Victoria Oil & Gas: Fundamentals & Valuation Summary

Victoria Oil & Gas confirms hydrocarbon presence at Well 103, West Medvezhye


LONDON (AFX) - Victoria Oil & Gas PLC said drilling at its well 103 in the
West Medvezhye Project, Russia, has confirmed the presence of hydrocarbons,
likely to be gas or gas condensate.
It said three intervals with hydrocarbon saturation ranging from 50 to 75
pct and totaling over 55 feet of net pay sands were discovered in the well by
petrophysical interpretation of open-hole logs of up to 3,900 metres.
All of them are located in or around the Bazhenov shale, the source rock for
some of the largest gas and condensate accumulations in the world, the company
added.
It said it will take 90 to 120 days to determine characteristics and size of
the accumulation.
The company added that it is not ruling out the possibility of independent
oil accumulations in the well as several wells in nearby licence areas have
produced crude oil.


mstaub, was it An update on the update, update-update..lol.