Anglo African Oil & Gas PLC Zenith Loan Agreement (1231B)

TIDMAAOG

RNS Number : 1231B

Anglo African Oil & Gas PLC

28 January 2020

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014 ("MAR").

Anglo African Oil & Gas plc ("AAOG" or "the Company")

Zenith Loan Agreement

Further to the announcement of 6 January 2020, the Company confirms that it is currently perfecting the security to be granted to Zenith Energy Ltd ("Zenith") pursuant to the loan agreement between the Company and Zenith. This requires the re-registration of Anglo African Oil & Gas Congo S.A.U as a "multi shareholder" company in the Republic of the Congo, which is an administrative legal process. Accordingly, the Company has not yet drawn the GBP250,000 available to it pursuant to that agreement but is confident of being able to do so in due course. A further announcement will be made once the security has been perfected and the loan has been drawn.

In the meantime, and following receipt of monies from Forum Energy Services Limited as announced on 20 January 2020, the Company has sufficient cash to continue trading until the end of March absent the loan from Zenith and any unforeseen valid claims.

Enquiries:

 
 Anglo African Oil & Gas plc               info@aaog.com 
 James Cane, Interim Chief Executive and 
  Finance Director 
 
 finnCap Ltd (Nominated Adviser)           Tel: +44 20 7220 0500 
 Christopher Raggett, Giles Rolls, Teddy 
  Whiley (Corporate Finance) 
 Camille Gochez (ECM)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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