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Friday, July 22, 2022
Victoria Oil & Gas Plc in its Q2 2022 Operational & Corporate Update states its gas sales from Cameroon saw an increase over Q2. Average daily gross gas sales rate for the quarter was 5.6 MMscf/d (up 2% on Q1 22: 5.5 MMscf/d), and a gross volume of 4,243 bbls (Q1 22: 4,691 bbls) condensate was shipped to customers.
There were some very high daily sales in the quarter, with intra-day, instantaneous peaks occasionally reaching approximately 8.0 MMscf/d. The Logbaba field has now produced a cumulative of approximately 21.8 Bcf of natural gas, and GDC continues to use two of the three wells at any time.
The company also reports that for its Matanda holding, Rig contract negotiations continue and the mobilization of a rig to Douala is expected to be complete by end July, this being at the owner’s own cost and risk. Site and access preparations will be somewhat hindered by the rainy season at this time of the year.
Roy Kelly, Chief Executive of Victoria Oil & Gas, commented: “Demonstrating that it really is business as usual in Cameroon, we are very pleased to report that GDC achieved a third consecutive quarter of gas sales growth, with this growth being largely organic.”
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