Anglo African Oil & Gas PLC (LON:AOG) has had its confidence reaffirmed by the latest report to assess the results of the TLP-103C well, at the Tilapia field in the Republic of the Congo.
The report was penned by Havoc Partners LLP, a group of geoscientists in Australia, which reviewed the interpretations made in previous reports by Schlumberger and Nutech.
Havoc noted that "both reports have concluded that reservoir quality is between good and excellent, which supports a commercial decision to implement a plan to seek to produce from the Djeno [reservoir]."
AAOG meanwhile told investors that it is now developing a plan to produce from the Djeno reservoir through a re-entry of the TLP-103C well.
"This report supports our view that we can achieve the company's original and primary goal of producing oil from the Djeno,” said executive chairman David Sefton.
“The team is finalising the operational logistics to achieve this and we intend rapidly to implement the production plan."