positions in GDC. He is a Chief of his tribe and a leading participant in our community relations programme and as such works tirelessly for GDC from within and outside our operations.



In addition to Eric, Divine and Eckhard our entire teams in London, Russia and Cameroon are the true lifeblood of our company.

Our Operations in Cameroon

When I reflect on operations and activities in 2017, the drilling campaigns on La-107 and La-108 dominate. These wells were truly challenging with the costs overrunning the budget by more than 100% and the schedule approximately double what was originally planned. The prime cause of these difficulties was and will continue to be the truly unpredictable ground and well drilling conditions in the Cretaceous zones of the Logbaba Basin. The well control incident on La-108 caused $24.5 million of additional re-drilling and well repair costs. This is subject to an insurance claim where I believe we have a very credible case. These wells have been shut in for future production. The substantial increase in reserves is primarily due to the prolific gas sands discovered in La-107 and La-108. I have learned that nature makes you work hard for her bounty!

In terms of gas production the annual gross production figure for 2017 was a record for the Logbaba Project, with 3.65bcf of gas sold compared to 3.56bcf in 2016. Average daily production for 2017 was a record of 10.98mmscf/d compared to 10.23mmscf/d in 2016.

However, in January this year, due to factors outside of our control, the ENEO Cameroon S.A. ("ENEO") contract was not renewed. Cameroon, like many African countries, is chronically short of power and major cities have regular black outs and brown outs. But the resolution of the issue has taken much longer than we expected and clearly there are other complex factors that contribute to this situation that we are working with all stakeholders to resolve.

Despite the grid power supply issue, which will significantly impact our 2018 financial performance, I believe that the Company will grow stronger and create a more diverse product base in 2018 and we can continue to build the business we have created in Cameroon. We now have the gas reserves in place to meet industrial and grid power demand for large quantities of gas and power that is required by groups other than ENEO. We have also committed to build a more diverse customer base that will see the company less reliant on grid power revenues.


GDC is the single onshore gas supplier in Cameroon. Management estimates that with Logbaba and Matanda, GDC has recoverable gas of at least 2tcf and 50km of gas pipeline and support infrastructure delivering gas to our customer sites. We intend to build on this strong strategic position.

2017 Financial Performance

A cost recovery milestone was reached on Logbaba during 2016 after which revenues are shared in accordance with the participating interests ("Payout"). Whilst gross production increased to record levels on Logbaba in 2017, attributable revenue for the year was $9.3 million lower than the prior year as a consequence of Payout. Payout will apply for future periods, which highlights the importance of scaling up our operations in Douala, Cameroon. With sufficient reserves of gas now in place, this is the principal focus of the management team for the year ahead, a challenge which has not been made easier by the non-renewal of the 50MW power contract.

With a relatively fixed cost base, the reduction in revenue flowed through to the underlying EBITDA which reduced by $8.5 million to $4.6 million.

Further details of our current financial position and uncertainties which may affect the Company's ability to continue operating as a going concern are to be found in the Financial Review below.

2018 Plans

Coming out of a difficult 2017, but with the drilling campaign behind us, we were aiming for continued production growth in 2018. Instead, we were faced with a seasonal drop in demand of nearly 70% and a proportional reduction in revenue and some truly challenging operational and financial hurdles.

Our Executive and Operational teams developed and implemented a plan for 2018, outlined in the CEO's Report, which includes expansion of revenues, with a more diverse customer base, embracing technologies such as CNG, completion of the Matanda approvals, reducing costs and preserving available cash reserves. In this respect the Board have decided that no bonuses will be awarded to Executive Directors for the year ended 31 December 2017.

The Board remain confident of the potential of the demand for gas in Douala, which is currently experiencing regular blackouts following the shutdown of the Logbaba and Bassa power stations. We are now well positioned in our upstream capabilities to reach a much larger downstream gas demand.

VOG has set an ambitious business strategy to substantially increase gas sales by 2021. We still believe that this is achievable as the demand for gas within Cameroon remains robust. However, for this to be achieved within the timeframe, a positive resolution of the current hurdles in the energy sector is required in a manner that fosters confidence in international investors to invest in the sector.

Corporate

In November 2017, we secured net proceeds of $23.7 million in a share placing to new and existing shareholders. We are extremely grateful to our shareholders who continue to show confidence in the prospects in Cameroon.

In relation to the West Medvezhye Project, we are engaged with several interested parties to sell or farm-out our Russian asset.

Our recent sluggish share price has largely been due to the non-renewal of the 50MW power contract. The Board shares the frustration felt by all in the unappreciated value of VOG's shares, especially when the Company had made such significant progress in recent years. We thank our shareholders for their continued support and patience.

At the Board level, after two and a half years of service to the Company Iain Patrick resigned as an independent Non-Executive Director on 23 April 2018. I would like to thank Iain for his sound contribution to the Board. At that time we reviewed our Board Committee appointments and as a result I stood down from the Remuneration Committee and Roger Kennedy was appointed our Senior Independent Director and Chair of the Audit Committee. We will endeavour to appoint a suitable third Non-Executive Director in due course. I would also like to thank the Groups management and employees for a dedicated and focused year of work and our independent Non-Executive Directors for their ongoing guidance.

I would also like to thank, our partners, RSM for their ongoing support of the Logbaba Project and The National Hydrocarbons Corporation of Cameroon ("SNH") for their invaluable in country support.

Kevin Foo
Executive Chairman
21 June 2018
Chief Executive Officer's Review of Operations

Chief Executive Officer's Review of Operations


I am pleased to report on the progress in 2017. The highlights were:

· 2017 gross gas sold was a record 3,684mmscf (3.3% increase on 2016)

· 2017 average daily gas production of 10.98mmscf/d was also a record (2016: 10.23mmscf/d)

· Drilling completed on Wells La-107 and La-108.

· Successful $23.7 million net equity raise via Placing and Open Offer to new and existing shareholders


Operations Review


Gas production continued its upward trend and 2017 gross gas sold of 3,684mmscf was a record, as was the 2017 average daily gas production of 10.98mmscf/d. Production was approaching the capacity of our Logbaba Gas Processing Facility (20-25mmscf/d) when the 50MW grid power was operating at its peak consumption in the dry season. GDC management took the decision to defer any plant or pipelines expansion until reserves were secured and Gas Sale Agreements were signed with large gas consumers.

Until GDC had increased reserves from the new wells, it was unable to commit to the long-term contract conditions required by large gas off-takers who specify minimum levels of reserves to commit to their large capital investments. Following the update of its reserves, Logbaba now has sufficient reserves to support production levels of 90mmscf/d for 10 years, which enables GDC to engage in earnest negotiations with prospective grid power customers.

As previously disclosed, ENEO ceased consuming GDC gas on 31 December 2017. Despite the city of Douala being in a significant power deficit, the use of the Logbaba and Bassa gas-fired power stations was terminated by ENEO for reasons entirely beyond our control. From that point on, Management has engaged with all levels within ENEO, the Government of Cameroon, the Energy regulator of Cameroon, Altaaqa (the generation equipment provider) and other interested parties to reinstate the contract and resume the production of electricity using gas. Negotiations are ongoing and we are ready to recommence the supply of gas as all infrastructure and equipment is still in place.

The disruption in the grid power supply by 50MW coming offline has led to customers seeking independent gas to power solutions. GDC has been working closely with various generator suppliers and is looking to provide an integrated solution to customers. One such example is a Combined Heat and Power (CHP) unit at our customer SCTB, a flour mill and pasta producer, who is consuming gas for power and recycling heat and steam from the generation for process heating. The overall energy efficiency for this CHP unit is significantly higher than the efficiency for power generation alone.

The Compressed Natural Gas (CNG) project has also become a top priority and GDC is working to have customers signed by the end of 2018 and thereafter brought online without delay. We have identified a number of potential customers in Eastern Douala who are within a 30km delivery range. Projected consumption is 1.7mmscf/d of CNG. Stage 1 of the CNG plant is being designed at 2mmscf/d and Gas Sale Agreements are being negotiated with all potential customers. Discussion with technology providers are progressing to ensure a solution is readily deliverable once sufficient customers have customers have been signed up.

Financial Performance

Despite the growth in gross production during 2017, attributable revenue for 2017 was $23.5 million (2016: $32.8 million) which reflects GDC's 57% participating interest in Logbaba, where previously we accounted for higher levels of revenue in recovery of our former exploration costs. This reduction in revenue flowed through to the underlying EBITDA of $4.6 million compared to $13.1 million in the prior year. The loss before tax of $10.7 million translates to a loss per share of 8.86p (2016: $30.0 million and 28.74p). A more detailed review of the financial performance is recorded in the Financial Review below.

The financial performance for 2017 was below expectations and with the loss of revenue from ENEO, the 2018 results are expected to be significantly impacted. Management is working hard to increase revenue, particularly in more profitable business lines, whilst at the same time driving hard to contract with the large off-take Independent Power Producer's ("IPP's") in Cameroon whose scale of business will enable the Company to become profitable.

The Directors have given careful consideration to the appropriateness of the going concern basis in the preparation of the financial statements. Further details of our current financial position and uncertainties which may affect the Company's ability to continue operating as a going concern are to be found in the Financial Review below and are disclosed in the Financial Statements.

Looking forward

Having secured gas reserves, the key strategic directions for the Company are as follows:

· Renew the gas supply contract for the current installed 50MW of power and add further grid power, including new contracts with other IPP's;

· Increase thermal gas sales to existing and new customers;

· Work with existing and new customers to create bespoke gas to power solutions with individual generator designs. These solutions will allow customers to be less dependent on grid power;

· Maximise return from our high-grade gas condensate. Studies have shown that our condensate is very high grade and close in composition to diesel. We currently sell condensate at near to crude oil prices, which is about half the price of diesel;

· Actively develop the CNG and Natural Gas Vehicle (NGV) markets. CNG would compete with diesel and LPG as a source of energy in the more remote regions, it offers considerable uplift on current margins and can be transported 250-300km;

· Sustain progress on the promising Matanda opportunity; and

· Review capital projects, operational and general and administrative ("G&A") expenditure rigorously to preserve cash.



Attainment of these objectives is paramount to the future success and profitability of the Company and the Management team is fully focused on delivering on these strategies.


Logbaba Drilling Programme


The drilling of wells La-107 and La-108 during 2016 and 2017 was very challenging and expensive, but we had success in booking significantly more reserves and two new production wells in the onshore Cameroon Logbaba Field. The new wells supplement the two original Logbaba production wells, La-105 and La-106, which were drilled in 2009/2010. The Logbaba wells were required to meet the growing market demand for gas in Douala, Cameroon, to develop our 1P (Proven) Logbaba reserves, and to move some 2P (Proven plus Probable) reserves into the 1P reserve category. Both La-107 and La-108 were drilled directionally from a drilling pad adjacent to the Logbaba Gas Processing Facility. We have increased Logbaba gross 1P reserves by 73% and gross 2P reserves have risen by 52% (as reflected in the table below).


***More via link below***

http://www.moneyam.com/action/news/showArticle?id=6022619

Not sure if VOG/GDC are involved but it should be an interesting even:

DESCRIPTION

The Cameroon National Industry Forum (FONAIC) is a Forum in which all the stakeholders in the industrial sector get together
to reflect on the Cameroonian industry in particular, by taking stock of its situation and projecting it into the world. future, in
the light of proactive political orientations and national potentialities.

https://www.eventbrite.com/e/forum-national-de-lindustrie-au-camerounfonaic-tickets-46361412232

***********************************************************
On Day 2 (This Wednesday) there is a section "Example of a project for National Industrial Reconstruction: Natural Gas Project for Vehicles"

http://www.minmidt.cm/projet-de-programme-du-fonaic/

26 June 2018
Victoria Oil & Gas Plc

Agreement on Exclusive Compressed Natural Gas ("CNG") partnership

Victoria Oil & Gas Plc, the Cameroon based gas and condensate producer and distributor, is pleased to announce that its wholly-owned subsidiary Gaz du Cameroun S.A. ("GDC") has entered into an exclusive agreement to partner with Naturelgaz Sanayi ve Ticaret A.S. ("Naturelgaz"), Europe's largest CNG supplier and distributor. Naturelgaz is a 93.7% owned subsidiary of Global Investment Holdings ("GIH"), which is an investment company originated from and listed in Turkey (ticker: GLYHO) which focuses on clean-tech and infrastructure investment.


The purpose of this long-term partnership will be to:

· Design, build and operate compressed natural gas ("CNG") infrastructure and solutions for customers who need mobile energy, initially in GDC's home market of Cameroon with the intention of rolling this out into other African countries

· Market CNG products, including bulk CNG and gas-to-power to industry and businesses which require reliable off-grid / off-pipeline energy solutions, as well as Auto CNG for alternative mobility solutions

· Phase 1 agreed between the parties is a 2mmscf/d (21mscm/y) CNG plant and customer distribution project currently in design stage.



Naturelgaz, a 93.7% subsidiary of GIH, is Europe's largest CNG supplier and distributor in terms of mother station infrastructure and bulk sales volume. The company focuses on sales and distribution of bulk CNG to industrial and commercial customers - such as factories, power generators, hotels, asphalt plants - in addition to towns (households) not connected to natural gas pipelines.

Besides the distribution of Bulk CNG to industrial and commercial users, Naturelgaz also focuses on the development of the Auto CNG market in co-operation with CNG vehicle producers.


Kevin Foo, Chairman of Victoria Oil and Gas said, "The agreement to partner with Naturelgaz, starting in Cameroon, brings together GDC's upstream gas capabilities and experience of the Douala energy market with Naturelgaz' proven track record of delivering CNG solutions. We are excited to be adding CNG to our product mix."

Hasan Tahsin Turan, CEO of Naturelgaz said,

"As Europe's largest CNG player we possess significant know-how and expertise in developing and successfully managing complex CNG value chains. We value the high quality of proven gas reserves and the existing asset base of GDC. In partnership with GDC, Naturelgaz will provide CNG energy solutions to where they are needed most - countries like Cameroon with limited energy infrastructure and a huge gap between energy demand and supply.

We are enthusiastic about the tremendous growth opportunities this partnership offers and we are keen bring in our know-how, capital and long-term commitment."

http://www.moneyam.com/action/news/showArticle?id=6026266

Victoria Oil & Gas PLC enters into exclusive CNG partnership (Video)
Published on Jun 27, 2018

Kevin Foo, chairman of Victoria Oil & Gas PLC (LON:VOG), tells Proactive their wholly-owned subsidiary Gaz du Cameroun SA (GDC) has entered into an exclusive partnership agreement with Europe's largest compressed natural gas (CNG) supplier and distributor, Naturelgaz Sanayi ve Ticaret AS.

The purpose of the long-term partnership will be to design, build and operate CNG infrastructure and solutions for customers who need mobile energy, and to market CNG products, including bulk CNG and gas-to-power to industry and businesses.

https://www.youtube.com/watch?time_continue=395&v=x5vrH2-Tlo4

Result of Annual General Meeting ("AGM")
28 June 2018
Victoria Oil & Gas Plc

Victoria Oil and Gas Plc, is pleased to announce that, at the AGM of the Company held this morning, all of the resolutions that were proposed in the Notice of Annual General Meeting which was sent to shareholders, dated 25 May 2017, were duly passed.

http://www.moneyam.com/action/news/showArticle?id=6031247

5 July 2018
Victoria Oil & Gas Plc

Issue of Shares in Lieu of cash payment to a supplier and bonus awards to employees

Victoria Oil & Gas Plc announces that a total of 5,386,729 new Ordinary Shares of 0.5p have been issued by the Company in respect of the following:


· a total of 4,814,815 Ordinary Shares to a supplier in lieu of cash payment to be subscribed at 29.97 pence per share, being the volume weighted average share price for five working days preceding 6 June 2018, the date of the settlement offer from the Group.


· a total of 571,914 Ordinary Shares for bonus awards made to certain employees of the Group for the year ended 31 December 2017. The bonus awards are subscribed at 29.97 pence per share, being the volume weighted average share price five working days preceding 6 June 2018. Directors were not granted bonus awards.


An 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 10 July 2018. Following Admission, the Company will have 150,446,457 Ordinary Shares in issue.

http://www.moneyam.com/action/news/showArticle?id=6041145

General interest,Translated via google:

IMF approves the 2nd review on the Extended Credit Facility for Cameroon, which paves the way for a disbursement of 44 billion FCFA
09 July 2018



Extended Credit Facility (ECF) . This approval will allow Cameroon, we learn in an official statement from the institution of Bretton Woods, to benefit from a new disbursement of 77.8 million dollars, about 44 billion CFA francs.

" Cameroon's performance, under its ECF-supported program, has been mixed in a context of slowing economic activity and security concerns. Expenditure overruns at the end of the year offset the strong non-oil revenue collection, resulting in a higher than expected budget deficit. Nevertheless, the implementation of structural reforms has been generally satisfactory and net foreign assets have accumulated more quickly than expected, due to a tightening of the current account deficit , "commented Japan's Mitsuhiro Furusawa during the meeting. (photo), deputy managing director of the IMF.

As a reminder, following the evaluation of this program in May 2018, the Cameroonian government was invited to take corrective measures on certain aspects that did not bring the satisfaction of the IMF team.

Among these agreed-upon measures, Corinne Deléchat, head of the IMF delegation, told the Cameroonian authorities to revise the 2018 budget, to take into account the unexpected expenses due to the rising cost of energy subsidies, as well as increased security spending; strengthen the control of expenditures and ensure transparent and efficient budget implementation, including " by strictly limiting the use of exceptional expenditure procedures, and by accelerating the implementation of national laws that transpose the main CEMAC directives on management of public finances ".

Concluded on June 26, 2017, for a period of 3 years, the economic program between Cameroon and the IMF foresees the implementation of a certain number of budgetary reforms and an overall budgetary support of a global amount of 680.7 million US $ 378 billion, representing 175% of the country's quota in the IMF.

https://www.investiraucameroun.com/cooperation/0907-11086-le-fmi-approuve-la-2eme-revue-sur-la-facilite-elargie-de-credit-en-faveur-du-cameroun-qui-ouvre-la-voie-a-un-decaissement-de-44-milliards-fcfa

10 July 2018
Victoria Oil & Gas Plc

Notice of General Meeting ("GM")

Victoria Oil & Gas Plc is pleased to announce that a Notice of a General Meeting together with a proxy form has been posted to the shareholders in accordance with individual request.

The GM to consider the Accounts will be held on 7 August 2018 at the offices of Kerman & Co LLP, 200 Strand, London, WC2R 1DJ at 11.00am.

These documents are also available on the Company's website
http://www.victoriaoilandgas.com/ShareholderMeetings

http://www.moneyam.com/action/news/showArticle?id=6047180

Victoria Oil and Gas
@victoriaoilgas
22 hours ago

Congratulations to everyone from @ExproGroup at our #Logbaba Gas Plant who are celebrating 6 years of continuous operation with No Loss Time Injury. We are extremely proud of our safety culture which has allowed us to reach this remarkable achievement #VOG #exprogroup #safety

https://twitter.com/victoriaoilgas


Bits and bobs regarding Expro Group:

Expro provide gas-to-power Early Production Facility (EPF) in Cameroon

Expro Group Website

General interest,Translated via google:

Afreximbank and BDEAC agree on financing of 327 billion FCFA for CEMAC integrating projects
Friday, July 13, 2018


(Invest in Cameroon) - The Central African Development Bank (BDEAC) and the African Export-Import Bank (Afreximbank) signed a co-financing framework agreement of $ 500 million on July 11 euros (about 327.5 billion FCFA), in favor of CEMAC. The signing of the convention took place in Abuja, Nigeria, between Afreximbank President, Dr Benedict Oramah (photo, left), and his BDEAC counterpart, Fortunato Ofa Mbo Nchama (photo, right).

With this financial support, BDEAC affirms that it will be able to respond to the numerous requests for financing projects from the CEMAC countries, made up of Cameroon, CAR, Congo, Gabon, Equatorial Guinea and Cameroon. Chad.

These countries have " resolutely directed their economic policies towards the diversification of economies, with a view to building their development in a sustainable manner ", welcomes the Bank.

On the other hand, says BDEAC, this partnership offers Afreximbank an opportunity to participate in the economic and social development of the countries of the sub-region, through the financing of integrating projects and projects that promote intra-regional trade. -African. In the end, this gives the opportunity to have a better visibility of Afreximbank in Central Africa.

https://www.investiraucameroun.com/banque/1307-11117-afreximbank-et-la-bdeac-s-accordent-sur-un-financement-de-327-milliards-fcfa-pour-des-projets-integrateurs-de-la-cemac

General interest,Translated via google:

Cameroon to submit to the World Bank a project to electrify 687 localities
Tuesday, July 17, 2018



(Invest in Cameroon) - In December 2018, the Cameroonian government aims to submit to the Board of Directors of the World Bank, for funding, a project to electrify 687 localities of the country, through the construction and rehabilitation of lines medium and low voltages.

According to the information revealed on this project, during a workshop held last week in Yaounde, the capital of the country, the project of rural electrification and access to energy in underserved areas in Cameroon ( Perace), will be implemented in six regions of the country: North-West, South-West, Adamaoua, North, Far-North and East.

The perace, which will have to emerge from the dark around 370 000 households, will swallow more than 130 billion CFA francs and should benefit from the financial support of other partners of Cameroon, such as the European Investment Bank, one learns from good sources

https://www.investiraucameroun.com/electricite/1707-11131-le-cameroun-va-soumettre-a-la-banque-mondiale-un-projet-d-electrification-de-687-localites

Decision-making by organizations in an environment that is complex and full of paradoxes
20/07/2018

Joël NANA KONTCHOU , General Manager, Eneo Cameroon Speech during the National Management Days, 28 June 2018

https://eneocameroon.cm/index.php/en/actualite-communiques-en/communiques-communiques-de-presse-en/2679-complexite-et-paradoxes-de-la-prise-de-decision-dans-les-organisations-en

https://eneocameroon.cm/images/pdf/2806Paradox_Decision_Making_Management_Eneo_GM_GICAM.pdf

YF Finance Limited have increased their holding from 3.53% to 4.18%

http://www.moneyam.com/action/news/showArticle?id=6076908

and VOG have updated their website to reflect this increase:

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

so why is YF buying if vog is such a dog?

banjo..take that comment back on lse or i will sue you for slander

I apologise maestro, I was getting you mixed up with someone else.

7 August 2018
Victoria Oil & Gas Plc

Result of General Meeting ("GM")

Victoria Oil and Gas Plc, is pleased to announce that, at the GM of the Company held this morning, the resolution proposed in the Notice of General Meeting which was sent to shareholders, dated 4 July 2018, was duly passed.

http://www.moneyam.com/action/news/showArticle?id=6082463

banjo...was winding you up mate

Thank god for that, I was getting worried! Taught me a lesson anyway so cheers for that.