June 28, 2019 / 10:10 AM / 18 days ago

BUZZ-Anglo African O&G: Shares drop on lower oil production

** Shares of Anglo African Oil & Gas were down 14% at 5.2 pence

** Co posts a wider pretax loss of 11.7 mln pounds in 2018, from a loss of 3.1 mln pounds a yr ago, after recording an impairment charge of 6.4 mln pounds

** Co fully impaired the value of two wells, TLP-101 and TLP-102, saying that it is “unlikely” that the wells “would ever, on a standalone basis, be commercially viable”

** Co says 2018 revenue from continuing operations drops to 133,503 pounds from 226,757 pounds a year earlier (Reporting by Justin George Varghese in Bengaluru)

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