The Kiliwani North-1 gas well, which tested at 40 mmscfd, has been completed and is ready to produce. Initial gas production will enable the pipeline operator to pressure-test the pipeline and gas plant mid-2015 with revenue gas flowing shortly thereafter. Following an engineering review, it is now anticipated that a sustained production rate of between 20 to 30 mmscfd, higher than previously planned, would optimise the maximum life of the reservoir. A Gas Sales Agreement ("GSA") is effectively complete but awaiting the finalisation of payment protection clauses and guarantees prior to final signature by all Joint Venture partners. First Kiliwani North commercial gas will be delivered into a 36" regional pipeline system, the construction and pressure testing of which is now complete and will result in Aminex's first commercial production in Africa. The pipeline operator has constructed a sales pipeline from Kiliwani North to the nearby processing plant at its own cost with the Company supplying and installing a gas metering unit. The Company will therefore sell its production at the wellhead, greatly simplifying commercial and management issues and allowing for low operating and production costs. First gas from Kiliwani North will be a major achievement for Aminex.
People are not interested in Solo at the moment. The gsa isn't going to give the massive spike some hope so it is bed down for probably another 6 months unless anything out the blue turns up. Possible as always, at least the price is holding in this range.
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