Aminex PLC Corporate Update and New Website (5625L)
July 20 2017 - 2:00AM
UK Regulatory
TIDMAEX
RNS Number : 5625L
Aminex PLC
20 July 2017
20 July 2017
Aminex plc
("Aminex" or "the Company")
Corporate Update and New Website
Aminex is pleased to report that it has now received a further
payment from Tanzania Petroleum Development Corporation ('TPDC')
for Kiliwani gas sales. The Company continues to work with TPDC to
bring arrears fully up to date. Aminex has a strong balance sheet
and is a debt-free gas producer. Production from the Kiliwani North
1 well continues to average 15 MMcf/d during 2017.
In the Ruvuma area the Company is fully engaged on its updated
basin model which includes preliminary re-mapping of multiple
stratigraphic fairways and updated resource numbers. A gas
development plan is being prepared by io oil & gas consultancy.
These, together with submission of the Ntorya Field development
plan to TPDC, are expected to be completed in early September.
Aminex is also re-evaluating existing data over its licence
interests around Songo Songo Island to identify further drilling
targets which could ultimately produce additional gas into the
Songo Songo Island processing plant.
The Company's new mobile-friendly website has been launched this
morning and can be accessed using the following link,
www.aminex-plc.com.
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 / James Crothers +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:
Ruvuma Production Sharing Agreement (75%) Operator
The Ruvuma acreage includes Aminex's Ntorya-1 and Ntorya-2
onshore Cretaceous gas discoveries in the Ntorya appraisal area, a
component of the Ruvuma PSA. The Company considers that the Ntorya
appraisal area has Pmean GIIP of 466 Billion Cubic Feet ('BCF'),
being a three-fold increase over the previous estimate of 153 BCF
which was audited by LR Senergy in May 2015. The Ntorya-1 well
tested at 20 MMscd with 139 bbls of associated condensate and the
Ntorya-2 well tested at an average flow rate of 17MMscd on a 40/64'
choke.
Kiliwani North Development Licence (57.4474%) Operator
The Kiliwani North Field has been independently ascribed with 28
BCF gross contingent (2C) resource and is currently in production
at 15 MMscd. 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.
Nyuni Area Production Sharing Agreement (93.3333%) 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%.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCOKCDQABKDNOD
(END) Dow Jones Newswires
July 20, 2017 02:00 ET (06:00 GMT)
Aminex (LSE:AEX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Aminex (LSE:AEX)
Historical Stock Chart
From Jul 2023 to Jul 2024