Anglo African Oil & Gas PLC Update on first workover at Tilapia oil field (2599G)
May 26 2017 - 2:00AM
UK Regulatory
TIDMAAOG
RNS Number : 2599G
Anglo African Oil & Gas PLC
26 May 2017
Anglo African Oil & Gas PLC / Index: AIM / Epic: AAOG /
Sector: Oil & Gas
ANGLO AFRICAN OIL & GAS PLC
('AAOG' or the 'Company')
Update on first workover at Tilapia oil field
Anglo African Oil & Gas plc, an independent oil and gas
developer, announces that testing of the R2 reservoir in well
TLP-102 has confirmed the presence of hydrocarbons and pressure
within the reservoir. The Company has reperforated the well albeit
without achieving flow. Accordingly, AAOG will evaluate the data
accumulated during the perforation to determine the best solution
and identify further stimulation techniques with the intention of
bringing this well into production.
As previously disclosed, the next stage of the fully-funded work
programme is for the Company to drill a new multi horizon well at
TLP-103 in the R1 Mengo sands which will also test the deeper Djeno
sands.
In the meantime, initial steps to optimise production from
TLP-101ST have increased the flow rate of this well by 40 per cent.
from approximately 32 bopd to approximately 45 bopd. AAOG will
shortly be seeking to further optimise the flow rate of TLP-101ST
by the application of more advanced stimulation techniques.
**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
Alex MacDonald, Chief Executive
finnCap Ltd (Nominated Adviser and Tel: +44 20 7220
Broker) 0500
Christopher Raggett, Giles Rolls,
Anthony Adams (Corporate Finance)
Emily Morris (Corporate Broking)
St Brides Partners (Financial PR) Tel: +44 20 7236
1177
Frank Buhagiar
Elisabeth Cowell
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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