Aminex are a gas exploration and development company operating in Tanzania. They are premium-listed on the London Stock Exchange - #AEX.
They have recently announced a farm-out deal with Oman-based Zubair, a larger gas producer for the Ntorya gas field, its largest asset.
The company has been exploring and developing the Ntorya field for several years now, with the success of wells N1 and N2 giving confidence that when N3 is drilled it will confirm a find of up to 1.9 Trillion cubic feet of gas. This will be nationally significant in Tanzania hence the involvement of the Government in the deal.
The deal is non-dilutive and brings cashflow, derisking the project for Aminex and its shareholders. Aminex will continue to focus on gas exploration and development in Tanzania, and will continue to look at other projects.
Aminex (AEX)