17th Apr 2020 14:25
(Alliance News) - Victoria Oil & Gas PLC on Friday said a number of expatriate crew were evacuated from Cameroon due to the Covid-19 lockdown, and the company will now await the return of the expatriate members of the rig crew to continue the remediation work on La-108 well.
The company, which has gas producing operations in Douala, Cameroon, also on Friday corrected its early report of condensate production, to 1,343 barrels for the quarter to March-end. Gas production amounted to 5.1 million standard cubic feet per day.
Gaz du Cameroun SA, a unit of Victoria Oil, generated net revenue was USD5.3 million in the quarter from the sale of gas and condensate.
Victoria Oil said the impact of Covid-19 pandemic has not been material so far, but it remains highly vigilant. The company continues to operate its wells, processing plant and pipeline in Cameroon without disruption.
Shares in Victoria Oil were up 11% at 4.04 pence each in London on Friday afternoon.
By Tapan Panchal; [email protected]
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