Victoria Oil & Gas Plc, the AIM quoted oil and gas exploration and production company with assets in Cameroon and the FSU, is pleased to announce the appointment of Neil Kendrick to the management of VOG as Director of Projects with effect from 1st June 2012.
Neil has held several senior management and executive level positions over the past 25 years with both publicly and privately held companies in the oil and gas sector. His most recent role was as a Project Manager for The Expro Group where he was responsible for the on time supply, installation and commissioning of the Logbaba Plant last year.
Neil gained an honours degree in Mechanical Engineering from Brunel University. He is both a professionally qualified Engineer and Project Manager.
Kevin Foo, Chairman of VOG said:
"We are delighted to welcome Neil to the VOG team. He has a proven track record of bringing projects to fruition and delivering results in demanding environments. We know Neil exceptionally well from his previous role and we are confident that his experience and leadership qualities will ensure we are successful in the implementation of our objectives. In particular, Neil’s first priority will be to help us build out our thermal and power business in Logbaba, Cameroon.”
For further information, please contact:
Victoria Oil & Gas Plc - Tel: +44 (0) 20 7921 8820
Kevin Foo / Martin Devine
Macquarie Capital (Europe) Limited Tel: +44 (0) 20 3037 2000
Jeffrey Auld / Steve Baldwin / Nicholas Harland
Fox-Davies Capital - Tel: +44 (0) 20 3463 5010
Daniel Fox-Davies/ Richard Hail
Strand Hanson Limited - Tel: +44 (0) 20 7409 3494
Simon Raggett / Angela Peace
Tavistock Communications - Tel: +44 (0) 20 7920 3150
Ed Portman/ Paul Youens
Background Information on Victoria Oil & Gas Plc:
Victoria Oil & Gas Plc is an independent oil and gas exploration and production company with projects in Africa and the FSU. The Company's principal assets are the Logbaba gas and condensate project in Cameroon and the West Medvezhye project in Siberia, Russia. Logbaba is located in Douala, the economic capital of Cameroon. The field was discovered in the 1950s when all four exploration wells drilled at the time encountered gas. The Company drilled two successful development wells in 2009/10 and was awarded an Exploitation Licence in April 2011.
The Company’s Logbaba proved and probable reserves are sufficient to supply an average of 30mmscf/d for the next 20 years to industrial customers. Under current management projections, the Company forecasts industrial gas demand to rise to 44mmscf/d by the end of 2014. In the longer term, as further reserves may be proven, gas may also be supplied to large gas fired power stations connected to the grid, with either VOG investing in an independent power producer joint venture or selling the gas to third parties. The Company has signed a multitude of gas sales agreements with industrial customers to serve their energy requirements and anticipates in excess of 40 customers over the medium term.
West Medvezhye is situated in the prolific Yamal-Nenetsk hydrocarbon region in Siberia. An independent audit, carried out by Mineral LLC in 2011, estimated prospective resources for the area of over 1.4 billion barrels of oil equivalent. The Company also has a discovery well, 103, with C1 and C2 reserves, independently assessed under the Russian classification convention of 14.4 million boe as approved by the Russian Ministry of Natural Resources.
Development studies are in progress to commercialise the Well-103 discovery and prospective resources and a detailed well design study for the upcoming drilling campaign has commenced.
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