Tanzania Rig Contract

RNS Number : 0149D

Aminex PLC

16 March 2011

 



Aminex PLC ("Aminex" or "the Company")

TANZANIA RIG CONTRACT

Aminex announces that it has signed a rental contract for use of the Caroil-6 drill rig at Nyuni Island, offshore Tanzania.  The Caroil-6 will be used to drill the Nyuni-2 well, targeting a large Neocomian-age gas prospect, and the rig will be mobilised to Nyuni Island within 60 days.  Nyuni-1 was drilled and suspended in 2004, having encountered gas in shallower Albian-Aptian sands.  Nyuni-2 is an exploration well and will be drilled from the same site as the suspended Nyuni-1 well, but deviated to the south-east at an angle of approximately 30 degrees from vertical.  Planned total vertical depth is approximately 2975 metres and measured depth approximately 3380 metres.

The Caroil-6 was successfully used for drilling Aminex's Kiliwani North-1 discovery well in 2008.  It has since been upgraded with a top-drive and additional mud pump capacity.

Aminex chairman Brian Hall commented:  "Finalising a contract for Caroil-6 is the first major step in our 2011 Tanzanian drilling programme, following our recent fund-raising exercise.  Shareholders will be notified as soon as the Nyuni-2 well has been spudded".

For further information please contact:

Aminex PLC                                          [phone]

Brian Hall - Chairman

Pelham Bell Pottinger                        [phone] or [phone]

Archie Berens

 

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