Aminex PLC Tanzania Update (4490H)
March 16 2015 - 3:00AM
UK Regulatory
TIDMAEX
RNS Number : 4490H
Aminex PLC
16 March 2015
Aminex plc
("Aminex" or "the Company")
Tanzania Update
Variation of Nyuni Area PSA Work Programme
Aminex is pleased to notify shareholders that the Tanzanian
authorities have agreed to the deferral of a two well drilling
commitment on the Nyuni Area PSA, which was due to be completed by
the end of October 2015, into the four-year First Extension which
expires October 2019. The deferral is conditional on an
Environmental Impact Assessment, which has already commenced, and
the eventual acquisition of 3D in the deep water which will be
subject to completion of a tendering process.
The Nyuni Area licence ("Licence") covers onshore, transition
zone, offshore continental shelf and deep water acreage. Previous
exploration on the Licence area has concentrated on the shelf and
included the Kiliwani North-1 gas discovery which is due to start
commercial production into new gas infrastructure in the first half
of the year.
Aminex CEO, Jay Bhattacherjee, commented: "Aminex is grateful
for the support of the Tanzanian authorities for the variation of
the work programme through the deferral of well obligations to
enable exploration on the deep water sector of the licence. With
significant gas discoveries made offshore Tanzania in the last few
years, new 3D seismic over Nyuni Area should enable Aminex and its
partners to unlock the potential of the Licence and allow the
Company to continue to focus primarily on its stated strategy of
production and development through Kiliwani North-1 and Ruvuma
respectively."
For further information:
Aminex PLC +44 20 7291 3100
Jay Bhattacherjee, Chief
Executive Officer
Max Williams, Chief
Financial Officer
Corporate Brokers
Shore Capital Stockbrokers-Jerry
Keen +44 20 7408 4090
Davy Corporate Finance-Brian
Garrahy +35 3 1679 7788
GMP Securities Europe
LLP-Rob Collins +44 20 7647 2816
Yellow Jersey PR (Financial
PR) +44 7768 537 739
Dominic Barretto
Kelsey Traynor
This information is provided by RNS
The company news service from the London Stock Exchange
END
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