Aminex Share News (AEX)

Aminex Makes Progress In Tanzanian Negotiations

Northcote acquires interest in producing leases from Aminex

Northcote Energy, an onshore US oil and gas exploration and production company, has signed an agreement with Aminex to acquire a 25 per cent working interest in a number of producing leases at the South Field in Texas. Oil and gas producer Aminex will be paid in the region of $0.45m dollars, which

Aminex deal delays pile pressure on finances

Oil and gas explorer Aminex has yet to secure a long-awaited buyer for its US assets nor a farm-out partner for its major projects in Tanzania. The lack of a deal has put pressure on the company's finances, with the refinancing of a short-term loan required soon. However, one of the the three p

Aminex extends bidding period for Ruvuma Basin farm-out

Aminex, an exploration company focused on East Africa, said Tuesday that it has extended the bidding period for its proposed farm-out of an interest in the onshore Ruvuma Basin, Tanzania, where it made a discovery of natural gas and condensate in 2012. The extension was made at the request of seve

Aminex falls as chief executive departs

Aminex, an exploration company focused on East Africa, fell on Tuesday after the firm said its Chief Executive was to leave immediately. The firm said Stuard Detmer was also stepping down as a director of the company "to pursue other business interests" with immediate effect. Chairman Brian Hall w

Aminex shakes hands on an 8.0m dollar loan facility

Aminex, an exploration company focused on East Africa, has agreed an eight million dollar loan facility with a fund manager by Argo Capital Management, with which the company has had a long standing relationship. The loan, which carried a 12.5% coupon (rising to 15% per cent from July 1st 2013), h

Solo puts Tanzania assets on the table

Solo Oil has begun marketing the farm-out of its oil and gas assets in the Ruvuma Basin of Tanzania in collaboration with Aminex. It is offering firms up to 50% interest in the licences in return for any "financially robust partner" funding a disproportionate share of the planned forward work prog

Aminex falls as US sale plans delayed further

Aminex, an exploration company focused on East Africa, fell after it said a planned sale of its US assets had slipped back into 2013. The firm also said talks over a $15m loan, repayable from the proceeds of the sale of the US assets, were ongoing and were expected to be concluded "in the near futu

Aminex Tanzania estimates quadruple

Aminex, the oil and gas explorer has issued a big upgrade of the resources at the Ruvuma and Nyuni Area Licences in Tanzania. A new study of the area has come back with a total "undiscovered" estimate of 5.75 trillion cubic feet (TCF) in place at Ruvuma and of 5.67 trillion cubic feet of gas in pl

Aminex comes up trumps in Tanzania

Aminex, an exploration company focused on East Africa, has announced a successful test of its gas discovery in southern Tanzania. The work on the Ntorya-1 well showed gas flowing at a maximum rate of 20.1m standard cubic feet per day (the equivalent of 3,350 barrels of oil per day). Aminex's Chief

Solo Oil and Aminex leap on Ruvuma Basin update

Shares in Solo Oil and Aminex jumped on Thursday morning after the companies announced signficant results from the flow testing of the Ntorya-1 well at its discovery in the Ruvuma Basin onshore in southern Tanzania. The firms reported that the well flowed gas at a measured rate of 20.1m cubic feet

Resource round-up: Caspian Holdings, Aminex, Continental Coal

Caspian Holdings reported good progress on its drilling programme at La Parrilla, located in southwest Spain. La Parrilla, a former producing open pit mine, closed in the 1980s. But the firm said its latest assay results showed strong indications of continuity of high grades through the western exte

Aminex and Solo suffer Tanzanian setback

Oil and gas explorers Aminex and Solo Oil took a tumble after a disappointing drilling result at that their jointly owned Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania. Hopes were raised at the end of February when Aminex, the operator and 75% owner of the Ruvuma production sha

Resource companies round-up: Aminex, Magnolia, Central Rand ...

Aminex, operator and majority owner of the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania, said further drilling of the well has encountered strong gas shows in a good quality reservoir. A logging programme will commence shortly to evaluate the new section drilled below 2,500 metr

Small caps round-up: Aminex, Solo, Firestone Diamonds ...

Oil and gas companies Aminex and Solo Oil took a hit on Tuesday morning after the first stab at drilling their shared Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania proved disappointing. Data will now be recorded to determine whether or not to drill further. Aminex shares fell 38