NTORYA-1 DRILLING UPDATE

RNS Number : 2266X

Aminex PLC

10 February 2012

 



NTORYA-1 DRILLING UPDATE

Aminex PLC ('Aminex' or the 'Company'), an independent oil company listed on the main market of the London and Irish Stock Exchanges with exploration and development assets in the emerging hydrocarbon province of East Africa, today announces an operational update on drilling of the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania. 

On the 7 February 2012 it was announced that the drilling had been temporarily suspended at a depth of 2,500 metres pending further evaluation.  Intermediate logging and check shot data have been evaluated and it has been decided to continue drilling.  An additional target has been identified on the seismic data at a depth of approximately 2,750 metres and the well will now be deepened to test that objective.

Drilling operations have restarted and it is expected that the new target will be reached within a week.

Tullow Tanzania B.V. has elected not to participate in the well deepening activities which will be undertaken by Ndovu Resources Limited (Aminex) and Solo Oil. Aminex and Solo Oil will be responsible for the cost of deepening the well in proportion of their respective interests.

The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, 14 kilometres to the north. 

For further information:

Aminex PLC                                          [phone]

Stuard Detmer - CEO

M: Communications                           

Patrick d'Ancona                                 [phone] or  [phone]

Chris McMahon                     [phone] or  [phone]

 

END

 

 

DRLLLFEVFRIILIF