- Anglo African Oil & Gas said that testing work had confirmed multiple discoveries from a well at its Tilapia licence in the Republic of the Congo.

Schlumberger wireline logging on the TLP-103C well had confirmed oil columns amounting to an aggregate of 44 metres across its identified horizons, the company said.

Anglo African Oil & Gas said it would now resume drilling operations at TLP-103C, targeting the deeper Djeno horizon, which was known to be a prolific producer on neighbouring fields.

'The confirmation of a combined 44 metres of oil columns across multiple horizons, including the discovery of additional reservoirs is a fantastic result for the company and exceeds our expectations,' executive chairman David Sefton said.

'Subject to the results of flow testing, the well has the potential to provide Anglo African Oil & Gas with a major step-up in production and cashflow and marks an excellent start to the Tilapia field development programme.'

At 2:00pm: [LON:AAOG] Anglo African Oil Gas Plc Ord 5p share price was -2.8p at 13.75p

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