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Anglo African O&G (AAOG)

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Thursday 02 August, 2018

Anglo African O&G

Rig Update

RNS Number : 5423W
Anglo African Oil & Gas PLC
02 August 2018
 

Anglo African Oil & Gas PLC / Index: AIM / Epic: AAOG / Sector: Oil & Gas

2 August 2018

ANGLO AFRICAN OIL & GAS PLC

('AAOG' or the 'Company')

Rig Update

 

Anglo African Oil & Gas plc, an independent oil and gas developer, is pleased to provide an update on its planned multi-horizon TLP-103 well to be drilled at the Company's Tilapia licence in the Republic of Congo.

 

Having cleared customs at Point Noire ahead of schedule, the set-up of the SMP-102 rig is now approximately 80% complete.  Accordingly, AAOG anticipates that the TLP-103 well will spud on 15 August 2018 subject to rig testing and acceptance. The TLP-103 well is expected to take 64 days to drill.

 

David Sefton, Executive Chairman, commented "I am delighted that we have a spud date for TLP-103 and am grateful for the hard work of our operational team that has brought this date forward in such a professional manner. TLP-103 could be truly transformational for the Company and its shareholders and I am looking forward to providing further updates in due course."

 

**ENDS**

 

 For further information please visit www.aaog.co or contact:

 

Anglo African Oil & Gas plc

Tel: c/o St Brides Partners +44 20 7236 1177

David Sefton, Executive Chairman

James Berwick, Chief Executive Officer

 

 

 

 

finnCap Ltd (Nominated Adviser and Broker)

 

Tel: +44 20 7220 0500

Christopher Raggett, Giles Rolls, Anthony Adams (Corporate Finance)

 

Camille Gochez (Corporate Broking)

 

 

 

St Brides Partners (Financial PR)

Tel: +44 20 7236 1177

Frank Buhagiar, Hugo de Salis, Juliet Earl

 

 

Notes to Editors

Anglo African Oil & Gas (AAOG) is an AIM-listed independent oil and gas company that owns a 56% stake in the producing Tilapia oil field in the Republic of the Congo.  The Company boasts a low-cost production story in a prolific hydrocarbon region with significant exploration upside, differentiating it substantially from its E&P peers.  Additionally, management's remuneration is tied to hitting production milestones, reflecting their strong focus on cost control.

 


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