VOG completes pipeline and confirms equity placing

Victoria Oil & Gas announces completion of the second phase of the pipeline to central Douala and also an equity placing of £3.15 million (the 'Placing').

VOG confirms that in Douala, a total of 13.2km of pipeline has been installed and commissioned, providing the Company with access to more than 20 large industrial energy consumers.

The Company anticipates sales of ca. 1 million standard cubic feet per day ('mmscf/d') from July 2012, steadily increasing to 8mmscf/d by the end of 2012

The funds raised through the Placing and the Loan are to be utilised as a bridge to positive cashflow, long-term debt funding of production operations in Cameroon, to accelerate the customer conversion process and allow for increased operational flexibility during the build-out phase of the Logbaba Project.

At 8:14am:

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