25th Jun 2020 15:49
Victoria Oil & Gas PLC - London-based gas producer & distributor - Covid-19 outbreak has resulted in delay in relation to preparation of its 2019 results. Granted an extension to the June 30 deadline and will now post its results by September 30. Revenue for 2019 was USD20.6 million, up from USD10.8 million in 2018. Revenue to May 31 was USD8.6 million, down 1.2% year-on-year. Unit Gaz du Cameroun SA has continued to sell natural gas to over 30 customers in Douala as lockdown relaxations and the usual seasonal swing has resulted in an increase in demand. The suspension of generation and gas supply at ENEO Cameron SA's Logbaba site - which commenced in September - continues with the amount outstanding from ENEO at May-end totalling USD15.5 million. As at May 31, Victoria had cash of USD5.0 million
Current stock price: 3.85 pence
Year-to-date change: down 41%
By Ife Taiwo; [email protected]
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