Victoria Oil (200% Potential)
Irgendwie muss ich blind sein. Ich finde es nicht.
Der Geschäftsbericht für das Geschäftsjahr zum 31. Mai 2009 wurde den Aktionären zugesandt. Die Hauptversammlung der Gesellschaft wird am 1. Stock Konferenzraum, Hatfield House, 52-54 Stamford Street statt, London SE1 9LX am 18. Dezember 2009 um 11.00 Uhr Eine vollständige Fassung des Jahresabschlusses werden auf der Website des Unternehmens zur Verfügung beiwww.victoriaoilandgas.com
Quelle: dpa-AFX
(AIM:VOG)
Operations Update
Victoria Oil & Gas plc, der AIM notiert Öl-und Gas-Explorations-und Entwicklungsunternehmen,mit Vermögenswerten, die in Kamerun und der FSU, freut sich, ein Update auf announceihreLogbaba Gas und Kondensat-Projekt ( "Logbaba")inDouala,Kamerun.
BeiNun La-105, Folgende Nebenwirkungen Verfolgung der 12 --¼cm großes Loch an,9-5/8 ZollGehäuse ist bis zu einer Tiefe von 5,9 eingestellt65Füßegemessene Tiefeund Bohrungenerreichte eine Tiefe von 6330Füßegemessene Tiefe. Ein Top-Laufwerk und dritten Schlamm Pumpe wurden an der Plattform, an Bohrungen zu erhöhen ausgestattetEffizienzund die Ausrüstung für Schlamm-Kühlung wird der rechnerisch ermittelten vor Ort. Total Tiefe von 10.300 Fuß wird voraussichtlich noch vor Ende des Jahres erreicht werden.
MitderGehäuse oberhalb des 90 Meter des Bruttolohnszuvordurchschnittenund gab am16 November2009DiesePay-Bereich wird nuneinbezogen werdenhinterdie endgültige7-Zoll-Linerzu ermöglichen, leichtereventuelle Produktion. Wireline logging hatauchabgeschlossen auf den 12 - ¼ Zoll Loch Abschnitt.
Die GeoDynamicsRorschungSpektroskopie passive seismische Untersuchungen durchgeführt wurden und insgesamt74
Messungen wurden durchgeführt. Die Daten werden nun bearbeitet und die Ergebnisse werden voraussichtlich inringsherumzwei Monate.
Victoria Oil & Gas Plc - Tel: +44 (0) 20 7921 8820 +44 (0) 20 7921 8820
George Donne / Kevin Foo
06 January 2010
Victoria Oil & Gas Plc
("VOG" or the "Company")
Update on Logbaba Gas and Condensate Project, Cameroon
Victoria Oil & Gas Plc, (AIM: VOG), the oil and gas exploration and development company with assets in Cameroon and the FSU, is pleased to announce an update on its Logbaba gas and condensate project ("Logbaba") in Douala, Cameroon.
Well La-105 reached a total depth of 8,920 feet on 1 January 2010 and the well is currently being logged prior to its completion as a development well. Multiple gas-bearing sands were encountered at virgin pressures at depths between 6,017 feet and 8,330 feet, which can be correlated to those found and tested in the nearby well La-103. Well La-103 flowed at rates from 5 to 12 million cubic feet of gas per day from individual sands when drilled in 1956.
The data obtained whilst drilling showed in excess of 300 feet of gross pay and also indicated the presence of over-pressured shale gas in a significant interval. After logging, a 7-inch liner will be run to isolate the sands for future testing and production. Further detailed information on La-105 and drilling of the next well at Logbaba, La-106, will be announced in due course.
VOG Chairman Kevin Foo said, "We are pleased that Well LA-105 has now reached total depth and encountered over 300 feet of gross pay. Notably, the presence of gas in the shale could add upside to previous management interpretations. We will provide further detailed information to the market once the well logs have been completed".
aus `www.Proactiveinvestors.co.uk´:
Wednesday, January 06, 2010
Victoria Oil & Gas says La-105 well at Logbaba field encounters gas bearing sands, shares rise
Victoria Oil & Gas (AIM: VOG) said well La-105 at its flagship Logbaba gas project in Camroon has reached a total depth of 8,920 ft (feet), having encountered multiple gas bearing sands at depths between 6,017 ft and 8,330 ft that could be correlated to those found and tested in the nearby well La-103, which flowed at rates from 5 to 12 mmcf/d (million cubic feet per day) of gas from individual sands when drilled in 1956.
Shares in the company added 6.7% on the news.
The data obtained whilst drilling showed in excess of 300 feet of gross pay and also indicated the presence of over-pressured shale gas in a significant interval. The well is currently being logged prior to its completion as a development well, after which a 7-inch liner will be run to isolate the sands for future testing and production.
“We are pleased that Well LA-105 has now reached total depth and encountered over 300 feet of gross pay. Notably, the presence of gas in the shale could add upside to previous management interpretations. We will provide further detailed information to the market once the well logs have been completed,” said VOG chairman Kevin Foo.
The company is now gearing up to drill La-106, the next well at the Logbaba field.
The proven and probable reserves for Logbaba are currently estimated at 106 billion cubic feet. GeoDynamics Research (GDR) is currently commencing a passive seismic spectroscopy survey over the entire license area, which will take measurements of 50 locations around the field to identify hydrocarbon bearing areas. Initial findings of the survey are expected by mid-January this year.
VOG also develops the West Medvezhye gas field in Russia, planning a second passive seismic spectroscopy study over a large area of the northern and eastern section of the licence block this year. Studies suggest show that this section includes an extension of the super-giant Medvezhye field and VOG believes it stands the best chance of finding stratigraphic traps with superior reservoir quality there.
Fox-Davies Capital raised its price target for the stock to 8 pence from 7p in reaction to the news, and reiterated its 'buy' recommendatiion for Victoria Oil & Gas.
The broker said in a note that La-105 has reached target depth about two months later than expected, due to problems encountered while drilling and that also resulted in a more cautious operational approach adopted by the company subsequently. "We believe it was essential for VOG to carry out the drilling of this well successfully rather than on time, despite the additional costs; having done so is a notable achievement."
"Overall these results are very positive for the company and de-risk the Logbaba project beyond our initial assumptions. Therefore we are increasing our probability of success from 75 percent to 90 to resulting in an increase in our risked NAV calculation which is somewhat compensated by a higher number of shares from additional share placings," the broker added.

19 January 2010
Victoria Oil & Gas Plc
(AIM: VOG)
Update on Logbaba Natural Gas Project, Cameroon
Logs at Well La-105 indicate at least 65 feet of very good quality sandstone pay with additional potential of further 260 feet
Well La-105 being completed for flow testing in this quarter
Spudding of Well La-106 expected in February
Victoria Oil & Gas Plc, the AIM quoted oil and gas exploration and development company with assets in Cameroon and the FSU, is pleased to announce an update on its Logbaba gas and condensate project ("Logbaba") in Douala, Cameroon.
Open-hole logs have been run at Well La-105 and the well has been cased with a 7-inch production liner between 5,950 and 8,750 feet, measured depths. The logs have indicated the presence of at least 65 feet of very good quality gas-bearing sandstone reservoir plus at least an additional 260 feet of gas-bearing sands that may prove to be productive when tested.
La-105 is now being completed as a production well. Immediately following the La-105 completion the rig will be moved about eight metres to the adjacent surface location on the Logbaba drilling pad and the La-106 appraisal/development well will be spudded. La-105 will be flow tested during the La-106 drilling operations.
La-106 is to spud in early February. It will be deviated to target the productive sands of the Logbaba formation, twinning La-101.
Well La-101, the first Logbaba exploration well, blew out when drilled in 1955 by Elf SEREPCA when it encountered the overpressured gas sands of the Logbaba formation. During the blowout the well produced an estimated 0.9 billion cubic feet of natural gas over 38 days before being brought under control.
Kevin Foo, Chairman of Victoria, said today, "Well La-105 continues to provide excellent results. The logs show us that the well will be able to produce more than sufficient gas to meet the demands of the local industrial customers that we have signed up. With La-106 spudding in a matter of weeks, the project is getting closer to first gas sales."
Victoria Oil & Gas Plc - Tel: +44 (0) 20 7921 8820
George Donne / Kevin Foo
Kevin Foo, Chairman of Victoria, said today, "Well La-105 continues to provide excellent results. The logs show us that the well will be able to produce more than sufficient gas to meet the demands of the local industrial customers that we have signed up. With La-106 spudding in a matter of weeks, the project is getting closer to first gas sales."
9 February 2010
Victoria Oil & Gas Plc
("VOG" or the "Company")
Update of Logbaba Gas and Condensate Project, Cameroon
· Well La-106 spudded on 6 February 2010
· La-106 design changed to target most prospective areas of existing discovery
· Testing of La-105 expected to commence in February while drilling of La-106 is on-going
Victoria Oil & Gas Plc, (AIM: VOG), the oil and gas exploration and development company with assets in Cameroon and the FSU, is pleased to announce that Well La-106 was spudded on 6 February 2010 at its Logbaba gas and condensate project ("Logbaba") in Douala, Cameroon.
La-106 is the second well to be drilled by VOG at Logbaba and will twin Well La-101, which was drilled by Elf SEREPCA in 1954. The well will be drilled from the same well-pad as La-105 and, following the results of the passive seismic survey announced on 4 February 2010, will be deviated to a bottom-hole location around 390 metres north-west of La-101 to access one of the most prospective areas of the existing discovery.
The proposed total depth is approximately 8,700 feet (measured depth) and drilling is anticipated to take around 60 days. While La-106 is being drilled, testing of the gas-bearing zones of La-105 will be undertaken and this testing is expected to commence in February.
The La-105 open-hole log data and the passive seismic survey results are expected to justify significant additional proved and probable reserves to the 104 billion cubic feet for the field estimated by RPS Energy in 2008. Logbaba remains the only onshore discovery in Cameroon and is ideally positioned to supply natural gas to industrial customers in Douala, of which around half the existing market has already signed gas off-take contracts and letters of intent at a price of $16 per thousand cubic feet of gas.
Logbaba remains the only onshore discovery in Cameroon and is ideally positioned to supply natural gas to industrial customers in Douala, of which around half the existing market has already signed gas off-take contracts and letters of intent at a price of $16 per thousand cubic feet of gas.
nicht aus, aber meine einzige Erklärung ist diese hier. Im Moment schmiert so ziemlich jede Rohstoff-Aktie (zumindest die, die sich in meinem Depot befinden) fett ab; gleiches gilt für den DAX und für den Ölpreis. Das wird sich auch irgendwann wieder ändern. Wie Du schon des Öfteren angemerkt hast: Geduld ist gefragt. Die News sind ja alle eher positiv; demnächst wird auch mal eine Meldung über erste Lieferungen kommen. Ich bin kein Hellseher und richte mich hier nur an den News und nach meinem Bauchgefühl. Die News sind gut und mein Bauchgefühl sagt, dass es irgendwann hier ganz ganz anders aussieht. Sorry, aber fundierte Gründe für meine (positiven) Erwartungen habe ich leider nicht.
Victoria Oil & Gas spuds La-106 well at Logbaba gas and condensate field, to commence La-105 testing
Victoria Oil & Gas (AIM: VOG) has spudded well La-106 at its Logbaba gas and condensate field in Cameroon after changing its design to target the most prospective areas of the existing discovery.
La-106, which is the second well to be drilled by the company on the field, will twin well La-101, which was drilled by Elf SEREPCA in 1954. The well will be drilled from the same well-pad as well La-105 and will be deviated to a bottom-hole location around 390 metres north-west of La-101 to access one of the most prospective areas of the existing discovery.
Last week, the company said that results from a passive seismic spectroscopy survey at showed a major and previously unknown potential hydrocarbon accumulation, while also indicating best prospectivity in the existing structure to the north of it, which, as a result, impacted the design of La-106. The proposed depth of the well is 8,700 ft (feet), and drilling is expected to take 60 days.
While La-106 is being drilled, testing of the gas-bearing zones of La-105 will be undertaken and this testing is expected to commence in February.
The company said that the La-105 open-hole log data and the passive seismic survey results are expected to justify significant additional proved and probable reserves to the 104 Bcf (billion cubic feet) of gas for the field estimated by RPS Energy in 2008.
VOG is looking to supply natural gas to industrial customers in Douala, saying that half the existing market has already signed gas off-take contracts and letters of intent at a price of US$16 per tcf (thousand cubic feet) of gas.
The proven and probable reserves for Logbaba are currently estimated at 106 billion cubic feet.
Broker Fox-Davies Capital (FD Capital) welcomed the news, saying that the well was spudded on time and operations at Logbaba were now running smoothly after a tight deadline imposed by the authorities and the onset of the rainy season caused problems for the drilling operations at La-105.
FD Capital pointed out what it said was an interesting part of the announcement, which was that the testing of La-105 will start while La-106 is being drilled instead of waiting until the completion of drilling. The broker said it took a lot of encouragement from that as the company made it a priority to get an updated report as soon as possible.
The note said that La-106 will target the “sweet spot” unravelled by the survey and will expectedly penetrate better reservoirs than any other wells previously drilled at the project. Should that be the case, it will materially de-risk the positive passive seismic anomaly to the north of Logbaba, taking the stock to a materially higher price level, said FD Capital, adding that the project was turning out much better than expected and the reserves in the licence could be a multiple of initial expectations, making the broker’s target of 9 pence look “very solid” with a prospect of an equivalent size to Logbaba contributing an additional 8 pence of value.
The 'buy' recommendation for the stock also was retained.
VOG is looking to supply natural gas to industrial customers in Douala, saying that half the existing market has already signed gas off-take contracts and letters of intent at a price of US$16 per tcf (thousand cubic feet) of gas.
The proven and probable reserves for Logbaba are currently estimated at 106 billion cubic feet.
| 106.000.000.000.000 | cubic feet | |
| 16 | US$ per 1.000 cubic feet | |
| 1.696.000.000.000 | US$ |
|
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Broker Fox-Davies Capital (FD Capital) welcomed the news, saying that the well was spudded on time and operations at Logbaba were now running smoothly after a tight deadline imposed by the authorities and the onset of the rainy season caused problems for the drilling operations at La-105.
The 'buy' recommendation for the stock also was retained.