Likonde-1 Well Update

RNS Number : 3393I

Aminex PLC

10 March 2010

 



 AMINEX PLC

LIKONDE-1 WELL UPDATE, RUVUMA BASIN, TANZANIA

Aminex PLC ("Aminex") advises that Tullow Oil PLC, operator of Likonde-1 has today provided the following progress update on the well:

"Tullow has interests in the onshore Lindi and Mtwara blocks in the frontier Ruvuma Basin in southern Tanzania. Following interpretation of newly reprocessed seismic data, Likonde-1 was selected as the first well to establish the potential of a possible new oil play fairway. The well commenced drilling in January 2010 and a result is expected in late March 2010. Further evaluation planned for 2010 includes reprocessing the seismic dataset and incorporating and interpreting the new drilling results, the outcome of which will influence the forward exploration programme."

Joint venture partners in Likonde-1 are:

Tullow Oil (50% - operator)

Aminex (37.5%)

Solo Oil PLC (12.5%)

For further information please contact:

Aminex PLC                                        [phone]

Brian Hall - Chairman

Pelham Bell Pottinger                   [phone] or [phone]

Archie Berens

 

END

 

 

DRLUKRORRSAORUR