29 Jun 2017 11:20
Anglo African Oil & Gas PLC / Index: AIM / Epic: AAOG / Sector: Oil & Gas
ANGLO AFRICAN OIL & GAS PLC
('AAOG' or the 'Company')
Result of AGM
Anglo African Oil & Gas plc, an independent oil and gas developer, is pleased to announce that all resolutions were duly passed at the Company's Annual General Meeting held today.
**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 |
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Alex MacDonald, Chief Executive |
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finnCap Ltd (Nominated Adviser and Broker) | Tel: +44 20 7220 0500 |
Christopher Raggett, Giles Rolls, Anthony Adams (Corporate Finance) |
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Emily Morris (Corporate Broking) |
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St Brides Partners (Financial PR) | Tel: +44 20 7236 1177 |
Frank Buhagiar Elisabeth Cowell
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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.