Victoria Oil & Gas jumps on Cameroon update

Shares in Victoria Oil & Gas jumped almost 6% early on Monday, as the energy utility developer said its Cameroon-based subsidiary had begun gas distributions.

In a statement released on Monday, the London-listed group said Gaz du Cameroun S.A had completed connections and was supplying natural gas to three new industrial customers from its gas pipeline network in Douala.

The new customers included New Foods, a food processing business owned by major conglomerate the Fokou Group, and Société Industrielle Camerounaise des Cacaos S.A.

The group said it estimates daily consumption from the three new connections to total 0.7m standard cubic feet.

Victoria Oil & Gas shares were up 4.83% to 70.50p at 08:45 on Monday.