AIM-quoted Victoria Oil & Gas Plc (“VOG” or “the Company”) has pioneered the monetisation of onshore gas in Cameroon from its 60% owned Logbaba gas and condensate project and created a profitable business less than five years from spudding the first wells. Through the Company’s wholly-owned subsidiary and operator of the project, Gaz du Cameroun S.A. (“GDC”), a 35km gas distribution pipeline network has been built feeding gas to a range of industrial customers situated in Douala, the gateway port city to Central Africa. GDC delivered 1,736mmscf in the seven-months to 31 December 2015 (1,967mmscf to customers in the year to 31 May 2015) and is able to set prices on a purely commercial basis with no restrictions on sales set by Government. The Logbaba gas and condensate project is an example of profitable onshore gas monetisation in Sub-Saharan Africa, with energy provision clearly aligned with national interests.
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