Victoria Oil & Gas Plc provided operational update for the first quarter of 2022. The Logbaba field has been meeting the demand using two of the three wells at any one time, with Well La-108 alternating with Well La-107. Matanda: Following the rig tendering exercise, a suitable rig has been identified in nearby Chad, and this rig would be capable of drilling deeper Cretaceous targets as well as the shallower Tertiary targets.

As the rig is currently idle, the rig owner will mobilise the rig to Cameroon whilst contract negotiations continue. The Logbaba field has now produced a cumulative of over 21 Bcf of natural gas, having passed the 20 Bcf milestone in July 2021. Well La-108 reached a cumulative of 1 Bcf gas production in the period, worth approximately USD 12 million in gas sales.