Victoria Oil & Gas PLC Bomono Farm Out Extension (6357A)

TIDMVOG

RNS Number : 6357A

Victoria Oil & Gas PLC

02 January 2018

2 January 2018

Victoria Oil & Gas Plc

("VOG" or "the Company")

Bomono Farm Out Extension

On 6 March 2017 Victoria Oil & Gas Plc, ("the Company") a Cameroon energy utility, announced that the Company and Bowleven Oil & Gas Plc ("Bowleven"), the African focused oil and gas exploration company, signed a farm-out agreement ("the Agreement") relating to the Bomono production sharing contract.

On 17 September 2017 VOG elected to exercise its option to extend the termination date of the Agreement to 31 December 2017.

The Company is pleased to confirm that a further extension has been agreed and discussions on the Agreement are continuing. Bowleven and VOG are working with the Government of Cameroon to advance the Bomono project.

For further information, please visit www.victoriaoilandgas.com or contact:

Victoria Oil & Gas Plc

Kevin Foo / Laurence Read Tel: [phone]

Strand Hanson Limited (Nominated Advisor)

Rory Murphy / Angela Hallett / Stuart Faulkner Tel: [phone]

Shore Capital Stockbrokers Limited (Joint Broker)

Mark Percy / Toby Gibbs (corporate finance) Tel: [phone]

Jerry Keen (corporate broking)

GMP FirstEnergy (Joint Broker)

Jonathan Wright / David van Erp Tel: [phone]

Camarco (Financial PR)

Billy Clegg Tel: [phone]

Nick Hennis Tel: [phone]

NOTES TO EDITORS:

Victoria Oil & Gas Plc ("VOG" or "the Company") is a fully-integrated onshore gas producer and distributor with operations located in the port city of Douala, Cameroon. Through the Company's wholly-owned subsidiary, Gaz du Cameroun S.A. ("GDC"), VOG delivers gas via a 50km gas distribution pipeline network to a range of major industrial customers.

Since spudding its first wells in 2010, the Company has grown to become the dominant player in the Cameroon onshore gas market, primarily through the 57% owned Logbaba gas project. GDC is partnered on this project with RSM Production Company ("RSM"), and Société Nationale des Hydrocarbures ("SNH"), who have holdings of 38% and 5% respectively.

Subject to government approval VOG will extend it acreage over 3,500km(2) of the highly prospective Douala Basin with the addition of the Matanda and Bomono license areas. A drilling programme on the Logbaba asset is underway to add further gas reserves to meet the growing demand for gas in Cameroon.

Victoria Oil & Gas is listed on the AIM market of the London Stock Exchange under the ticker VOG.

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGRSSIFAFFASELF

(END) Dow Jones Newswires

January 02, 2018 02:00 ET (07:00 GMT)