Victoria Oil and Gas raises US$7.5m for Matanda drilling in Cameroon

CAMEROON – Victoria Oil & Gas, the Cameroon-based gas and condensate producer and distributor, has entered into a definitive financing agreement with Meridian Capital to raise maximum gross proceeds of US$7.5mn through the issue of unsecured loan notes. The proceeds of the facility will be utilised for general working capital purposes, including long lead items for the proposed well on the Matanda licence. “The use of such funds includes helping us progress our very prospective Matanda licence in which we have a 75% interest prior to state back-in,” Roy Kelly,…

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