Anglo African Oil & Gas PLC Board Change (6376R)
September 25 2017 - 1:01AM
UK Regulatory
TIDMAAOG
RNS Number : 6376R
Anglo African Oil & Gas PLC
25 September 2017
Anglo African Oil & Gas PLC / Index: AIM / Epic: AAOG /
Sector: Oil & Gas
ANGLO AFRICAN OIL & GAS PLC ('AAOG' or the 'Company')
Board Change
Anglo African Oil & Gas plc, an independent oil and gas
developer, announces that Oleg Schkoda has stepped down from the
board of the Company and resigned from his position as Director of
Operations.
The Company remains committed to unlocking the value in Tilapia
via the upcoming drilling of TLP103 and is in advanced negotiations
to appoint an experienced drilling manager to oversee this vital
part of the Company's journey.
David Sefton, Executive Chairman of AAOG, said: "We would like
to thank Oleg for his contribution to the Company. We are moving
forward with our plans to drill the potentially transformational
TLP103 well. Following an internal review of the structure of
operations, including consultations with the Directeur General of
Petro Kouilou, it was decided that there was a clear need to
bolster the operational team by appointing an experienced drilling
manager."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
**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
Officer
finnCap Ltd (Nominated Adviser Tel: +44 20
and Broker) 7220 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, Olivia Vita
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 48 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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