Anglo African Oil & Gas targets first oil in April from TLP-103 well

Writer, Stock Market Wire
Wednesday, February 13, 2019 - 09:53

Anglo African Oil & Gas said Wednesday it planned to bring its TLP-103C well at its Tilapia licence in the Republic of the Congo into production in April this year.

The well was expected to produce up to 1,500 barrels of oil per day, and 'provide considerable cashflow for the company of approximately US$1 million net per month,' the company said, with breakeven oil below $20 a barrel.

'The development schedule is predicated on the availability of Schlumberger's fracking equipment which we have been informed will be available in the beginning of April,' it added.

At 9:53am: (LON:AAOG) Anglo African Oil Gas Plc Ord 5p share price was +0.45p at 10.75p

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