Anglo African Oil & Gas plc, an independent oil and gas developer, announces that the Company has been informed by its drilling contractor, SMP, that they have experienced a topside issue that has affected the rig.
As a result, the Company has taken the decision to temporarily suspend drilling TLP-103 while a specialist review of the various solutions is undertaken.
The Company is working to determine the optimum solution with a view to restricting any delay to a matter of weeks. A further announcement will be made in due course. In the meantime, the Company is putting in place contingencies which aim to recover the costs related to this and/or cover any cost overruns.
For further information please visit www.aaog.co
Anglo African Oil & Gas (AAOG) is an AIM-listed independent oil and gas company that owns 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.
