Last checked at 27 Feb 2017 14:00
27 February 2017
Aminex plc
("Aminex" or "the Company")
NTORYA-2 Update
Further to the announcement of 6 February 2017, the Company confirms that production testing on the recently drilled Ntorya 2 appraisal well commenced on Saturday 25 February 2017 and gas is flowing to surface. The well will be tested across a variety of flow rates and choke sizes to determine the optimal deliverability of the well for production purposes. The Company now expects to have results of the production testing and petrophysical analysis by mid-March.
Ends
For further information, please contact:
Aminex PLC
Jay Bhattacherjee, Chief Executive Officer +44 (0) 20 3198 8415
Max Williams, Chief Financial Officer
Investec Bank plc
Chris Sim +44 (0) 207 597 4000
Shore Capital
Jerry Keen +44 (0) 20 7408 4090
Davy
Brian Garrahy +353 (0) 1 679 6363
Camarco
Billy Clegg / Gordon Poole / Tom Huddart +44 (0) 20 3757 4980
Notes to editors
Aminex PLC is a producing company which is premium listed on the London Stock Exchange and primary-listed on the Irish Stock Exchange. The Company's focus is its three licences in Tanzania, where it was one of the first independent oil companies to enter the country in 2002:
Kiliwani North Development Licence (54.575%) Operator
The Kiliwani North Field has been independently ascribed with 28 BCF gross contingent (2C) resource and is currently in production at 15 mmcfd. Gas is sold at the well head in $US at a fixed price and fed directly into the Tanzania's pipeline infrastructure to Dar es Salaam.
Ruvuma Production Sharing Agreement (75%) Operator
The Ruvuma acreage includes Aminex's Ntorya-1 onshore Cretaceous gas discovery which has been independently ascribed 70 BCF gross contingent (2C) resource in the Ruvuma Basin. The well tested at 20 mmcfd with 139 bbls of associated condensate.
Nyuni Area Production Sharing Agreement (90%) Operator
The Nyuni Area acreage offers high impact exploration and has been ascribed 4.2 TCF prospective resource. Drilling success in the region based on 3D seismic has been over 90%.