- Victoria Oil and Gas subsidiary Gaz du Cameroun (GDC) has agreed a USD26m debt facility to support its production expansion at Logbaba through 2016 and 2017.

The facility has been secured with BGFIBank Cameroon (BGFIBank). VOG aims to avoid recourse to equity markets, whilst ensuring gearing is restricted to appropriate levels as the Company continues to build value.

During 2016 VOG intends to increase gas production from the Logbaba Project by 30%, following the 107% increase in average daily production achieved in calendar year 2015.

Story provided by