Last checked at 21 Dec 2015 07:00
21 December 2015
Aminex plc
("Aminex" or "the Company")
LOAN EXTENSION & OPERATIONAL UPDATE
Aminex (LON: AEX) is pleased to announce a six month extension to the repayment of its corporate loan facility to 31 July 2016 has been agreed in principle. The extension will provide the Company with valuable flexibility during the commissioning and testing phase of the Kiliwani North gas field.
Highlights:
· Loan term extended 6 months to 31 July 2016;
· Gas Sales Agreement ("GSA") inclusive of payment protection terms submitted to Tanzanian Attorney General office pending final signature;
· Songo Songo processing plant now complete and ready for Kiliwani North gas to begin commissioning and testing; and
· Final well maintenance work in progress to bring Kiliwani North-1 on stream.
Ndovu has reached agreement with the Tanzanian Petroleum Development Corporation on all terms of the GSA, including acceptable payment protection mechanisms for all gas delivered. The agreement has now been forwarded to the Tanzanian Attorney General's office, whose approval is required prior to formal signing of the much-anticipated agreement.
The Board again acknowledges the patience and support of all shareholders and a further statement will be made regarding the GSA in due course.
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 Aidan Stanley |