Victoria Oil & Gas, whose wholly owned subsidiary, Gaz du Cameroun ('GDC') is the onshore gas producer and distributor with operations located in the port city of Douala, Cameroon, has provided shareholders with a brief operations update for the second quarter of 2021.
- Sales : Average daily gross gas sales rate for the quarter of 5.4 MMscf/d (Q1 21: 5.2 MMscf/d) of natural gas, plus gross 4,468 bbls (Q1 21: 5,357 bbls) condensate was shipped to customers.
- La-108 Performance : The well produced a cumulative 0.467 Bcf before it was shut-in to allow us to perform a pressure build up ("PBU"). The other wells are able to satisfy current demand.
- Matanda : Well planning continues and tendering for long lead items and key equipment and services has commenced.
Roy Kelly, Chief Executive of Victoria Oil & Gas, commented :
'We are very pleased that the team has delivered another solid quarter during which some customers increased organic demand, although we are conscious that we are now heading into August which is usually a slower month. Operationally, I am delighted to report that in June GDC passed one million man-hours without a single Lost Time Incident, a credit to all the staff and contractors.
We are considering adding perforations to well La-108, more than doubling the net pay, and this is being discussed with partners. Such is the depth and pressure difference between the top and bottom of the reservoir that perforating must be done in two stages. Adding perforations could increase the well's productivity, reduce the overall water cut and of course allow us to access all of the well's connected gas volumes.
We look forward to updating shareholders in due course on our various workstreams.'
Source: Victoria Oil & Gas