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Victoria Oil & Gas sales fall as Cameroon contract talks continue

Friday, 17th August 2018
Victoria Oil & Gas reported lower second-quarter gas sales after its subsidiary in Cameroon encountered supply issues with a key customer.

The subsidiary, Gaz du Cameroun, remained engaged with ENEO following the non-renewal of a grid power gas sale agreement at the end of December 2017.

Sales from the Logbaba asset dropped to 183m standard cubic feet per day, down from 189m in the first quarter.

'GDC remains confident that a solution will be found, and all parties are actively engaged in the process,' Victoria Oil & Gas said.

'The shortfalls in power supply in Cameroon continue, with hydroelectric schemes not meeting the current demand.'




Story provided by StockMarketWire.com

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