VOG

Date: 23 June 2012 Business Summary Sector:

VICTORIA OIL AND GAS PLC

(LONDON STOCK EXCHANGE)

Industry:

Victoria Oil & Gas Plc is engaged in the exploration and development of oil and gas projects in the Former Soviet Union and Africa. The Company has an exploration project in Russia and a development and appraisal project in Cameroon. The Company is also pursuing the reclaim of its title to a producing asset in Kazakhstan. The Companys assets are 60% of the Logbaba gas field in Cameroon, the West Medvezhye gas project in Siberia and the Kemerkol oil field in Kazakhstan. Logbaba is located in the northern Douala Basin within the eastern suburbs of Douala. West Medvezhye is situated in the Yamal-Nenetsk region of Siberia. Kemerkol lies in the Atyrau Oblast of Western Kazakhstan, close to a number of producing oil and gas fields. This deposit of 65 square kilometer licence has oil reserves and resources of C1-8.7 million barrels (Mmbbl), C2-26.3 Mmbbl, C3-25.1 Mmbbl. Share Performance 2.92 Price (pence): Volume (millions): 15.2

Victoria Oil and Gas PLC Hatfield House 1ST FLOOR, 52-54 Stamford Street LONDON SE1 9LX United Kingdom Leena Nagrecha (Secy.) http://www.victoriaoilandgas.com/ P/E: Employees: Market Cap: Shares Outstanding: Float: -48
(Millions)

52 Week High: 52 Week Low:

0.05 0.03

Currency:

GBP

79.69 2,706.72 2,453.84

In co m e 8 -5 - 17 - 30 - 42 - 55 Ma y 0 9 Ma y 1 0 Ma y 1 1
($ Millions)

Ea r n in gs p e r Sh a r e 0 .0 0 .0

Financial Summary BRIEF: For the six month ended 30 November 2010, Victoria Oil & Gas plc's reported no revenues. Net loss decreased 81% to $833K. Revenues reflect that the company is still in development stage. Lower loss reflects a decrease in other losses and lower administrative expenses. The Group is engaged in the exploration and management of oil and gas project. Victoria is an independent oil and gas exploration and production company with projects in Africa and the FSU. Valuation Ratios Price/Earnings Price/Sales Price/Book Price/Cashflow Per Share Data Earnings Sales Book Value (MRI) Cash Flow Cash (MRI) Management Effectiveness Return on Equity (MRI) Return on Assets (MRI) Return on Investment (MRI) Dividend Information Dividend Yield (%) Dividend per Share (MRI) Payout Ratio (MRI)
(%)

- 0 .0 1 - 0 .0 1 - 0 .0 2 - 0 .0 2 Ma y 0 9 Ma y 1 0 Ma y 1 1
($)

--0.87 --

(0.00) 0.00 0.04 (0.00) 0.00

Profitability Ratios Gross Margin Operating Margin Net Profit Margin

(%)

----

(3.68) (2.89) (3.24)

Financial Strength Quick Ratio (MRI) Current Ratio (MRI) LT Debt/Equity (MRI) Total Debt/Equity (MRI)

-0.76 0.01 0.01

-0.00 --

TTM: Trailing Twelve Months; MRQ: Most Recent Quarter; MRI: Most Recent Interim. Latest fiscal year: 2011; Most recent quarter: ; Fiscal year end month: May; All Ratios are calculated for the latest fiscal year end unless otherwise indicated. Data Source: Reuters Fundamentals

VOG

VICTORIA OIL AND GAS PLC

(LONDON STOCK EXCHANGE)

Key Ratios & Statistics

Financial Strength
12 Mo May 09 12 Mo May 10 12 Mo May 11 MRI 3 Year Average

Quick Ratio Current Ratio LT Debt/Equity Total Debt Equity

0 .9 1 0 .7 6 0 .6 1 0 .4 5 0 .3 0 .1 5

0.29 0.30 0.02 0.03

1.41 0.40 0.00 0.02

2.58 0.76 0.01 0.01

-0.76 0.01 0.01

1.43 0.49 0.01 0.02

Financial Strength looks at business risk. The stronger a company is from a financial standpoint, the less risky it is. The Quick Ratio compares cash and short-term investments (investments that could be converted to cash very quickly) to the financial liabilities they expect to incur within a year's time. The Current Ratio compares year-ahead liabilities to cash on hand now plus other inflows (e.g. Accounts Receivable) the company is likely to realize over that same twelve-month period.
Current Ratio Total Current Assets 0.76 11.55 15.18

Cu r r e n t Ra t io

1 2 Mo 1 2 Mo 1 2 Mo Ma y 0 9 Ma y 1 0 Ma y 1 1

MRI

3 Ye a r Av e r a ge

Total Current Liabilities

Quick Ratio: Cash plus Short Term Investments plus Accounts Receivable divided by the Total Current Liabilities for the same period. Current Ratio: Total Current Assets divided by Total Current Liabilities for the same period. Long Term Debt To Total Equity: Total Long Term Debt divided by Total Shareholder Equity. Total Debt to Total Equity: Total Debt divided by Total Shareholder Equity for the same period.

The Long Term Debt/Equity Ratio looks at the company's capital base. A ratio of 1.00 means the company's long-term debt and equity are equal. The Total Debt/Equity Ratio includes long-term debt and short term debt.

Profitability
12 Mo May 09 12 Mo May 10 12 Mo May 11 3 Year Average

Gross Margin (%) Operating Margin (%) Net Profit Margin (%) Interest Coverage

---(71.42)

---(6.85)

---(10.57)

---(29.61)

These ratios realize overall profitability, or the bottom line.

Gross Margin (%) Gross Profit x 100 Revenue -- (%) 0.00 0.00 x 100

Gross Margin: This value measures the percent of revenue left after paying all direct production expenses. It is calculated as Revenue minus the Cost of Goods Sold divided by the Revenue and multiplied by 100. Operating Margin: This value measures the percent of revenues remaining after paying all operating expenses. It is calculated as Operating Income divided by the Total Revenue, multiplied by 100. Net Profit Margin: Also known as Return on Sales, this value is the Income After Taxes divided by Total Revenue for the same period and is expressed as a percentage. Interest Coverage: The Operating Income divided by the company's interest obligations.

Gross Margin shows the amount of revenue left over after deducting direct costs of producing the goods or services. Operating Profit and Operating Margin trace the progress revenue down to another important level. From gross profit, we now subtract indirect costs, often referred to as overhead e.g. facilities and salaries associated with headquarters operations. Finally, Profit Margin shows you how much of each revenue dollar is left after all costs, of any kind, are subtracted. These other costs include such items as interest on corporate debt and income taxes.

TTM: Trailing Twelve Months; MRQ: Most Recent Quarter; MRI: Most Recent Interim. Latest fiscal year: 2011; Most recent quarter: ; Fiscal year end month: May; All Ratios are calculated for the latest fiscal year end unless otherwise indicated. Data Source: Reuters Fundamentals

VOG

VICTORIA OIL AND GAS PLC

(LONDON STOCK EXCHANGE)

Key Ratios & Statistics (cont.)

Management Effectiveness (%)
12 Mo May 09 12 Mo May 10 12 Mo May 11 3 Year Average

Return on Equity % Return on Assets % Return on Investments %

(48.55) (41.88) (44.01)

(6.78) (5.30) (5.93)

(3.68) (2.89) (3.24)

(19.67) (16.69) (17.73)

A company's ability to operate profitably can be measured directly by measuring its return on assets. ROA (Return On Assets) is the ratio of a company's net profit to its total assets, expressed as a percentage.
Return on Assets (%) Income After Taxes Average Total Assets (2.89) (%) (4.70) x 100 162.29

Re t u r n o n As s e t s % 10 -3 - 16 - 29 - 42 - 55 1 2 Mo 1 2 Mo 1 2 Mo Ma y 0 9 Ma y 1 0 Ma y 1 1 3 Ye a r Av e r a ge

x 100

Return On Equity: Income Available to Common Stockholders divided by the Common Equity and expressed as a percentage. Return on Assets: This value is the Income After Taxes divided by the Average Total Assets, expressed as a percentage. Return on Investments: Income after taxes divided by the average total long term debt, other long term liabilities and shareholders equity, and expressed as a percentage.

ROA measures how well a company's management uses its assets to generate profits. It is a better measure of operating efficiency than ROE, which only measures how much profit is generated on the shareholders equity but ignores debt funding. This ratio is particularly relevant for banks which typically have huge assets.

Dividend Information
12 Mo May 09 12 Mo May 10 12 Mo May 11 3 Year Growth 3 Year Average

Payout Ratio (%) Dividend Per Share

(0.00) 0.00

(0.00) 0.00

(0.00) 0.00

--

The annual dividend is the total amount(pence) of dividends you could expect to receive if you held the stock for a year (assuming no change in the company's dividend policy).
Payout Ratio (%) Dividend Per Share Primary EPS (0.00) (%) 0.00 x 100 (0.00)

Dividend Per Share: Common Stock Cash Dividends divided by the shares outstanding. Payout Ratio: This ratio is the percentage of the Primary/Basic Earnings Per Share Excluding Extraordinary Items paid to common stockholders in the form of cash dividends.

x 100

The dividend yield is the indicated annual dividend rate expressed as a percentage of the price of the stock, and could be compared to the coupon yield on a bond. The Payout Ratio tells you what percent of the company's earnings have been given to shareholders as cash dividends. A low payout ratio indicates that company has chosen to reinvest most of the profits back into the business.

TTM: Trailing Twelve Months; MRQ: Most Recent Quarter; MRI: Most Recent Interim. Latest fiscal year: 2011; Most recent quarter: ; Fiscal year end month: May; All Ratios are calculated for the latest fiscal year end unless otherwise indicated. Data Source: Reuters Fundamentals

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VICTORIA OIL AND GAS PLC

(LONDON STOCK EXCHANGE)

Key Ratios & Statistics (cont.)

Per Share Data
12 Mo May 09 12 Mo May 10 12 Mo May 11 Interim 3 Year Growth

Earning Per Share Sales Per Share Book Value Cash Flow Cash Per Share

(0.12) 0.00 0.14 (0.12) 0.00

(0.01) 0.00 0.08 (0.01) 0.00

(0.00) 0.00 0.07 (0.00) 0.00

*MRQ **MRI

The most important Per-Share Data item is Earnings Per Share. That's because ultimately, the price of your stock is related in some way to the value of the stream of earnings attributable to that share.
Earnings Per Share Adjusted Income Avail. to Common Shareholders Diluted Weighted Average Shares (0.00) (4.70) 1,803.83

**0.04 **0.00

(0.44) (0.51)

Ea r n in gs Pe r Sh a r e 0 .0 4 0 .0 - 0 .0 4 - 0 .0 8 - 0 .1 2 - 0 .1 6 1 2 Mo 1 2 Mo 1 2 Mo Ma y 0 9 Ma y 1 0 Ma y 1 1

This section also includes the amount of Cash Per Share the company had at the time of its most recent quarterly or annual report. Most of the time, this number will be far below the stock price. In a healthy industrial company, a Cash Per Share figure that is close the stock price might suggest that investors are underestimating the worth of the company's ongoing business, thereby creating an interesting investment opportunity for you.

EPS Excluding Extraordinary Items: This is the adjusted income available to Common divided by the diluted weighted average shares outstanding. Sales (Revenue) Per Share: Total Revenue divided by the Average Diluted Shares Outstanding. Book Value Per Share: This is defined as the Common Shareholder's Equity divided by the Shares Outstanding. Cash Flow: Cash Flow is defined as the sum of Income After Taxes minus Preferred Dividends and General Partner Distributions plus Depreciation, Depletion and Amortization. Cash Per Share: This is the Total Cash plus Short Term Investments divided by the Shares Outstanding.

TTM: Trailing Twelve Months; MRQ: Most Recent Quarter; MRI: Most Recent Interim. Latest fiscal year: 2011; Most recent quarter: ; Fiscal year end month: May; All Ratios are calculated for the latest fiscal year end unless otherwise indicated. Data Source: Reuters Fundamentals

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VICTORIA OIL AND GAS PLC

(LONDON STOCK EXCHANGE)

Consensus Estimates
Analyst Recommendations & Revisions
Buy Outperform Hold Underperform Strong Sell Mean Rating
Current As of 1 Week Ago As of 4 Weeks Ago As of 8 Weeks Ago As of 13 Weeks Ago

2 1 0 0 0 1.3

2 1 0 0 0 1.3

2 1 0 0 0 1.3

2 1 0 0 0 1.3

2 1 0 0 0 1.3

Consensus Recommendation BUY Company Fiscal Year End Month May Last Updated 23 June 2012

Consensus Estimate Trends

Sales (Millions) Year Ending May 12 Year Ending May 13 Earnings1 (Per share) Year Ending May 12 Year Ending May 13

Current

As of 1 Week Ago

As of 4 Weeks Ago

As of 8 Weeks Ago

As of 13 Weeks Ago 62

Sa le s 50 37 25

0.2 50.0 0.0 0.3

0.2 50.0 0.0 0.3

0.9 54.2 0.0 0.3

0.9 48.6 0.0 0.3

5.5 53.4 0.0 0.3

12 0 Ma y 1 2 Ma y 1 3
($ Millions)

Consensus Estimate Analysis

Sales (Millions) Year Ending May 12 Year Ending May 13 Earnings1 (Per share) Year Ending May 12 Year Ending May 13

No. of Estimates

Mean Estimate

High Estimate

Low Estimate

3 4 4 4

0.2 50.0 0.0 0.3

0.6 60.0 0.0 1.3

0.0 34.7 (0.0) 0.0

Quarter Historical Surprises

Earnings (Per share) Year Ending May 11 Dividends (Per Share) Year Ending May 11 1 Earnings per share (Adjusted to exclude exceptional items) 2 Net Profit (Adjusted to exclude exceptional items)
1

Estimate

Actual

Difference

Surprise (%)

(0.12) 0.00

(0.19) 0.00

0.07 0.00

(52.61) --

Data Source: Reuters Fundamentals

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VICTORIA OIL AND GAS PLC

(LONDON STOCK EXCHANGE)

Annual Profit & Loss

Type of Update UPD
($ Millions)

UPD
($ Millions)

UPD 9
($ Millions)

Op e r a t in g In co m e -4 - 17 - 30 - 43 - 56 Ma y 0 9 Ma y 1 0 Ma y 1 1
($ Millions)

12Months 31 May 09

12Months 31 May 10

12Months 31 May 11

Total Revenue Cost of Revenue,Total Gross Profit Selling/General/Admin.Expenses Research & Development Depreciation/Amortization Interest Expense/Income Net Op. Unusual Income/Expense Other Operating Expenses,Total Total Operating Expense Operating Income Interest Expense/Income Net Non Op. Gain/(Loss) on Sale of Assets Other, Net Income Before Tax Income Tax - Total Income After Tax Minority Interest Equity In Affiliates U.S. GAAP Adjustment Net Income Before Extra. Items Accounting Change Discontinued Operations Extraodinary Item Tax on Extraordinary Items Net Income Preferred Dividends General Partner's Distributions Inc. Avail. to Common Excl. Extra. Items Inc. Avail. to Common Incl. Extra. Items Basic Weighted Average Shares Basic EPS Excl. Extra. Items Basic EPS Incl. Extra. Items Dilution Adjustment Diluted Net Income Diluted Weighted Average Shares Diluted EPS Excl. Extra. Items Diluted EPS Incl. Extra. Items Div's per Share - Common Stock Gross Dividends - Common Stock Interest Expense, Supplemental Interest Capitalized, Supplemental Depreciation, Supplemental Total Special Items Normalized Income Before Tax Effect of Special Items on Inc. Taxes Inc. Taxes Excl. Impact Special Items Normalized Income After Tax Normalized Income Available to Common Basic Normalized EPS Diluted Normalized EPS
Auditor Auditor Opinion Source Document

0.0 0.0 0.0 6.3 ---35.5 -43.3 (43.3) ---(42.4) 0.0 (42.4) ---(42.4) ----(42.4) --(42.4) (42.4) 355.8 (0.119) (0.119) 0.000 (42.362) 355.752 (0.119) (0.119) 0.000 0.000 0.606 (0.015) 0.177 35.541 (6.821) 0.000 0.000 (6.821) (6.821) (0.019) (0.019)
DHS UWE ARS

0.0 --5.6 -0.2 -0.0 -5.9 (5.9) ---(6.1) 0.0 (6.1) ---(6.1) ----(6.1) --(6.1) (6.1) 968.9 (0.006) (0.006) 0.000 (6.107) 968.920 (0.006) (0.006) 0.000 0.000 0.866 (0.123) 0.004 0.000 (6.107) 0.000 0.000 (6.107) (6.107) (0.006) (0.006)
DHS UWE ARS

0.0 --5.1 -0.0 ---4.3 (4.3) ---(4.7) 0.0 (4.7) ---(4.7) ----(4.7) --(4.7) (4.7) 1,803.8 (0.003) (0.003) 0.000 (4.697) 1,803.830 (0.003) (0.003) 0.000 0.000 0.410 (0.308) 0.016 -(4.697) -0.000 (4.697) (4.697) (0.003) (0.003)
DHS UWE ARS

Ne t In co m e 8 -5 - 17 - 30 - 42 - 55 Ma y 0 9 Ma y 1 0 Ma y 1 1
($ Millions)

Dilu t e d No r m a liz e d EPS 0 .0 0 .0 - 0 .0 1 - 0 .0 1 - 0 .0 2 - 0 .0 2 Ma y 0 9 Ma y 1 0 Ma y 1 1

($ Millions)

Data Source: Reuters Fundamentals

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VICTORIA OIL AND GAS PLC

(LONDON STOCK EXCHANGE)

Annual Balance Sheet

Type of Update UPD
($ Millions)

UPD
($ Millions)

UPD 1 0 .5
($ Millions)

Ca s h & Sh o r t T e r m In v e s t m e n t s 8 .4 6 .3 4 .2 2 .1 0 .0 Ma y 0 9 Ma y 1 0 Ma y 1 1
($ Millions)

31 May 09

31 May 10

31 May 11

Cash Cash and Equivalents Short Term Investments Cash and Short Term Investments Accounts Receivable(Trade), Net Notes Receivable - Short Term Other Receivables Total Receivables, Net Total Inventory Prepaid Expenses Other Current Assets Total Current Assets Property/Plant/Equipment - Gross Accumulated Depreciation Property/Plant/Equip., Net Goodwill, Net Intangibles, Net Long Term Investments Note Receivable - Long Term Other Long Term Assets, Total Other Assets, Total Total Assets Accounts Payable Payable/Accrued Accrued Expenses Notes Payable/Short Term Debt Current Port. LT Debt/Capital Leases Other Current Liabilities, Total Total Current Liabilities Long Term Debt Capital Lease Obligations Total Long Term Debt Total Debt Deferred Income Tax Minority Interest Other Liabilities, Total Total Liabilities Redeemable Preferred Stock Preferred Stock(Non Redeemable), Net Common Stock Additional Paid-In Capital Retained Earnings/Accum. Deficit Treasury Stock - Common ESOP Debt Guarantee Unrealized Gain/Loss Other Equity, Total Total Equity Total Liability & Shareholders' Equity Total Common Shares Outstanding Total Preferred Stock Shares Outs.
Auditor Auditor Opinion Source Document

0.7 --0.7 --0.7 0.7 0.0 0.0 -1.4 118.9 (35.7) 83.2 --0.0 0.0 0.0 -84.6 2.1 -1.1 0.0 1.0 0.8 4.9 1.1 -1.1 2.1 6.6 -3.5 16.1 --4.3 114.6 (39.6) --0.0 (10.8) 68.6 84.6 496.9 -DHS UWE ARS

6.0 --6.0 --1.5 1.5 -0.3 -7.8 152.1 (36.0) 116.1 ---19.9 1.8 -145.7 15.9 -1.0 0.0 1.9 0.7 19.4 0.5 -0.5 2.4 6.6 -7.4 34.0 --11.6 155.6 (44.9) ---(10.7) 111.7 145.7 1,427.8 -DHS UWE ARS

8.4 --8.4 --3.0 3.0 -0.1 -11.6 175.1 (36.4) 138.7 ---27.6 1.0 -178.9 7.3 -6.8 0.0 1.1 0.0 15.2 0.9 -0.9 2.0 6.6 -12.8 35.5 --17.2 183.9 (49.3) ---(8.3) 143.4 178.9 2,138.8 -DHS UWE ARS

T o t a l Cu r r e n t As s e t s 1 4 .4 1 1 .6 8 .7 5 .8 2 .9 0 .0 Ma y 0 9 Ma y 1 0 Ma y 1 1
($ Millions)

T o t a l De b t 2 .5 2 2 .3 8 2 .2 5 2 .1 2 1 .9 9 1 .8 5 Ma y 0 9 Ma y 1 0 Ma y 1 1
($ Millions)

T o t a l Eq u it y 168 143 118 94 69 44 Ma y 0 9 Ma y 1 0 Ma y 1 1

($ Millions)

T o t a l Co m m o n Sh a r e s Ou t s t a n d in g 2700 2100 1600 1100 500 0 Ma y 0 9 Ma y 1 0 Ma y 1 1

($ Millions)

Data Source: Reuters Fundamentals

VOG

VICTORIA OIL AND GAS PLC

(LONDON STOCK EXCHANGE)

Annual Cash Flow Statement

Type of Update UPD
($ Millions)

UPD
($ Millions)

UPD - 5 .4
($ Millions)

T o t a l Ca s h fr o m Op e r a t in g Act iv it ie s - 6 .8 - 8 .2 - 9 .6 - 1 1 .1 - 1 2 .5 Ma y 0 9 Ma y 1 0 Ma y 1 1
($ Millions)

12Months 31 May 09

12Months 31 May 10

12Months 31 May 11

Net Income/Starting Line Depreciation/Depletion Amortization Deferred Taxes Non-Cash Items Cash Receipts Cash Payments Cash Taxes Paied Cash Interest Paid Changes in Working Capital Total Cash from Operating Activities Capital Expenditures Other Investing Cash Flow Items, Total Total Cash from Investing Activities Financing Cash Flow Items Total Cash Dividends Paid Insurance/Retirement of Stock, Net Insurance/Retirement of Debt, Net Total Cash from Financing Activities Foreign Exchange Effects Net Change in Cash Depreciation, Supplemental Cash Interest Paid, Supplemental Cash Taxes Paid, Supplemental
Auditor Auditor Opinion Source Document

(42.4) 0.6 --34.2 ---0.0 0.9 (6.8) (1.1) (3.1) (4.2) (0.2) -1.9 2.2 4.0 (1.5) (8.6) 0.6 0.0 -DHS UWE ARS

(6.1) 0.2 --(1.0) ----(1.7) (8.5) (35.5) 0.0 (35.5) (2.2) -51.6 0.0 49.4 (0.0) 5.3 0.2 --DHS UWE ARS

(4.7) 0.0 --(0.4) ----(6.0) (11.1) (16.3) 0.1 (16.3) (1.9) -31.6 -29.7 (0.0) 2.4 0.0 --DHS UWE ARS

Ca p it a l Ex p e n d it u r e s 10 -1 - 13 - 24 - 36 - 47 Ma y 0 9 Ma y 1 0 Ma y 1 1
($ Millions)

Is s u e o f St o ck 65 52 39 26 13 0 Ma y 0 9 Ma y 1 0 Ma y 1 1
($ Millions)

Is s u e o f De b t 3 .6 2 .9 2 .2 1 .5 0 .7 0 .0 Ma y 0 9 Ma y 1 0 Ma y 1 1
($ Millions)

Ne t Ch a n ge in Ca s h 1 0 .0 5 .3 0 .7 - 3 .9 - 8 .6 - 1 3 .2 Ma y 0 9 Ma y 1 0 Ma y 1 1
($ Millions)

Data Source: Reuters Fundamentals

VOG

VICTORIA OIL AND GAS PLC

(LONDON STOCK EXCHANGE)

Interim Profit & Loss

Type of Update
($ Millions) ($ Millions) ($ Millions) ($ Millions) ($ Millions)

N/A

N/A

N/A

N/A

N/A

Total Revenue Cost of Revenue,Total Gross Profit Selling/General/Admin.Expenses Research & Development Depreciation/Amortization Interest Expense/Income Net Op. Unusual Income/Expense Other Operating Expenses,Total Total Operating Expense Operating Income Interest Expense/Income Net Non Op. Gain/(Loss) on Sale of Assets Other, Net Income Before Tax Income Tax - Total Income After Tax Minority Interest Equity In Affiliates U.S. GAAP Adjustment Net Income Before Extra. Items Accounting Change Discontinued Operations Extraodinary Item Tax on Extraordinary Items Net Income Preferred Dividends General Partner's Distributions Inc. Avail. to Common Excl. Extra. Items Inc. Avail. to Common Incl. Extra. Items Basic Weighted Average Shares Basic EPS Excl. Extra. Items Basic EPS Incl. Extra. Items Dilution Adjustment Diluted Net Income Diluted Weighted Average Shares Diluted EPS Excl. Extra. Items Diluted EPS Incl. Extra. Items Div's per Share - Common Stock Gross Dividends - Common Stock Interest Expense, Supplemental Interest Capitalized, Supplemental Depreciation, Supplemental Total Special Items Normalized Income Before Tax Effect of Special Items on Inc. Taxes Inc. Taxes Excl. Impact Special Items Normalized Income After Tax Normalized Income Available to Common Basic Normalized EPS Diluted Normalized EPS
Source Document Fiscal Period

----------------------------------------------------

----------------------------------------------------

----------------------------------------------------

----------------------------------------------------

----------------------------------------------------

Data Source: Reuters Fundamentals

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VICTORIA OIL AND GAS PLC

(LONDON STOCK EXCHANGE)

Interim Accounts - Balance Sheet

Type of Update
($ Millions) ($ Millions) ($ Millions) ($ Millions) ($ Millions)

N/A

N/A

N/A

N/A

N/A

Cash Cash and Equivalents Short Term Investments Cash and Short Term Investments Accounts Receivable(Trade), Net Notes Receivable - Short Term Other Receivables Total Receivables, Net Total Inventory Prepaid Expenses Other Current Assets Total Current Assets Property/Plant/Equipment - Gross Accumulated Depreciation Property/Plant/Equip., Net Goodwill, Net Intangibles, Net Long Term Investments Note Receivable - Long Term Other Long Term Assets, Total Other Assets, Total Total Assets Accounts Payable Payable/Accrued Accrued Expenses Notes Payable/Short Term Debt Current Port. LT Debt/Capital Leases Other Current Liabilities, Total Total Current Liabilities Long Term Debt Capital Lease Obligations Total Long Term Debt Total Debt Deferred Income Tax Minority Interest Other Liabilities, Total Total Liabilities Redeemable Preferred Stock Preferred Stock(Non Redeemable), Net Common Stock Additional Paid-In Capital Retained Earnings/Accum. Deficit Treasury Stock - Common ESOP Debt Guarantee Unrealized Gain/Loss Other Equity, Total Total Equity Total Liability & Shareholders' Equity Total Common Shares Outstanding Total Preferred Stock Shares Outs.
Source Document Fiscal Period

---------------------------------------------------

---------------------------------------------------

---------------------------------------------------

---------------------------------------------------

---------------------------------------------------

Data Source: Reuters Fundamentals

10

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VICTORIA OIL AND GAS PLC

(LONDON STOCK EXCHANGE)

Interim Accounts - Cash Flow Statement

Type of Update
($ Millions) ($ Millions) ($ Millions) ($ Millions) ($ Millions)

N/A

N/A

N/A

N/A

N/A

Net Income/Starting Line Depreciation/Depletion Amortization Deferred Taxes Non-Cash Items Cash Receipts Cash Payments Cash Taxes Paied Cash Interest Paid Changes in Working Capital Total Cash from Operating Activities Capital Expenditures Other Investing Cash Flow Items, Total Total Cash from Investing Activities Financing Cash Flow Items Total Cash Dividends Paid Insurance/Retirement of Stock, Net Insurance/Retirement of Debt, Net Total Cash from Financing Activities Foreign Exchange Effects Net Change in Cash Depreciation, Supplemental Cash Interest Paid, Supplemental Cash Taxes Paid, Supplemental
Source Document Fiscal Period

-------------------------

-------------------------

-------------------------

-------------------------

-------------------------

Data Source: Reuters Fundamentals

11

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VICTORIA OIL AND GAS PLC

(LONDON STOCK EXCHANGE)

Further Information
Internet Information Home Page: News Releases: Investor Relations: Financial Information: Corporate History/Profile: Executives: Products/Services: Officers Kevin Foo Grant Manheim Robert Palmer Radwan Hadi Leena Nagrecha Jonathan Scott-Barrett Austen Titford Vladimir Andreyev Honore Dairou Martin Devine Clovis Kape Divine Mofa Eckhard Mueller Philip Rand Executive Chairman of the Board Executive Deputy Chairman of the Board Finance Director, Executive Director Chief Operating Officer Company Secretary Managing Director, Cameroon Executive Director Chief Engineer, Russia CSR Manager, Cameroon Commercial Manager, London Sales and Marketing Manager, Cameroon Operations Manager - Cameroon General Manager, Russia Non-Executive Director http://www.victoriaoilandgas.com/ http://www.victoriaoilandgas.com/newsMedia/news.html http://www.victoriaoilandgas.com/investors/stockInformation.html http://www.victoriaoilandgas.com/investors/filings.html http://www.victoriaoilandgas.com/aboutUs/companyOverview.html http://www.victoriaoilandgas.com/aboutUs/directors.html http://www.victoriaoilandgas.com/operations/kazakhstan.html

Victoria Oil and Gas PLC Group Headquarters: Hatfield House, 1ST FLOOR, 52-54 Stamford Street, LONDON, SE1 9LX, United Kingdom, Leena Nagrecha (Secy.)

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