Anglo African Oil & Gas plc is an AIM-listed oil and gas company with a producing asset in the Republic of the Congo.
Anglo African Oil & Gas plc (‘AAOG’) owns Petro Kouilou S.A. (‘PK’), which is incorporated in the Republic of the Congo. PK has a 56% interest in the Tilapia Field, which is located in the Republic of the Congo.
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.
RiverFort participated in an Equity Sharing Agreement with AAOG together with for a subscription of 109,331,011 ordinary shares for a total commitment of £5,685,212.57.
The agreement is expected to help AAOG to re enter its Tilapia field in the DR Congo with a view to producing oil from the Djeno horizon.
Fund capital expenditures for the future development of the Tilapia field