January 6, 2010 / 11:07 AM / in 9 years

STOCKS NEWS EUROPE-Victoria Oil up; Cameroon well gas find

Shares in Victoria Oil & Gas Plc (VOG.L) rise as much as 15 percent after the explorer says it has found 300 feet of gross gas pay at a well at its Logbaba project in Cameroon.

The result is “a very positive sign”, says Lionel Therond at Fox-Davies Capital.

“They are likely to discover extra additional reservoirs compared to what they did in the 60s, which might mean additional reserves possibly and more development options for the fields,” adds Therond.

To see Victoria Oil’s statement please click on [ID:nRSF0884Fa]

Reuters messaging rm://shivani.singh.thomsonreuters.com@reuters.net

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