{"id":9471,"date":"2020-11-24T11:29:28","date_gmt":"2020-11-24T11:29:28","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=9471"},"modified":"2020-11-24T11:30:17","modified_gmt":"2020-11-24T11:30:17","slug":"victoria-oil-gas-awarded-matanda-licence-extension","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/victoria-oil-gas-awarded-matanda-licence-extension\/","title":{"rendered":"CAMEROON: Victoria Oil & Gas Awarded Matanda Licence Extension"},"content":{"rendered":"

Victoria Oil & Gas Plc, has announced that its wholly owned subsidiary Gaz du Cameroun S.A. (“GDC”) has received, as operator, approval from the Minister of Mines, Industry and Technological Development for the extension of the Matanda Block licence.<\/span>\u00a0<\/span><\/p>\n

The exploration phase of the licence has been extended by one year from 17 December 2020. This has been approved by the Minister and a Presidential Decree will follow in accordance with the regulations in due course.<\/span>\u00a0<\/span><\/p>\n

GDC was assigned 75% ownership and became operator of the Matanda PSC in December 2018 with Afex Global Limited (“AFEX”) holding the remaining 25%.\u00a0 Soci\u00e9t\u00e9 Nationale Des Hydrocarbures (“SNH”) has a 25% back in right after an Exploitation License is granted. \u00a0The 1,235 square kilometre block Matanda Block is adjacent to GDC’s Logbaba concession, offering an easy monetisation route for gas discoveries.\u00a0<\/span>\u00a0<\/span><\/p>\n

The project has progressed well in the first two years of GDC’s involvement, and notably in July 2020 the Company was pleased to report a material increase in management’s estimate of Prospective Resources, onshore Matanda.\u00a0 Gross unrisked, mean Prospective Resources increased to 1,196 Bcf in the Matanda Licence (onshore) from the previously reported 903 Bcf (ERCL Consultants Evaluation: ‘Prospectivity and Volumetrics Report, Matanda Block, Cameroon’, 2017).\u00a0<\/span>\u00a0<\/span><\/p>\n

This increase was the result of a detailed internal prospect evaluation which identified 19 gas prospects in shallower Tertiary-aged reservoirs, plus 7 prospects in deeper, Cretaceous-aged prospects.\u00a0 The Company believes the larger of these prospects has mean unrisked, Prospective Resources of over 65 Bcf, with geological Chance of Success estimated at better than 40%.\u00a0<\/span>\u00a0<\/span><\/p>\n

This year, the Company has been carrying out the all-important Environmental and Social Impact Assessment (“ESIA”), an exercise which included engagement with local communities, and one that also demonstrated that we can access all areas of the licence, noting that the license is not densely populated and consists mainly of plantations and mangrove forests.\u00a0 This ESIA is scheduled for completion in Q1 2021 and will ensure that all aspects of risks to the environment and social factors will have been assessed and necessary precautions taken, in accordance with the requisite rules and regulations, to guarantee minimal impact on the environment ahead of drilling preparation. The work programme requires the drilling of an exploration well and the company will shortly be finalising the ranking of the significant onshore prospects.<\/span>\u00a0<\/span><\/p>\n

Commenting today Roy Kelly, CEO of VOG, said\u00a0:<\/p>\n

“We are extremely pleased to have received this extension for one year. The first well will undoubtedly be in the onshore area where nearby wells in the Bomono license have derisked the shallower plays, and proximity to the GDC-operated gas distribution infrastructure allows easier monetisation of discoveries.\u00a0 We are further encouraged by the ESIA that will soon be completed.\u00a0 We thank the Minister and also SNH for expediting this extension.”<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Victoria Oil & Gas Plc, has announced that its wholly owned subsidiary Gaz du Cameroun S.A. (“GDC”) has received, as operator, approval from the Minister of Mines, Industry and Technological … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":9408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7447,7442,11],"tags":[8695,387,4581,8650,8697,8693,8696,8694],"class_list":["post-9471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-central-africa","category-countries","category-top-news","tag-afex-global-limited","tag-cameroon","tag-esia","tag-gaz-du-cameroun-s-a","tag-logbaba-concession","tag-matanda-block","tag-societe-nationale-des-hydrocarbures","tag-victoria-oil-gas-plc","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2sL","jetpack-related-posts":[{"id":11462,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-receives-one-year-extension-of-the-matanda-block-licence\/","url_meta":{"origin":9471,"position":0},"title":"CAMEROON: Victoria Oil & Gas Receives One Year Extension of the Matanda Block licence","author":"","date":"December 24, 2021","format":false,"excerpt":"Victoria Oil & Gas has announced that its wholly owned subsidiary Gaz du Cameroun S.A. has received, as operator, approval from the Minister of Mines, Industry and Technological Development for the extension of the Matanda Block licence. The exploration phase of the licence has been extended by one year from\u00a017\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":9783,"url":"https:\/\/www.oilnewskenya.com\/index.php\/victoria-oil-gas-provides-q4-2020-operational-update\/","url_meta":{"origin":9471,"position":1},"title":"CAMEROON: Victoria Oil & Gas Provides Q4 2020 Operational Update","author":"","date":"January 29, 2021","format":false,"excerpt":"SUMMARY\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0The Company remains vigilant in relation to the Covid-19 pandemic and adherent to the authorities' guidelines in the jurisdictions in which it works: the lockdown in\u00a0Cameroon\u00a0was eased in\u00a0May 2020 and we can conduct operations and projects pretty much as normal, but a restrictive lockdown persists in the YaNAO region\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":10462,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victorial-oil-gas-raises-us7-5-million-for-the-proposed-well-on-the-matanda-licence\/","url_meta":{"origin":9471,"position":2},"title":"CAMEROON: Victorial Oil & Gas Raises US$7.5 million for the Proposed Well on the Matanda licence","author":"","date":"June 21, 2021","format":false,"excerpt":"Victoria Oil & Gas Plc, whose wholly owned subsidiary, Gaz du Cameroun S.A. (\"GDC\"), the onshore gas producer and distributor with operations located in the port city of Douala, Cameroon, has announced that it has entered into a definitive financing agreement with Meridian Capital (HK) Limited\u00a0 to raise maximum gross\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8674,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-provides-q2-2020-operational-update\/","url_meta":{"origin":9471,"position":3},"title":"CAMEROON: Victoria Oil & Gas Provides Q2 2020 Operational Update","author":"","date":"July 27, 2020","format":false,"excerpt":"\u00a0\u00b7\u00a0\u00a0\u00a0\u00a0The Company remains vigilant in relation to the Covid-19 pandemic and adherent to the authorities' guidelines in the jurisdictions in which it works: the lockdown in Cameroon was eased in May 2020, but a restrictive lockdown persists in the YaNAO region of the FSU where our West Medvezhye asset is\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Victoria-Oil-Gas-Plc.png?fit=235%2C215&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10153,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-victoria-oil-gas-provides-matanda-logbaba-update\/","url_meta":{"origin":9471,"position":4},"title":"CAMEROON: Victoria Oil & Gas Provides Matanda, Logbaba Update","author":"","date":"April 1, 2021","format":false,"excerpt":"\u00b7\u00a0\u00a0\u00a0\u00a0Matanda.\u00a0\u00a0Well planning, procurement of long lead items and rig selection are underway, and the farmout process has been started with several parties registering interest. The Environmental and Social Impact Assessment (ESIA) has been delivered for the Ministry's consideration.\u00a0 Follow up meetings have been held with the Ministry of Environment\u00a0to plan\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Cameroon-Logbaba.jpg?fit=663%2C422&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":10390,"url":"https:\/\/www.oilnewskenya.com\/index.php\/victoria-oil-gas-plc-provides-corporate-update\/","url_meta":{"origin":9471,"position":5},"title":"Victoria Oil & Gas Plc Provides Corporate Update","author":"","date":"June 7, 2021","format":false,"excerpt":"Highlights \u00b7\u00a0\u00a0\u00a0\u00a0GDC has received\u00a0US$5.1 million\u00a0gross funds from Eneo in line with the final settlement agreement of\u00a016 April 2021;\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Having reached the end of the exclusivity period with a potential buyer of\u00a0ZAO SeverGas-Invest (SGI), the Company's fully owned subsidiary which owns the West Medvezhye (\"West Med\") asset, discussions continue on the\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=9471"}],"version-history":[{"count":2,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9471\/revisions"}],"predecessor-version":[{"id":9473,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/9471\/revisions\/9473"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/9408"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=9471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=9471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=9471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}