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Glossary of Terms

AGM
Annual General Meeting
AIM
Alternative Investment Market, a sub-market of the London Stock Exchange
Altaaqa
Altaaqa Alternative Solutions Projects DWC-LLC, equipment partner and genset supplier
API gravity
American Petroleum Institute gravity is a measure of how heavy or light a petroleum is compared to water
bbl(s)
Barrel(s), or 42 US gallons
bcf
Billion cubic feet; 1 bcf = 0.83 million tonnes of oil equivalent
BGFI
BGFIBank an African bank with operations in Cameroon
boe
Barrels of oil equivalent
CEO
Chief Executive Officer
CHL
Cameroon Holdings Limited of which the Company owns a 35% interest
CNG
Compressed Natural Gas
E&P
Exploration and production
EBITDA
Earnings before interest, taxes, depreciation and amortisation
ENEO
ENEO Cameroon
ESOP
Employee Share Ownership Plan
GDC
Gaz du Cameroun S.A.
Gensets
Electricity generation sets
HFO
Heavy Fuel Oil
IFRS
International Financial Reporting Standards
IFRS
International Financial Reporting Standards
KPI
Key Performance Indicators
LTIFR
Lost time incidents frequency rate
mmbbls
Million barrels
mmboe
Million barrels of oil equivalent
mmbtu
Million British thermal units
mmscf/d
Million standard cubic feet per day
MMTPA
Million metric tonne per annum
Numis
Numis Securities Limited a leading UK independent institutional stockbroker
Petroleum Costs
Defined term in Concession Contract, includes exploration, development, exploitation, construction and general overhead costs
Possible or 3P
Reserves which at present cannot be regarded as ‘probable’ but are estimated to have a significant but less than 50% chance of being technically and economically producible
PRMS
Pressure Reducing Metering System
Probable or 2P
Reserves which are not yet proven but which are estimated to have a better than 50% chance of being technically and economically producible
Prospect
A potential accumulation that is sufficiently well defined to represent a viable drilling target
Proven, Proved or 1P
Reserves which on the available evidence are virtually certain to be technically and economically producible. For the purpose of this definition it has a better than 90% chance of being produced
RSM
RSM Productions Corporation
Tcf
Trillion cubic feet
the Code
UK Corporate Governance Code September 2015
the Company
Victoria Oil & Gas Plc
the Group
Victoria Oil & Gas Plc and its subsidiaries
VOG
Victoria Oil & Gas Plc
West Medvezhye
Our 100%-owned West Medvezhye field
XAF
Central African Francs currency