Nyuni PSA Extension and Operational Update

RNS Number : 1712S

Aminex PLC

19 December 2016

 

Aminex plc

 ("Aminex" or "the Company")

Nyuni PSA Extension and Operational Update

Aminex is pleased to announce that it has now received formal approval from the Minister of Energy and Minerals in Tanzania to extend the current work period of the Nyuni Area PSA for a period of four years until at least 27^th October 2019.

The Company is also pleased to advise that it has now formally accepted the Carol-2 rig following inspection by an independent surveyor and Ntorya-2 drilling operations in the Ruvuma Basin commenced over the weekend.  Spudding of Ntorya-2 is expected in the next few days and will be confirmed by RNS.

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 15mmcfd.  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. As operator.   

​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.  Aminex is currently appraising the discovery as well as continuing exploration activity on the licenced area in the prospective Ruvuma Basin.

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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