Victoria Oil & Gas PLC Bomono Farm Out Extension (6357A)
02 January 2018 - 6:00PM
UK Regulatory
TIDMVOG
RNS Number : 6357A
Victoria Oil & Gas PLC
02 January 2018
2 January 2018
Victoria Oil & Gas Plc
("VOG" or "the Company")
Bomono Farm Out Extension
On 6 March 2017 Victoria Oil & Gas Plc, ("the Company") a
Cameroon energy utility, announced that the Company and Bowleven
Oil & Gas Plc ("Bowleven"), the African focused oil and gas
exploration company, signed a farm-out agreement ("the Agreement")
relating to the Bomono production sharing contract.
On 17 September 2017 VOG elected to exercise its option to
extend the termination date of the Agreement to 31 December
2017.
The Company is pleased to confirm that a further extension has
been agreed and discussions on the Agreement are continuing.
Bowleven and VOG are working with the Government of Cameroon to
advance the Bomono project.
For further information, please visit www.victoriaoilandgas.com
or contact:
Victoria Oil & Gas Plc
Kevin Foo / Laurence Read Tel: +44 (0) 20 7921 8820
Strand Hanson Limited (Nominated Advisor)
Rory Murphy / Angela Hallett / Stuart Faulkner Tel: +44 (0) 20
7409 3494
Shore Capital Stockbrokers Limited (Joint Broker)
Mark Percy / Toby Gibbs (corporate finance) Tel: +44 (0) 207 408
4090
Jerry Keen (corporate broking)
GMP FirstEnergy (Joint Broker)
Jonathan Wright / David van Erp Tel: +44 (0) 207 448 0200
Camarco (Financial PR)
Billy Clegg Tel: +44 (0) 203 757 4983
Nick Hennis Tel: +44 (0) 203 781 8330
NOTES TO EDITORS:
Victoria Oil & Gas Plc ("VOG" or "the Company") is a
fully-integrated onshore gas producer and distributor with
operations located in the port city of Douala, Cameroon. Through
the Company's wholly-owned subsidiary, Gaz du Cameroun S.A.
("GDC"), VOG delivers gas via a 50km gas distribution pipeline
network to a range of major industrial customers.
Since spudding its first wells in 2010, the Company has grown to
become the dominant player in the Cameroon onshore gas market,
primarily through the 57% owned Logbaba gas project. GDC is
partnered on this project with RSM Production Company ("RSM"), and
Société Nationale des Hydrocarbures ("SNH"), who have holdings of
38% and 5% respectively.
Subject to government approval VOG will extend it acreage over
3,500km(2) of the highly prospective Douala Basin with the addition
of the Matanda and Bomono license areas. A drilling programme on
the Logbaba asset is underway to add further gas reserves to meet
the growing demand for gas in Cameroon.
Victoria Oil & Gas is listed on the AIM market of the London
Stock Exchange under the ticker VOG.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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