Member Info for Soundingoff

"Perhaps more significantly, and following the failure of last year's workover, it was satisfying to have oil and gas recovered from TLP-102. The team is now fully engaged in deciding how best to bring the well into sustained production. Critically, however, a reservoir is now proven on the opposite side of the fault from TLP-101, and TLP-102 should now provide a further source of revenue for the Company."

Update on workovers of TLP-101 and TLP-102 Anglo African Oil & Gas plc, an independent oil and gas developer, is pleased to announce the following operational update at its 56% owned Tilapia field ('Tilapia') in the Republic of the Congo: 1. TLP-101 Well The flow lines (and all associated topside equipment) to TLP-101 were cleaned successfully and have been reassembled ready to receive oil flow. As the well was required to be shut down during the cleaning process the Company decided initially to bring the well back on line through the annulus as a test, rather than through the coiled tubing and flow lines which is the main production method on this well. The Company tested production for a period of five days via the annulus to compare flow against the previously restricted flow lines to provide a baseline prior to reverting back to the coiled tubing. During this test period, TLP-101 produced between 80-90 barrels of oil per day through the annulus, which represented an increase in production of 120 per cent when compared to the flow-rate prior to the workover. The well has now been temporarily closed to enable a shift back to producing through the coiled tubing and the newly cleaned flow lines. The Company is performing a pressure build up before opening the choke and getting the well back into stabilised production. The Company estimates this will take approximately five days. The Company will make a further announcement regarding production levels from TLP-101 once the well has been fully brought back on line and flow tested through the production tubing. 2. TLP-102 Well Schlumberger conducted a successful intervention focussed on the integrity of the perforations on well TLP-102. The Company believes that any near-wellbore formation damage has now been remedied by the introduction of acid and that as a result contact has been established with the reservoir. The well was produced to surface with the aid of nitrogen lift. On the assumption that contact with the reservoir has now been successfully established, the Company is now investigating the best method by which to produce from this well. This may include a further engineering solution, and the Company has the relevant equipment available in its current inventory if required to complete this work. David Sefton, Executive Chairman, commented, "I am pleased that these two interventions to TLP-101 and TLP-102 have gone well. The initial testing of enhanced flow rates from TLP-101 was excellent news. The team is now working to bring the well back on line while carefully allowing pressure to increase so as to determine the new optimal flow rate.

I'm not a fan of how this company deals with some matters, more recently the share awards and the consistently late TR1s. You could argue those are outside of their control, but it all smells somewhat. However the fundamentals are fantastic, along with the prospects and PW's long term vision. A very frustrating share for quite some time now.

Possibly 101 & 102 news this week?

That's fantastic news all round- workovers, funding and drilling. finnCap have the NPV of TLP101 and 102 at �16m, so if successful, we should hopefully close in on mid 20s.

Loz: 'Finally, the workover of TLP-102 by Schlumberger will take place earlier than previously announced and the Company now expects this workover to be completed by early April 2018. The Company will announce the results of this workover once complete.' TLP-101 is already being tested. So news in mid April or earlier IMO?

Let's just hope there will be some SP progress with the spud of SD, otherwise there will be blood on the dancefloor.

I don't think calling it a ramp is fair. Within a matter of weeks we could have significant uplifts in bopd from 101 and 102. This would materially affect the SP and the dilution from any potential raise.

'Finally, the workover of TLP-102 by Schlumberger will take place earlier than previously announced and the Company now expects this workover to be completed by early April 2018.' Never thought I'd see those words in an RNS from this company!

Not a holder here, but may take a short term trade. It appears the new CFO came in around Oct 17 after the last audit. Maybe he changed the way they report cashflow and the processes haven't been audited since? jl5006- I agree with what you say should happen re the systems, but it wouldn't surprise me if it hadn't (speaking as a Responsible Individual for Audit). The fault could of course lie with the Company or the Auditors.

One could say it's almost timed to perfection.

Interesting how you pick the low point to make your argument itsgambling, and rather skewed. Far more indicative would be the period April to September '17 when the average SP was around 22p and was brought down by poor results from the workover. Otherwise it was trading high 20s.

You also said a placement would happen at 7p and didn't buy at 9p. I did. Now you're predicting a 10p placement. How long before you're predicting a 13p placing? All talk, no walk...

Dear me itsgambling, the desperation is dripping off you. I don't think you'll ever buy in!

'AAOG jumped 2p, to 13.75p after the Aim-listed developer secured a drilling rig and set a date in June to start work on its Tilapia oilfield in the Republic of Congo.'

Here you go: http://sharetalk.ltd/oilandgas/angloafricanoilandgas/0/index.html#4

If there's one thing for certain, we know they'll want to dilute their options as little as possible if they have to do a placing... The salary isn't there for them, so they are definitely incentivised to do what's best for us and them...

Much better than expected. What a difference some quality management can make. It'll be interesting what they can do with 101 & 102. �10m MCap vs �70m to �650m NPV on TLP-103 success IIRC. Roll on June.

5. Workover of TLP-101 PK is due to start the dismantling and cleaning of flow lines on TLP-101 during the week commencing 5 March. Once completed, there will be a series of tests and adjustments to ensure that the well is producing at maximum levels. Conclusion The Company has now progressed all aspects of its planned works for the coming months: the most important step towards the award of a new, 20-year licence over Tilapia has been achieved and the Company now has operational certainty on the path to drilling TLP-103 and completing the workovers of TLP-101 and TLP-102. The recommendation by SNPC that this 20-year licence be awarded will dramatically improve the value of the Company. David Sefton, Executive Chairman, commented, "The recommendation by SNPC that the 20-year licence over Tilapia be awarded represents a major milestone for AAOG. As previously announced, this is a critical first step before starting the drilling programme at Tilapia that will scale up production and test the Djeno Sands, which have proved to be highly productive on adjacent fields. Thanks to existing production and an excellent address in a proven and prolific basin, we have long held the view that Tilapia is a world-class development and exploration opportunity. In parallel, it is positive news that we have secured a rig to drill TLP-103, that ancillary works to prepare for drilling are now complete and that progress is now being made on the workovers of both TLP-101 and TLP-102, either of which could materially increase production from the current 38 bopd. I hope that the extent of the progress made in recent months is clear. It is a testament to our new CEO, James Berwick, and the entire team at Petro Kouilou, led most capably by its Directeur-General, that so much has been achieved since the change in the Company's management. I know that everyone is keen to keep up the pace and move through to the drilling of TLP-103. As a final comment, I think it is worth noting that, notwithstanding the delays of last year, the Company has now made significant progress, having moved to secure a 20-year extension of the licence period, developed a robust plan to drill TLP-103 and put the right team in place to execute this plan. In my view, the position and prospects of the Company are better than was the case at the IPO." The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014. **ENDS**

Anglo African Oil & Gas plc, an independent oil and gas developer, is pleased to announce the following: 1. New 20-year licence The Congolese state oil company, Soci�t� Nationale des P�troles du Congo ('SNPC'), has proposed and unconditionally recommended the award of a new licence (the 'New Licence') covering the Tilapia oil field ('Tilapia') in the Republic of the Congo ('the Congo'). The Company has a 56 per cent interest in Tilapia, with SNPC currently holding the other 44 per cent. The 50-square km Tilapia licence area is located in the prolific Lower Congo Basin and lies adjacent to one billion-barrel fields producing from multiple pay zones. The New Licence is proposed to have a 20-year term. Under the terms of the New Licence, the Company's wholly owned subsidiary, Petro Kouilou ('PK'), will continue to hold a 56 per cent interest in and operatorship of Tilapia. It is not proposed that a signing bonus be paid, but the Company has committed to drilling TLP-103, a new multi-horizon well targeting: o two million-barrels of proven reserves in the R1/R2 producing reservoirs; o an 8.1-million-barrel gross contingent resource discovery in the Mengo interval; and o a deeper prospect, which has been assigned 58.4 million-barrels of gross unrisked prospective resources in the Djeno Sands. The Company will make a further announcement once the New Licence has formally been ratified. 2. Drilling rig secured for TLP-103 Following the recommendation by SNPC that a New Licence be awarded, the Company has entered into an agreement with Soci�t� de Maintenance P�troli�re ('SMP'), a French drilling company with a depot in Gabon, for the supply of Rig-102 to drill TLP-103. Rig-102 was last used to drill wells for TOTAL Gabon. Allowing for transportation into the Congo and recommissioning, drilling operations will commence on or around 15 June 2018. Drilling is expected to take 64 days. 3. Site preparation for drilling of TLP-103 The Tilapia site has now been extensively renovated in preparation for drilling operations and the anticipated significant increase in production. The scope of works includes resurfacing relevant parts of the drill site, installation of a storage hangar, complete refurbishment of the storage tank and a safety equipment upgrade. 4. Workover of TLP-102 The Company is entering into a significant turnkey contract with Schlumberger to carry out a an intervention on the TLP-102 completion using coiled-tubing with a jetting tool attached with the intention of removing any obstructions or clogging to the perforations. This work will occur during April and May 2018 with a view to then bringing TLP-102 into production. This could result in materially increased production. The Company will provide an update on the results of this work once completed. 5. Workover of TLP-101 PK is due to sta