VOG’s Cameroonian Assets Earned $23.6m in H1/2016

VOG’s Cameroonian Assets Earned $23.6m in H1/2016

Victoria Oil and Gas (VOG) announced operational and interim results for its Cameroonian assets, during the first half of 2016. The company earned  $23.6m in revenues, as well as achieving a 93% increase in per day production and 50% growth in sales with 2,282mcf of gas, Ecofin Agency reported .

During the same period, the Africa-focused company was able to recover the initial exploration costs of the Logbaba onshore gas project, informed Post Online Media. According to VOG, preparation for drilling operations on the site have finished and the phase 2 of the expansion work on the Bonaberi pipeline to link new thermal clients is in progress.

VOG’s Chairman, Kevin Foo said: “the first half of 2016 has been a stabilizing period in the company, as we deliver on our strategy to increase production and grow our pipeline network in Douala, Cameroon.” He added that the company is looking to increase production capacity at its processing plant. In 2015, VOG changed its accounting reference date to 31, December. These interim results report on the six-month period to June 30, 2016, with the comparative period covering the six-month period ended 30, November 2015.


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