Victoria Oil & Gas Plc (VOG), full owner of Gaz du Cameroon, ended its 2Q in 2015 last 30 June with an average daily production of 12.6mmscf/d, which equals to a 178% increase in gas production compared to the Q1.
During Q2 the company received $9.8m (around FCfa4.9 billion) cash for 1, 120.09 mmscf and 13,445.1 bbls gas and condensate sold respectively, compared to 404.51 mmscf and 6,345.2 bbls for the previous quarter.
The performance revealed in an update dated 23 July 2015, was marked by a maximal production of 16.9mmscf/d, with an average 5 day working week output of 13.1mmscf/d.
VOG chairman, Kevin Foo (picture) said: “Victoria Oil & Gas continues to make excellent operational and financial progress, welcoming not only the 178% trimestral increase in production, but equally the cash received from sales which is four times that of Q2 2014.”
Mr. Foo adds that the company, which is number one in the Oil and Gas industry in Cameroon, now has the financial strength to pursue the next phase of its growth which is to increase gas production to meet the massive customer demands.
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