RNS Number : 6997V
Aminex PLC
02 June 2008
2 June 2008
AMINEX PLC
NEW ACREAGE AWARD IN TANZANIA - SONGO-SONGO WEST
Aminex PLC, the oil and gas company listed in London and Dublin ("Aminex" or the
"Company") is pleased to announce the award of a
further Production Sharing Agreement ("PSA") in Tanzania.
This new offshore PSA, known as Songo-Songo West, is adjacent to the western boundary of
the producing Songo-Songo gas field and close
to Aminex's recent gas discovery at Kiliwani North, currently under test.
The new PSA is held 50% by Ndovu Resources Ltd., an Aminex wholly-owned subsidiary, and
50% by Funguo Petroleum Pty Ltd., a wholly-owned
subsidiary of Key Petroleum of Australia ("Key"). Key, an existing 20% joint-venture partner
with Aminex in the nearby Nyuni PSA which
includes the Kiliwani North discovery, has been nominated operator of the new PSA for
Songo-Songo West.
Songo-Songo West covers an area of 504 square kilometres and benefits from comprehensive,
existing seismic coverage. The full PSA term
is for eleven years and there is an obligation to drill one firm well in a first three year
period.
Commenting on the award Aminex Chairman Brian Hall said: "Songo-Songo West is a logical
extension of our existing interests in Tanzania
and we have been pursuing it for some time. Based on extensive knowledge we have gained
through exploring the region over several years we
consider that the new PSA has high potential for the discovery of commercial quantities of
hydrocarbons. We appreciate this further
co-operation with Tanzania's state oil company, TPDC, and with the Tanzanian Ministry for
Energy and Minerals. We are also pleased to be
expanding our relationship with Key, which proved to be a strong and technically competent
partner in our recent drilling campaign at
Nyuni".
For further information:
Brian Hall Aminex PLC London 020 7291 3100
Archie Berens Pelham PR London 020 7743 6679
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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