Summary:Anglo African Oil & Gas plc
Anglo African Oil & Gas plc
Anglo African Oil & Gas plc is an AIM-listed oil and gas company with a producing asset in the Republic of the Congo.
Anglo African Oil & Gas plc (‘AAOG’) owns Petro Kouilou S.A. (‘PK’), which is incorporated in the Republic of the Congo. PK has a 56% interest in the Tilapia Field, which is located in the Republic of the Congo.
AAOG aims to increase output from the existing wells in the Tilapia Field by undertaking two workovers on the existing producing well and by a drilling programme into deeper geological features, the Mengo and Djeno Sands, which Tilapia shares with surrounding fields.
The Directors intend to distribute free cash to shareholders through regular dividends, once production reaches a sustained level of 1,000 bopd and provided that oil prices are not less than USD 30/barrel.
It is AAOG’s intention to conduct its activities in a professional and responsible manner for the benefit of its shareholders, its employees, and the national and local communities where it operates.