(Alliance News) - Anglo African Oil & Gas PLC on Friday said it has received a further USD850,000 from the Republic of the Congo's national oil company.
The funds are for reimbursement of costs for drilling the TLP-103C well in the country, and wider development carried out by Anglo African of the Tilapia licence.
This is the fourth payment received by Anglo African from Societe National des Petroles du Congo, with SNPC now owing the company USD5.1 million.
Earlier Friday, Anglo African reported a widened annual pretax loss, mainly due to a doubling in costs and impairments made on Tilapia field wells.
Anglo African shares were 12% lower on Friday afternoon at 5.30 pence each.