13 August 2018
Anglo African Oil & Gas plc, an independent oil and gas developer, is pleased to announce that Chief Executive Officer, James Berwick, hosted a ceremony on Saturday 11 August at the Company's Tilapia licence in the Republic of Congo ahead of the planned spud of the potentially transformational TLP-103 well.
Over 300 guests attended the ceremony, including the Director to the Minister of Hydrocarbons, the Director General of Hydrocarbons ('DGH'), dignitaries from all government offices including the Director General of the Environment, representatives from AAOG's partner Société Nationale des Pétroles du Congo, as well as local village elders and members of the Company's operational team on the ground.
The ceremony follows the timely completion of the set-up of the SMP-102 rig which has been contracted to drill the TLP-103 well. Pre-drill rig inspections are underway by both an international rig inspection company contracted by AAOG and drilling contractor SMP Drilling. Drilling operations remain on schedule to commence on the 15 August 2018 and are expected to take 64 days to complete.
James Berwick, Chief Executive Officer, commented "It has been a pleasure to welcome guests from the government, our partners and local dignitaries to celebrate the hard work and dedication of our team during these past months. It has been an incredible show of strength from all involved which has culminated in setting a spud date for the TLP-103 well earlier than originally anticipated. I look forward to validating the hard work that has gone towards getting to this point and updating the market on spud.
"Looking ahead, I am encouraged by the relationships that we have built with local parties and was particularly pleased to see the Director to the Minister of Hydrocarbons and the DGH in attendance. Their presence was an extremely positive indicator of local attitudes towards our operations."
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, 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.