Anglo African Oil & Gas PLC

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Market Cap:
£1.02 m
0.25 GBX
52 weeks high
52 weeks low

Our Strategy

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.


The Tilapia Field is 1.8km offshore of the Republic of the Congo, located in the Lower Republic of the Congo Basin. It is drilled from onshore and has production and storage facilities onshore. It is a 45 minute drive from Point Noire and 17km from the nearest refinery.

The Tilapia Field has been in production since 2007 and is currently producing 38/bopd of 39-41 API light sweet crude, from wells in the R1/R2 horizon. With workover and enhanced oil recovery techniques, AAOG expects to increase production from this horizon and continue production for many years. P90 reserves in R1/R2 are estimated at 7.6 million barrels.

AAOG believes that with the application of enhanced oil recovery techniques, wells TLP101 and TLP102 can substantially increase production. The first workover involves reperforation and acidisation of the R1 and R2 reservoirs in well TLP102 which will be drilled and connected to the manifold. The second workover involves the setting of a progressive cavity pump over the R2 reservoir in well TLP101.

Within the Tilapia Field, developments in seismic techniques have recently been able to interpret the presence of hydrocarbons in the Djeno Sands, which lie below the pre-salt layer. In neighbouring fields ENI, SOCO International and Oryx are already producing or in the final stages of testing prior to production from the Djeno Sands.

The seismic material indicates that the Djeno Sands have high volumes of reserves, and the presence of hydrocarbons in the AAOG block is confirmed with conventional flow rates. This was not brought into production within Tilapia when originally tested because the necessary techniques to kick-start production did not then exist.

The Djeno Sands have been shown to have reservoirs that, in neighbouring fields, have been in production since 2013, with production of 4,750-5,000 bopd per well. These other fields have enjoyed high flow rates, which are caused by the oil layer itself being naturally pressurised by lower lying high-pressure gas deposits.


London & Republic of Congo.

James Cane

James is a Fellow of the Institute of Chartered Accountants in England and Wales and has been both finance director and chief executive in listed and private-equity backed businesses. He is currently finance director of KCR Residential REIT plc as well as CFO of Linton Capital LLP.

Registered Company address: 27/28 Eastcastle Street, London W1W 8DH

Email: [email protected]

Contact for media enquiries: St Brides Media & Finance - St Michaels Alley, London EC3V 5DS

Registered in England: No 04140379

NOMAD and Broker
finnCap Ltd
60 New Broad Street,
London EC2M 1JJ


Shares issued

As at 17 January 2019, the number of ordinary shares in issue was 237,929,038. The Company does not hold any shares in treasury.

Major shareholders

As at 20 February 2019, the Company has been notified of the following interests in 3% or more of the issued ordinary share capital of the Company:

Name of Shareholder  Number of Ordinary Shares % of
issued share capital
Miton Group plc 29,981,677 12.6%
Sister Holding SAS 16,354,015 6.87%
Kilkenny Limited 12,500,000 5.25%


NOMAD and Broker
finnCap Ltd
60 New Broad Street,
London EC2M 1JJ

Solicitors to the Company
3 Noble Street,
London EC2V 7EE

Share Registrars Limited
The Courtyard,
17 West Street, Farnham,
Surrey GU19 7DR

Solicitors (Congo)
Cabinet Fernand Carle
Pointe Noire, Congo

Crowe Clark Whitehill LLP
10 Salisbury Square,
London EC4Y 8EH

Financial PR
St Brides Media & Finance
St Michael's Alley,
London EC3V 5DS