AAOG is out of cash, and without further funds will not be able to drill the planned sidetrack into the Djeno reservoir at its Tilapia field in the Congo. Reimbursement of monies it is owed are being pursued from state oil company, SNPC, former rig operator, SMP, and Anglo Tunisia Oil & Gas, but there is no guarantee these can be recouped and, even then, whether it will happen in a timely enough manner. Alternate financing options are being reviewed, but with a poorly performing Investor
12 Dec 2019
Anglo African Oil & Gas - Out of cash
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Anglo African Oil & Gas - Out of cash
- Published:
12 Dec 2019 -
Author:
Jonathan Wright -
Pages:
3
AAOG is out of cash, and without further funds will not be able to drill the planned sidetrack into the Djeno reservoir at its Tilapia field in the Congo. Reimbursement of monies it is owed are being pursued from state oil company, SNPC, former rig operator, SMP, and Anglo Tunisia Oil & Gas, but there is no guarantee these can be recouped and, even then, whether it will happen in a timely enough manner. Alternate financing options are being reviewed, but with a poorly performing Investor