Transaction date: Sep 11
Transaction type: Placing
Amount: £9.5 M
Victoria is an independent oil and gas exploration and
production company with projects in Africa and the FSU. The
Company's principal assets are 60% of the Logbaba gas and
condensate project in Cameroon and 100% of the West Medvezhye gas
field in Siberia, Russia. Logbaba is located in Douala, the
economic capital of Cameroon. The field was discovered in the 1950s
and all four exploration wells flowed gas at rates of up to
62Mmcf/d. West Medvezhye is situated in the prolific Yamal-Nenetsk
hydrocarbon region in Siberia. An independent reserve audit
estimated prospective resources for West Med of over 1.1 BnBOE.
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