08 January 2015

Victoria Oil & Gas Plc

("VOG" or "the Company")

$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.

For further information, please visit www.victoriaoilandgas.com or contact:

Victoria Oil & Gas Plc

Kevin Foo/Laurence Read Tel: +44 (0) 20 7921 8820

Numis Securities

John Prior/Ben Stoop Tel: +44 (0) 207 260 1000 

Strand Hanson Limited

Angela Hallett / Stuart Faulkner Tel: +44 (0) 20 7409 3494

Tavistock Communications

Ed Portman / Simon Hudson Tel: +44 (0) 20 7920 3150

Notes to Editors

Victoria Oil & Gas (VOG.L) is an energy utility business and hydrocarbon producer with energy supply operations in the industrial port city of Douala in Cameroon.

The Company's wholly owned operating subsidiary, Gaz du Cameroun S.A. (GDC), supplies cost effective, clean and reliable energy products to major industries in the Douala region. Industrial customers are primarily supplied with gas through an extensive pipeline network built by GDC in the City of Douala. GDC products currently include thermal gas, condensate and gas for gas-fired electricity generation. GDC gas is attractive to customers due to its reliability, price competitiveness, low hydrocarbon emissions (compared to Heavy Fuel Oil) and adaptability to meet varied power requirement needs.

VOG also holds 100% of the West Medvezhye oil and gas project near Nadym, Russia. The field has C1 plus C2 reserves of 14.4mmboe (under the Russian resource classification system, analogous to proven and probable reserves under Western conventions) in addition to best estimate prospective resources of 1.4bboe.

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