Cameroon: Logbaba

Victoria’s key asset is a farm-in for 60% of the Logbaba natural gas and condensate project in Cameroon. Logbaba is located in the northern Douala Basin within the eastern suburbs of Douala, the economic capital of Cameroon. Four wells were drilled in the 1950s, all encountering gas – three were tested at between 12Mmcf/d and 62Mmcf/d.

Logbaba Map Area
To see a larger view of this map click here


RPS Energy undertook an evaluation of the Logbaba field in July 2008. Using the data provided, they determined 14Mmboe of 2P reserves with an NPV10 valuation of $169Mm. Their evaluation only encompassed less than ten per cent of the total 65km2 licence area.

RSP Energy Competent Person’s Report
    Net Attributable Reserves and Resources
    1P 2P 3P
Total Liquids Mmbbl 0.28 2.35 4.51
Natural Gas Bcf 7.92 64.53 123.91
Total Mmboe 1.71 13.97 26.81
NPV valuation at 10%

$Mm

18.17 168.65 412.16

Logbaba Development Plan 2009
 

PHASE 1:

  • Gas production to serve existing contracts
  • Drill and test a twin to Well 104 down to 10,000 ft
  • Production expected to be min. 12Mmcf/d against current
    local industrial demand of 8Mmcf/d
  • Install surface facilities
  • 12Mmcf/d capacity gas processing facility
  • 15 km, 10” pipeline to the industrial users
  • Sell gas to industrial market in Douala
  • Letters of intent already signed with potential customers
    for a total of 8Mmcf/d at an indicative price of $15/mcf
Logbaba
 

PHASE 2:

  • Gas to additional clients and swing production
  • Drill second well to increase production to meet expected industrial demand of >25Mmcf/d
  • Provide swing production for users and new consumers