$6.4m balance of $10.1m Cash Call Received from RSM
Victoria Oil & Gas Plc announces that further to the announcement made on 11 December 2014, the balance of US$6,433,306 of the cash call of US$10.1m has been received from RSM Production Corporation (“RSM”).
This payment relates to the Logbaba Gas Project in Cameroon. Following this payment RSM has now met its share of costs up to 1 February 2014.
RSM is an affiliate of Grynberg Petroleum Company of Denver, Colorado and holds a 40% interest in the Logbaba Gas Project.