Member Info for Loz786

itsgambling - oh no...must be careful next time :-)

Hoping the next RNS tells us more about what they plan to do with the rig. Preferred if they waited for this drill to be ready maybe at some point in Jan and drill Feb, rather than trying to seek another drill. Hopefully, more clarity will be provided in the next RNS, so looking at a fortnight max. GLA

I am not a fan of the management but waiting to see what the next Rns states. Personally, I rather would preferred if they just wait for the drill to become available rather then spending time searching for a new rig and then making it to drill standards etc.

agree Maestro... not a long wait either way and next update should hopefully give us a better indication.

Current licence is till 2020 and if new license is awarded then this will take the licence beyond 2020. Nowhere does it state drilling if new licence is awarded only...

agree, can't see it dropping much further. should get an update within the next fortnight or so.. low market cap and good rewards to be had at these levels.

Once rig is secured then game is on.. Next update will give us more clarity as that would toll us if they should have a realistic update on rig availability. Expecting us to drill by end of Q1 2018 either way, so another few months not end of the world.

Yep, as expected a small delay if rig is available in Jan, so would assume drilling in Feb? Otherwise looking at end of Q1 2018 at the earliest if they decide to find another contractor etc. Frustrated but let's see what they got to say in their next RNS before end if the year..

London Stock Exchange Search Quotes Search Home › RNS › News Regulatory Story Company Anglo African Oil & Gas PLC TIDM AAOG Headline Corporate Update Released 07:00 11-Dec-2017 Anglo African Oil & Gas plc, an independent oil and gas developer, is pleased to announce a corporate update in line with its plan to increase production and reserves at its 56% owned Tilapia oil field ('Tilapia') in the prolific Lower Congo Basin. The Company's strategy includes the workover of existing wells and the drilling of TLP-103, a new multi-horizon well which, in addition to targeting producing reservoirs and an 8.1m barrel gross contingent resource discovery, will test a deeper prospect which has been assigned 58.4m barrels of gross prospective resources. Update on new licence and drilling of TLP-103 Discussions are at an advanced stage with the relevant authorities in the Republic of the Congo (the 'Congo') for the award of a new licence in respect of the Tilapia field which, if awarded, will extend AAOG's interest in Tilapia for a considerable period beyond the 2020 end date of the current licence. AAOG wishes to ensure that this process is completed before the start of drilling of TLP-103. AAOG is very pleased with progress on the licence extension and hopes to provide a further update on this before the end of the year. AAOG has recently inspected its preferred rig for the drilling of TLP-103, which is on operation with a major international oil company in the Congo. The work for that other company is now scheduled to complete in January, a delay from the earlier estimate of mid-December. Negotiations for the terms for the preferred rig are in their final stage. Due to the delays in the availability of this rig over the past months, the Company has taken steps to mitigate the effect of any further delay. In particular, the Company is discussing alternative offers in place from other contractors in order to ensure that drilling can commence in Q1 2018. Consistent with this, the Company will not sign a rig contract until availability is guaranteed. The Company has managed its cash resources carefully, and continues to do so. It has sufficient capital to meet its share of the costs of drilling TLP-103. Appointment of highly experienced Operations Manager to oversee drilling of TLP-103 As announced in the Company's Half-Yearly Report of 26 September 2017, Mr Alain Guiraud has been appointed on a fixed project contract basis as Operations Manager to oversee the drilling of TLP-103. Mr Guiraud will be based in the Congo for the duration of this project.

Shouldn't be long now..

Hope so, its been a testing few months here.

seismic results end of the year or before?

Thanks Phoebus..

Hi, is there a timetable for the drills? am correct saying one next year and Guyana following?

Hope Rose would have completed the sale of the mill in the next few weeks, hopefully a month worst case scenario. Then end of the year or early new year, we should get seismic results :-)

appreciated guys..

I am holding but to average now (:- happy to hold till mid 2019. Gla

Hi All, Is Rowallan drill mid summer next year? Cheers

agree Nomad, good prospects! .. personally going to wait till drill dates confirmation and buy nearer to that time. Should be a good 2018.

Typical market overreaction on news which was expected. Great investment for the patient!