VOG continued progress on the execution of its gas strategy in Cameroon. Since the Company's last update on 21 December 2012, a further four customers have been commissioned and have commenced gas consumption. In total, the Company now has 15 contracted customers taking gas and there remain a further 10 contracted customers that await conversion of their facilities to take gas. This is an increase from six customers taking gas in November 2012.

All 25 contracts have been executed at an energy price of US$16 per million British thermal units fixed for five years for thermal use. This contract price represents a significant discount compared to alternative liquid fuels used to raise heat in industrial boilers or furnaces for the companies' process requirements.

Tags: Victoria Oil & Gas Plc