Ntorya-2 Update

RNS Number : 9530X

Aminex PLC

27 February 2017

 

27 February 2017

Aminex plc

 ("Aminex" or "the Company")

NTORYA-2 Update

Further to the announcement of 6 February 2017, the Company confirms that production testing on the recently drilled Ntorya 2 appraisal well commenced on Saturday 25 February 2017 and gas is flowing to surface.  The well will be tested across a variety of flow rates and choke sizes to determine the optimal deliverability of the well for production purposes.  The Company now expects to have results of the production testing and petrophysical analysis by mid-March.

Ends

For further information, please contact:

Aminex PLC  

Jay Bhattacherjee, Chief Executive Officer                                          [phone]

Max Williams, Chief Financial Officer

Investec Bank plc                                                                            

Chris Sim                                                                                                    [phone]

Shore Capital 

Jerry Keen                                                                                                  [phone]

Davy 

Brian Garrahy                                                                                            [phone]

Camarco 

Billy Clegg / Gordon Poole / Tom Huddart                                           [phone]

Notes to editors

Aminex PLC is a producing company which is premium listed on the London Stock Exchange and primary-listed on the Irish Stock Exchange.  The Company's focus is its three licences in Tanzania, where it was one of the first independent oil companies to enter the country in 2002:

Kiliwani North Development Licence (54.575%) Operator

The Kiliwani North Field has been independently ascribed with 28 BCF gross contingent (2C) resource and is currently in production at 15 mmcfd.  Gas is sold at the well head in $US at a fixed price and fed directly into the Tanzania's pipeline infrastructure to Dar es Salaam.

​Ruvuma Production Sharing Agreement (75%) Operator

The Ruvuma acreage includes Aminex's Ntorya-1 onshore Cretaceous gas discovery which has been independently ascribed 70 BCF gross contingent (2C) resource in the Ruvuma Basin.  The well tested at 20 mmcfd with 139 bbls of associated condensate.  

Nyuni Area Production Sharing Agreement (90%) Operator

The Nyuni Area acreage offers high impact exploration and has been ascribed 4.2 TCF prospective resource.  Drilling success in the region based on 3D seismic has been over 90%.

 

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