StockMarketWire.com - Victoria Oil & Gas has provided an update on its operations for the three-month period ended 30 September 2016.

HIGHLIGHTS:

- 7.14mmscf/d Q3 2016 average gas production (Q3 2015: 8.19 mmscf/d)

- 12% decrease in gross Logbaba gas sales of 630mmscf (Q3 2015: 718mmscf)

- Q3 unaudited financial highlights: $4.7 million revenue (Q2 2016: $10.8 million); $14.1 million cash position at quarter end (Q2 2016: $14.1 million); $2.3 million net cash position at quarter end (Q2 2016: $1.9 million)

- Logbaba drilling programme: Rig in final stages of commissioning and testing getting ready for spudding

- 7.13km pipeline commissioned during the quarter as part of the Bonaberi expansion

- Resolution of dispute over reserve bonus and extinguishing 1.2% royalty






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