VOG Encounters 300 Ft. Net Pay at Logbaba Project

Victoria Oil & Gas (VOG) has provided an update on its Logbaba gas and condensate project in Douala, Cameroon.

Well La-105 reached a total depth of 8,920 feet on January 1, 2010 and the well is currently being logged prior to its completion as a development well. Multiple gas-bearing sands were encountered at virgin pressures at depths between 6,017 feet and 8,330 feet, which can be correlated to those found and tested in the nearby well La-103. Well La-103 flowed at rates from 5 to 12 million cubic feet of gas per day from individual sands when drilled in 1956.

The data obtained while drilling showed in excess of 300 feet of gross pay and also indicated the presence of over-pressured shale gas in a significant interval. After logging, a 7-inch liner will be run to isolate the sands for future testing and production. Further detailed information on La-105 and drilling of the next well at Logbaba, La-106, will be announced in due course.

VOG Chairman Kevin Foo said, "We are pleased that Well LA-105 has now reached total depth and encountered over 300 feet of gross pay. Notably, the presence of gas in the shale could add upside to previous management interpretations. We will provide further detailed information to the market once the well logs have been completed."