Victoria Oil & Gas PLC Balance of Cash Call Received from RSM (5987B)
January 08 2015 - 2:00AM
UK Regulatory
TIDMVOG
RNS Number : 5987B
Victoria Oil & Gas PLC
08 January 2015
08 January 2015
Victoria Oil & Gas Plc
("VOG" or "the Company")
$6.4m balance of $10.1m Cash Call Received from RSM
Victoria Oil & Gas Plc announces that further to the
announcement made on 11 December 2014, the balance of US$6,433,306
of the cash call of US$10.1m has been received from RSM Production
Corporation ("RSM").
This payment relates to the Logbaba Gas Project in Cameroon.
Following this payment RSM has now met its share of costs up to 1
February 2014.
RSM is an affiliate of Grynberg Petroleum Company of Denver,
Colorado and holds a 40% interest in the Logbaba Gas 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
Numis Securities
John Prior/Ben Stoop Tel: +44 (0) 207 260 1000
Strand Hanson Limited
Angela Hallett / Stuart Faulkner Tel: +44 (0) 20 7409 3494
Tavistock Communications
Ed Portman / Simon Hudson Tel: +44 (0) 20 7920 3150
Notes to Editors
Victoria Oil & Gas (VOG.L) is an energy utility business and
hydrocarbon producer with energy supply operations in the
industrial port city of Douala in Cameroon.
The Company's wholly owned operating subsidiary, Gaz du Cameroun
S.A. (GDC), supplies cost effective, clean and reliable energy
products to major industries in the Douala region. Industrial
customers are primarily supplied with gas through an extensive
pipeline network built by GDC in the City of Douala. GDC products
currently include thermal gas, condensate and gas for gas-fired
electricity generation. GDC gas is attractive to customers due to
its reliability, price competitiveness, low hydrocarbon emissions
(compared to Heavy Fuel Oil) and adaptability to meet varied power
requirement needs.
VOG also holds 100% of the West Medvezhye oil and gas project
near Nadym, Russia. The field has C1 plus C2 reserves of 14.4mmboe
(under the Russian resource classification system, analogous to
proven and probable reserves under Western conventions) in addition
to best estimate prospective resources of 1.4bboe.
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCDBGDBLXGBGUR
Victoria Oil & Gas (LSE:VOG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Victoria Oil & Gas (LSE:VOG)
Historical Stock Chart
From Apr 2023 to Apr 2024
