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Anglo African Oil & Gas said it had entered into an agreement with Societe de Forage Petroliers for a rig to carry out drilling operations on well TLP-103C-ST at the Tilapia field in the Republic of Congo
The rig agreement gives AAOG the right to contract the rig for TLP-103C-ST at Tilapia, in which the company had a 56% interest, and a further four wells at its discretion.
Drilling operations at TLP-103C-ST could commence either in the first quarter or the second of 2020.
The operational plan is to re-enter the existing TLP-103C well and drill the new sidetrack just below the mengo formation, with the company saying it believed that the sidetrack operations had an attractive risk-to-reward profile.
At 9:49am: (LON:AAOG) Anglo African Oil Gas Plc Ord 5p share price was -0.2p at 2.95p