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LOAN EXTENSION & OPERATIONAL UPDATE

21 Dec 2015 07:00

RNS Number : 6540J
Aminex PLC
21 December 2015
 

 

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

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCZKLFFELFZFBK
Date   Source Headline
26th Sep 20057:00 amRNSTanzania Farm-Out
16th Sep 20055:47 pmRNSRE: Brochure of Particulars
16th Sep 20059:00 amRNSNotifiable Interest
14th Sep 200511:11 amRNSNotifiable Interest
9th Sep 200512:31 pmRNSNotifiable Interest
1st Sep 20053:10 pmRNSNotifiable Interest
25th Aug 20053:02 pmRNSNotifiable Interest
4th Aug 20057:00 amRNSSigning of Agreement
21st Jul 20053:49 pmRNSChange of Address
18th Jul 200512:49 pmRNSNotifiable Interest
15th Jul 20053:25 pmRNSNotifiable Interest
15th Jul 20053:23 pmRNSNotifiable Interest
28th Jun 20057:01 amRNSResult of Open Offer
27th Jun 200511:40 amRNSEGM Result
22nd Jun 20051:15 pmRNSAGM Statement
8th Jun 200511:14 amRNSRe: Ex Date
8th Jun 200510:45 amRNSOpen Offer
3rd Jun 20057:00 amRNSResult of Placing
2nd Jun 20057:01 amRNSProposed Placing & Open Offer
1st Jun 20057:00 amRNSTexas Gas Discovery
11th May 20057:00 amRNSDrilling Commencement
28th Apr 20057:01 amRNSFinal Results
21st Feb 20059:45 amRNSAgreement reached with Petrom
5th Jan 20057:00 amRNSAcquisition of Interest

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