STOCKS NEWS UK-Victoria Oil up on gas sands find in Cameroon

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10:15GMT 16Nov2009-Victoria Oil up on gas sands find in Cameroon

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Shares in Victoria Oil & Gas (VOG.L) rise as much as 12.8 percent after the oil and gas explorer finds gas sands at its Logbaba project in Cameroon, a discovery that will enable it to apply for a 35-year exploitation and production licence.

"Things are looking good and on the right track," says broker Fox-Davies Capital, which has "buy" rating and 7 pence price target on the stock.