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Commencement of Drilling at Tilapia Oil Field

Source: www.gulfoilandgas.com 8/15/2018, Location: Africa

Anglo African Oil & Gas plc, an independent oil and gas developer, is pleased to confirm that the TLP-103 well ('TLP-103' or 'the Well') on the Tilapia oil field ('Tilapia') spudded at approximately 12 p.m. on 15 August 2018. AAOG holds a 56% working interest in the producing Tilapia field, which is located in the prolific Lower Congo Basin in the Republic of the Congo.

TLP-103 will be drilled to an intended total depth of 2,700 metres with completion expected in 64 days. The Well targets multiple horizons including the shallow R1/R2 sands that are already producing at Tilapia; an undeveloped discovery in the lower Mengo sands; and a deeper exploration prospect in the Djeno interval from which the adjacent Minsala field produces at a rate of 5,000 bopd. Depending on results from these three horizons, the Well may also be extended down to test the Vanji Horizon.

David Sefton, Executive Chairman, commented: "The commencement of drilling operations ahead of the schedule expected at the time of the recent placing represents the culmination of a considerable amount of hard work by the team. In the space of six months, we have effectively built a new operations team from scratch, commenced the well planning process, raised additional funds, negotiated all relevant contracts, completed a new Environmental Impact Assessment, successfully executed the workover of the two existing wells and have now mobilised an entire drill team and equipment. This is a real achievement for a junior oil and gas company and I would like to take this opportunity to commend the professionalism and expertise of both AAOG's management and the in-country team on the ground.

"As has been the case since listing, TLP-103 has a highly attractive risk / reward trade-off: low risk associated with the development of proven intervals at Tilapia; and high reward in the event of success at the deeper prospect in the Djeno. With this in mind, I look forward to providing further updates on progress at the well site over the coming weeks, as we focus on realising Tilapia's considerable potential."

For more information about related Opportunities and Key Players visit West Africa Projects

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