StockMarketWire.com - Oil company Victoria Oil & Gas said subsidiary Gaz du Cameroun had received approval from Cameroon's mining minister for an extension of the Matanda block licence there.

The exploration phase of the licence had been extended by one year from 17 December 2020.

'We are extremely pleased to have received this extension for one year,' chief executive Roy Kelly said.

'The first well will undoubtedly be in the onshore area where nearby wells in the Bomono license have derisked the shallower plays, and proximity to the GDC-operated gas distribution infrastructure allows easier monetisation of discoveries.'


At 9:41am: [LON:VOG] Victoria Oil Gas PLC share price was 0p at 6.4p



Story provided by StockMarketWire.com