Aminex PLC Ntorya-2 Appraisal Well Update (7274M)
October 18 2016 - 2:00AM
UK Regulatory
TIDMAEX
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 +44 (0) 20 3198
8415
Max Williams, Chief Financial Officer
Investec Bank plc
Chris Sim +44 (0) 207 597 4000
Davy
Brian Garrahy +353 (0) 1 679 6363
Shore Capital
Jerry Keen +44 (0) 20 7408 4090
Camarco
Billy Clegg / Gordon Poole +44 (0) 20 3757 4980
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%.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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