Victoria Oil and Gas now in a cash positive position

Oil and gas exploration company Victoria Oil and Gas (LON:VOG) says it’s now in a cash positive position after installing gas-fired power generation units ‘gensets’ at four customer sites in Cameroon.

Chairman Kevin Foo says the gas-to-power market in Douala is ‘huge’ due to a massive shortfall in supply. The company is “well cashed up”, preserving cash for future pipeline expansion and the drilling of more wells in June 2015.

Foo says the company intends to be self funding from next year.