Victoria's Logbaba hopes on the rise

VICTORIA OIL & GAS believes new seismic work has flagged up the potential for a "major hydrocarbon discovery" at the Logbaba project in Cameroon.
In a release, it said the latest seismic data from the project indicates major potential for a find just two kilometres from the current drilling location, which are "substantially larger" than the existing discovery.
Victoria added the lead had not been detected before because of a lack of geophysical data.
Chairman Kevin Foo described the data as "very significant" for both the company and Logbaba.
"The results suggest that a large and unexplored accumulation lies just a few kilometres away from the original discovery. This would be a considerable addition to our reserve base if its ultimately confirmed by drilling," he added.
Victoria said the survey findings confirmed its geological understanding of the Logbaba reservoir sands and correlate well with data from the four old wells and the newly-drilled La-105 well, the group said.
The survey suggested that the most prospective area at the existing discovery is about 300 metres from well La-104.
The well design team are considering this data and its impact on the design of the next well in the series, La-106.

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