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Bonaberi Gas Connections Complete and Customers Online, Cameroon

8 Dec 2014

Victoria Oil & Gas Plc, the Cameroon energy utility, today announces that the first 3 thermal gas connections have been completed on the Bonaberi shore of the port-city of Douala, Cameroon and two customers are online. The pipeline and PRMS unit to the third customer has been completed and commissioned. The connections have been completed by VOG’s wholly owned subsidiary Gaz du Cameroun (“GDC”) within 5 weeks of the gas supply network being extended under the Wouri River to the Bonaberi shore.  

The customers in Bonaberi are located close to the Wouri River crossing and have been linked to the main gas line via 3.5km of pipe that was laid during the main river crossing activities. The Bonaberi customers are all businesses involved in food production and will use gas for thermal purposes. The customers are; Sopriacam, a cooking oil and soap refinery, New Foods, a biscuit manufacturer and Sasel, a salt manufacturer.

In addition to the Bonaberi customers, SOTEX, a textile manufacturer, has been connected to the Douala city network and gas supply has also commenced.

All 4 customers were previously using Heavy Fuel Oil (“HFO”) for boilers driving mechanical plant and processes. The GDC marketing and engineering teams worked with the senior management of these businesses to demonstrate the cost savings expected to occur following conversion to gas from HFO and then implemented individual engineering solutions that ensured an efficient conversion.

A production update will be made once new gas supply to Bonaberi can be measured over a reasonable time on an averaged basis.

Commenting today Kevin Foo, Chairman, said: “These first gas connections in Bonaberi, whilst relatively small in volume are an important milestone for GDC as the network expansion under the Wouri River now becomes a reality. Bonaberi is an important new market for our gas and we shall be updating the market on our production rates in due course. Despite the recent decline in the oil price, our gas remains the most economic and cleanest energy solution to industry in Douala.”

For further information, please visit www.victoriaoilandgas.com or contact:

Victoria Oil & Gas Plc

Kevin Foo/Laurence Read Tel: +44 (0) 20 7921 8820

Numis Securities

John Prior/Ben Stoop Tel: +44 (0) 207 260 1000

Strand Hanson Limited

Angela Hallett / Stuart Faulkner Tel: +44 (0) 20 7409 3494

Tavistock Communications

Ed Portman / Simon Hudson Tel: +44 (0) 20 7920 3150