Last checked at 9 Apr 2018 08:25
9 April 2018
Aminex plc
("Aminex" or "the Company")
Ruvuma Operational Update
Aminex provides the following operational update on its operations in Tanzania.
· The Company continues to be in advanced discussions for a farm-out transaction at Ruvuma, including the Ntorya appraisal area, with an affiliate of the Zubair Corporation, as announced on 21 March 2018.
· The forthcoming well, formerly designated Ntorya-3, has been renamed Chikumbi-1 at the request of the Tanzanian Government. The well is targeting the same reservoir tested in Ntorya-1 and in Ntorya-2 in an updip position and will also be testing a deeper target. The proposed total depth is approximately 3,400 metres.
· The tendering process for a rig to drill Chikumbi-1 is due to close during the current quarter with an expected spud date later in the year, exact timing of which will be dependent on rig availability.
· The National Environment Management Council (NEMC) has approved the Environmental Impact Assessment (EIA) status for the acquisition of further 2D and 3D seismic data over the Ruvuma Production Sharing Agreement acreage, focusing on the Ntorya discovery area.
Ends
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 / James Crothers +44 (0) 20 3757 4980
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.