NTORYA-1 Well Starts Drilling

RNS Number : 5773U

Aminex PLC

23 December 2011

 



NTORYA-1 WELL STARTS DRILLING IN RUVUMA BASIN, TANZANIA

Aminex PLC ('Aminex' or the 'Company') announces that the Ntorya-1 well spudded on 22 December at 19:00 local time in the Ruvuma Basin onshore in Tanzania. 

Ntorya-1 is located 14 kilometres south of the Likonde-1 well, drilled in 2010, which proved the presence of an active petroleum system.   The Ntorya-1 well targets the same high quality Basal Tertiary and Upper Cretaceous sands encountered in the Likonde-1 well.  Aminex estimates that the Ntorya Prospect has a probability of success of around 20%, with mean recoverable resource potential of 100 million barrels of oil equivalent.

Ntorya-1 will be drilled as a vertical well to a planned total depth of 2026m, using the Caroil-6 rig and is expected to reach the main target in around 30 days from spud.

Significant drilling events at Ntorya-1 will be reported to shareholders when appropriate.

Partners in the well are:

Ndovu Resources Ltd (Aminex)                         56.25% (operator)

Tullow Tanzania B.V.                                          25%

Solo Oil PLC                                                          18.75%

For further information:

Aminex PLC                                          [phone]

Stuard Detmer - CEO

M: Communications                           

Patrick d'Ancona                                 [phone] or  [phone]

Chris McMahon                     + 44 (0) 207 920 2358 or  + 44 (0) 7703 045 103

 

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