Oil and gas Plant

Yaounde, Cameroon Africa(Cameroon News) – - After they secured the Exploitation License that they had been long waiting for, Victoria Oil & Gas is all set to kick off production to bring out their first gas by Q4. <!–dsensestart?

Shares in Victoria Oil & Gas were at its prime at the close of last week, increasing towards six pence a share, when the AIM-quoted company made a formal revelation about having secured the long awaited exploitation license for the Logbaba gas-condensate field in Cameroon. This gets the company all set for first gas in Q4 2011.

The license came up after a major time span, the first of its kind to be issued in Cameroon, had left for Victoria and its shareholders quite jittery towards the end. When the company first took over the Logbaba asset in the latter half of 2008, to expand its portfolio after having faced certain hurdles in the FSU, there were little hopes of first commercial sales by late 2009. However in the recent past, the motive was to get the field up and going in 2010.