StockMarketWire.com - Victoria Oil & Gas has extended the current gas supply agreement with ENEO Cameroon S.A., the Cameroon energy joint venture between UK Group Actis and the Cameroon Government, until 31 December 2017.

The extension would enable ENEO and the company's 100% owned subsidiary, Gaz du Cameroun S.A. (GDC) to optimise all technical and financial elements of a long-term gas supply arrangement aimed at increasing the current contractual power supply of 50MW to beyond 100MW.

The take-or-pay components will remain in place and, until year end, an interim gas price of $7.50/mmbtu has been agreed.

The drilling of the two new wells at Logbaba continued. The company would provide the market with an update on drilling progress shortly.




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