Last checked at 23 Dec 2011 09:35
NTORYA-1 WELL STARTS DRILLING IN RUVUMA BASIN, TANZANIA
Aminex PLC ('Aminex' or the 'Company') announces that the Ntorya-1 well spudded on 22 December at 19:00 local time in the Ruvuma Basin onshore in Tanzania.
Ntorya-1 is located 14 kilometres south of the Likonde-1 well, drilled in 2010, which proved the presence of an active petroleum system. The Ntorya-1 well targets the same high quality Basal Tertiary and Upper Cretaceous sands encountered in the Likonde-1 well. Aminex estimates that the Ntorya Prospect has a probability of success of around 20%, with mean recoverable resource potential of 100 million barrels of oil equivalent.
Ntorya-1 will be drilled as a vertical well to a planned total depth of 2026m, using the Caroil-6 rig and is expected to reach the main target in around 30 days from spud.
Significant drilling events at Ntorya-1 will be reported to shareholders when appropriate.
Partners in the well are:
Ndovu Resources Ltd (Aminex) 56.25% (operator)
Tullow Tanzania B.V. 25%
Solo Oil PLC 18.75%
For further information:
Aminex PLC +44 (0) 20 7291 3100
Stuard Detmer - CEO
M: Communications
Patrick d'Ancona +44 (0) 20 7920 2347 or +44 (0) 7768 981 256
Chris McMahon + 44 (0) 207 920 2358 or + 44 (0) 7703 045 103