Victoria on track for 2013

Victoria Oil & Gas provided shareholders with a positive operational update from its Logbaba gas project in Cameroon’s second city, Douala. Victoria supplies gas to local industry by a pipeline that is being developed in three phases, with the first of these now complete. Continuous production of 1m cubic feet of gas a day has been achieved. That figure is forecast to hit 5m by the year end, on its way to 20m cubic feet by the end of 2013. It is also anticipated that the project will start to generate cash net of costs in October, followed by the whole group a month later.