Ntorya-2 Appraisal Well Update

RNS Number : 7274M

Aminex PLC

18 October 2016

 

18 October 2016 

Aminex plc

 ("Aminex" or "the Company")

Ntorya-2 Appraisal Well Update

Aminex is pleased to announce that the civil work for the Ntorya-2 wellsite is now complete and the process of mobilising the Caroil 2 drilling rig and related equipment has begun from the Ntorya-1 well pad to the Ntorya-2 wellsite, approximately 1,500 metres away.  The Ntorya-2 appraisal well is expected to spud late Q4 and once spudded drilling is expected to take between 45 and 60 days. 

Ntorya-2 represents a low risk appraisal well targeting Resources of 153 BCF and follows the discovery well at Ntorya-1, which flow tested at 20 mmcfd with 139 bbls of associate condensate. The Company holds a 75% working interest and is the operator.

For further information, please contact:

Aminex PLC  

Jay Bhattacherjee, Chief Executive Officer                                           [phone]

Max Williams, Chief Financial Officer

Investec Bank plc                                                                            

Chris Sim                                                                                                     [phone]

Davy 

Brian Garrahy                                                                                             [phone]

Shore Capital 

Jerry Keen                                                                                                   [phone]

Camarco 

Billy Clegg / Gordon Poole                                                                       [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.  The Kiliwani North -1 well tested at 40 mmcfd.  Gas is sold at the well head in $US at a fixed price and fed directly into the Tanzania's new pipeline infrastructure to Dar es Salaam. As operator, Aminex has control of the production ramp up, work programme and quantity and timing of future capital expenditure.

​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.  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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