UPDATE 1-Victoria Oil raises 9.2 mln stg for Cameroon plant

(Refiles to fix typo in fifth bullet point)

* Places 368 mln shares at 2.5p each

* Issue price at 9 pct discount to Tuesday's close

* Says funds to help complete gas plant facilities

* Sees selling 10 mmcf gas per day by mid 2011

* Shares fall 2.9 pct (Adds details)

Sept 1 (Reuters) - Victoria Oil & Gas Plc (VOG.L) said it raised 9.2 million pounds ($14.1 million) through a share placing to complete all gas plant facilities and the pipeline to deliver first gas production at Logbaba in Cameroon.

The company, which is involved in exploration projects in Africa, Russia and Kazakhstan, said it placed 368 million shares at 2.5 pence each, which was at a discount of 9 percent to their Tuesday's close.

The AIM-listed company said the placing would be executed over two tranches and it expected the first tranche to start trading on Sept. 7.

Victoria Oil, which is the only onshore gas producer in Cameroon, recently said it was on track for December gas delivery from its Logbaba gas project in that country and had signed gas sales pacts for 20 years. [ID:nSGE67H09X]

The company said it expected to sell 10 million cubic feet of gas per day by mid 2011, generating gross gas sales revenue of more than $1 million per week.

It was confident of boosting sales to over 100 million cubic feet per day within five years, Victoria Oil added.

The company's shares were down 2.9 percent at 2.66 pence at 1035 GMT on the London Stock Exchange. ($1=.6519 Pound) (Reporting by Debasmita Ghosh in Bangalore; Editing by Gopakumar Warrier)