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Sunday, August 19, 2018
Anglo African Oil & Gas saw the spud of its TLP-103 well on the Tilapia oil field offshore the Republic of Congo on August 15. The TLP-103 will be drilled to a planned total depth of 2,700 meters with completion expected in 64 days.
The well is targeting multiple horizons including the shallow R1/R2 sands that are already producing at Tilapia; an undeveloped discovery in the lower Mengo sands and a deeper exploration prospect in the Djeno interval from which the adjacent Minsala field produces at a rate of 5,000 bpd. Depending on results from these three horizons, the well may also be extended down to test the Vanji Horizon.
David Sefton, Executive Chairman, commented: “The commencement of drilling operations ahead of the schedule expected at the time of the recent placing represents the culmination of a considerable amount of hard work by the team. In the space of six months, we have effectively built a new operations team from scratch, commenced the well planning process, raised additional funds, negotiated all relevant contracts, completed a new Environmental Impact Assessment, successfully executed the workover of the two existing wells and have now mobilised an entire drill team and equipment. This is a real achievement for a junior oil and gas company and I would like to take this opportunity to commend the professionalism and expertise of both AAOG’s management and the in-country team on the ground.
“As has been the case since listing, TLP-103 has a highly attractive risk / reward trade-off: low risk associated with the development of proven intervals at Tilapia; and high reward in the event of success at the deeper prospect in the Djeno. With this in mind, I look forward to providing further updates on progress at the well site over the coming weeks, as we focus on realizing Tilapia’s considerable potential.”
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