Victoria Oil and Gas have got their licence and on good terms. SNH, the Cameroon state oil company has a 5% stake which was negotiated in 2001, whereas later companies have had to give a higher percentage. Gas should be delivered in Q4 this year which will generate revenue. In addition, VOG have bid for exploration permits in Liberia, they are still awaiting settlement of their Kermerkol field even though it has been written off in their accounts and finally, the jewel ion the crown is the West Med field, next to Gazprom in Russia.
VOG’s future now looks a lot brighter and with 28M shares traded after hours on Friday, I believe that the opening sp should be higher tomorrow.
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