VOG to Drill La-106 Well at Logbaba Gas Project in Feb.

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

Open-hole logs have been run at Well La-105 and the well has been cased with a 7-inch production liner between 5,950 and 8,750 feet, measured depths. The logs have indicated the presence of at least 65 feet of very good quality gas-bearing sandstone reservoir plus at least an additional 260 feet of gas-bearing sands that may prove to be productive when tested.

La-105 is now being completed as a production well. Immediately following the La-105 completion the rig will be moved about eight meters to the adjacent surface location on the Logbaba drilling pad and the La-106 appraisal/development well will be spudded. La-105 will be flow tested during the La-106 drilling operations.

La-106 is to spud in early February. It will be deviated to target the productive sands of the Logbaba formation, twinning La-101.

Well La-101, the first Logbaba exploration well, blew out when drilled in 1955 by Elf SEREPCA when it encountered the overpressured gas sands of the Logbaba formation. During the blowout the well produced an estimated 0.9 billion cubic feet of natural gas over 38 days before being brought under control.

Kevin Foo, Chairman of Victoria, said today, "Well La-105 continues to provide excellent results. The logs show us that the well will be able to produce more than sufficient gas to meet the demands of the local industrial customers that we have signed up. With La-106 spudding in a matter of weeks, the project is getting closer to first gas sales."