News

December 17, 2008

Volga Gas Drilling Efforts Rewarded With 2009 Production Tipped To Climb

This has been a positive week for Volga Gas, the Russian-focused oil and gas independent listed on London’s Alternative Investment Market.

The company holds an enviable position in that it has some decent production coming out of the Volga region, with some cash in the bank and no debt on its hands.

Like others, Volga Gas has lost a great deal of value in recent months amid stock market turmoil, but prices edged back upwards earlier this week when news broke that it would be growing production during 2009.

On the Karpensky licence area, Volga Gas said in an update that drilling in the supra-salt zone on the...