23rd Apr 2015 07:22
LONDON (Alliance News) - Victoria Oil & Gas PLC Thursday said its Gaz du Cameroun SA subsidiary has met its obligations to ENEO Cameroun SA, after it started supplying gas to the Logbaba power station in Cameroon.
The Logbaba power station is now delivering 30 megawatts of power to the grid, which added to the 20 megawatts supplied by the Bassa power station, meets the 50 megawatt target for the two stations and means Gaz due Cameroun's mandate to supply gas to both stations is now met under its contract with ENEO Cameroun.
Average gas production since the 50 megawatts has come online has been 14.5 million cubic feet of gas per day, with a daily peak of 15.3 million, backing Victoria's targets for Gas du Cameroun's full-year production.
Victoria shares were up 6.3% to 88.22 pence on Thursday morning, one of the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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