A virtually bankrupt company like AEX will of course not commit to drilling a new well. The whole purpose of the Ntorya-1 sidetrack is to present this as a "new" exploration well to the Tanz government, as part of their obligation to drill 4 wells in Ruvuma before end of 2016 (well #3, out of 4).... Could work of course. still, without new funding and/or without production revenues, the company expects to default on 31 Jan 2016...
From the interim management statement RNS dated the 19th May 2015. Word for word.... the company is planning to drill the appraisal well late in 2015 subject to available finance or acceptable farm-out offer, unless this happens soon Ntorya will not happen this year.
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