Victoria Oil & Gas Plc reported unaudited group earnings and production results for the first quarter ended March 31, 2018. For the quarter, the company's net debt was $17.4 million. Net revenue was $2.5 million compared to $8.1 million a year ago. As previously guided, the loss of revenue from ENEO, which accounted for approximately 53% of revenue in 2017, will be significant for the Group in 2018 and will affect profits and results.

For the quarter, the company reported average daily gas production for first quarter 2018 of 3.50 mmscf/d compared to 14.57 mmscf/d a year ago.

The revised year end production targets are 11.3 mmscf/d if ENEO is back online by 1 July 2018 and 7.8 mmscf/d if they remain offline.