Ruvuma Farm-Out Update

RNS Number : 5082T

Aminex PLC

21 March 2019

 

21 March 2019

Aminex plc

("Aminex" or "the Company")

Ruvuma Farm-Out Update

Aminex announces that all parties to the previously announced Ruvuma farm-out agreement have agreed to an extension to the longstop date to 31 July 2019.  The Company and ARA Petroleum Tanzania Limited ("APT") have made good progress on closing out the conditions precedent, including all joint venture partner approvals, and are actively engaged with the Government of Tanzania to close out the remaining conditions.

The principal conditions still to be met are the extension of the Mtwara Licence and approval by the Tanzanian Government of the transfer of the interest and operatorship.  The Company and APT continue to work closely with the Tanzanian authorities to close out these conditions as soon as possible.

Jay Bhattacherjee, Chief Executive of Aminex PLC, said:

"Aminex and APT have had positive meetings with the Tanzania Government regarding the Ruvuma farm-out and look forward to the continued support of the Tanzanian authorities in closing out these remaining conditions and, in so doing, facilitating the progression of the Ntorya Development and specifically the drilling of the Chikumbi-1 well."

Ends

For further information:
Aminex PLC	[phone]
Jay Bhattacherjee, Chief Executive Officer
Max Williams, Chief Financial Officer
Davy	[phone]
Brian Garrahy
GMP FirstEnergy Hugh Sanderson	[phone]
Shore Capital	[phone]
Jerry Keen
Camarco	[phone]
Billy Clegg / James Crothers / Daniel Sherwen

 

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