Change of accounting reference date
03 April 2017
The Company today announces a change to its accounting reference date and financial year-end from 28 February to 31 December.
As notified in the Company's admission document, the Company had indicated its intention to change its accounting reference date and financial year-end from 28 February to 31 December. This change will align the Company's accounting reference period with that of Petro Kouilou SA, which will improve comparability of Group reporting across future periods. As a result of this change, AAOG's next three financial reporting events will be as follows:
1) Audited results of the Company for the ten months to 31 December 2016 to be announced by 30 June 2017
2) Unaudited results of the Group for the six months to 30 June 2017 to be announced by 30 September 2017
3) Audited results of the Group for the 12 months to 31 December 2017 to be announced by 30 June 2018.
For further information, please contact:
|Anglo African Oil & Gas plc||Tel: c/o St Brides Partners
+44 20 7236 1177
|David Sefton, Executive Chairman
Alex MacDonald, Chief Executive
|finnCap Ltd (Nominated Adviser and Joint Broker)||Tel: +44 20 7220 0500|
|Christopher Raggett, Giles Rolls, Anthony Adams (Corporate Finance)|
|Emily Morris (Corporate Broking)|
|Throgmorton Street Capital Ltd (Joint Broker)||Tel: +44 (0) 20 7070 0973|
|St Brides Partners (Financial PR)||Tel: +44 20 7236 1177|
Unless otherwise defined herein, capitalised terms in this announcement shall have the same meanings as those defined in the Admission Document which is available on the Company's website www.aaog.co. This announcement should be read in conjunction with the Admission Document.
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
Notes to Editors
Anglo African Oil & Gas (AAOG) is an AIM-listed independent oil and gas company acquiring 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.
Tilapia has an excellent address, being located close to multi-billion barrel fields that include the ENI-operated Litchendjili field and the 5,000bopd Minsala Marine field. Tilapia currently produces approximately 38 bopd from two near-surface intervals. It has an undeveloped discovery in the lower Mengo sands with gross contingent resources of 8.1m barrels and a deeper exploration prospect, with gross prospective resources of 58.4m barrels, in the productive Djeno interval from which the adjacent Minsala field produces.