UPDATE 1-Victoria Oil seeks 6-mnth Logbaba licence extension
* Requests 6-month extension to Logbaba licence
* Expects drilling at Logbaba to start late in first half
* Shares rise 7.2 percent
LONDON, Feb 10 (Reuters) - Exploration company Victoria Oil & Gas Plc (VOG.L) said on Tuesday it requested a six month extension to its exploration licence at Logbaba, Cameroon which is due to expire on Feb. 19.
The AIM-listed company expects mobilisation of a drill rig from Algeria within three months and drilling to start late in the first half.
"The Logbaba gas and condensate project is proving to be an excellent acquisition and our focus now is to get this field producing gas," said chairman Kevin Foo.
"The downturn in oil and gas prices has created a very competitive environment for drill rigs and services and we intend to secure a rig this month."
At 0836 GMT, shares in the company were up 7.2 percent at 3.758 pence.
Victoria has appointed Radwan Hadi, an engineer with over 25 years experience in the oil and gas industry, as chief operating officer of the company and project manager of Logbaba.
(Reporting by Julie Crust)
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