BML Balmoral Intl

    RNS Number : 9237D
  Victoria Oil & Gas PLC
  22 September 2008
   



    Victoria Oil & Gas Plc
    ("VOG" or the "Company")

    Loan Facility to Bramlin Ltd


    The Board of Victoria Oil & Gas Plc (AIM: VOG), the AIM-quoted oil and gas exploration company, announces that it has entered into an
agreement to provide a US$5 million loan facility ("Facility") to Bramlin Limited ("Bramlin")(AIM: BML).

    In an effort to gain exposure to a broader spectrum of value-enhancing opportunities, the Board of VOG has been reviewing several new
projects outside of the Company's core region of the Former Soviet Union. The Board considers that the provision of this loan to an
established operator in Africa will provide the Company with access to further potential opportunities within this region. 

    The funds provided under the Facility will be used by Bramlin for part payment of sums due on financing of the Logbaba Natural Gas and
Condensate Project in Cameroon, West Africa, with the balance for general working capital purposes. 

    The Facility, which is repayable by 30 June 2009, is secured by a fixed and floating charge over the assets of Bramlin and bears
interest at 1.5 per cent. per month.

    Enquiries:

    Victoria Oil & Gas Plc                                                          Strand Partners Limited
    George Donne / Robert Palmer                                             Simon Raggett /Angela Peace
    +44 (0)20 7921 8820                                                           Tel: +44 (0) 20 7409 3494

    Conduit PR 
    Jonathan Charles/Ed Portman
    Tel: +44 (0) 20 7429 6607
    M: +44 (0)77333 63501

This information is provided by RNS
The company news service from the London Stock Exchange
 
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