Aminex PLC Ruvuma Operations Update (7292D)
June 30 2021 - 12:17PM
UK Regulatory
TIDMAEX
RNS Number : 7292D
Aminex PLC
30 June 2021
30 June 2021
Aminex plc
("Aminex" or "the Company")
Ruvuma Operations Update
Aminex provides the following operational update on activities
on the Ruvuma PSA, onshore Tanzania.
ARA Petroleum Tanzania Limited ("APT"), Operator of the Ruvuma
PSA following completion of the Farm Out in late 2020, has provided
an operational update on the work programme for the Ntorya Location
on the Mtwara Licence containing the Ntorya gas discovery.
The tendering for the acquisition of 454 km(2) 3D seismic has
been completed and the Operator awaits approval from the Tanzanian
authorities for the issue of the seismic acquisition contract. It
is expected that acquisition will now commence later in the third
quarter of 2021. The Chikumbi-1 exploration and appraisal well is
now expected to commence drilling early in the third quarter of
2022. Assuming a successful outcome from the drilling of the
Chikumbi-1 well, first gas from the project is anticipated to occur
by the end of 2024.
In addition, APT has performed a re-interpretation of the
existing 2D seismic dataset and considers the Ntorya gas reservoir
to be the product of a stacked, high-energy, channelised sand
system. Moreover, their revised mapping and internal management
estimates suggest a mean risked gas in place ("GIIP") for the
Ntorya accumulation of 3,024 Bcf, in multiple lobes to be tested
and a mean risked recoverable gas resource of 1,990 Bcf, which will
be appraised by the planned seismic and drilling programme.
Charles Santos, Executive Chairman of Aminex, commented:
"APT, having taken over operatorship, has been actively
progressing the Ntorya discovery towards a significant work
programme in 2021/22. As part of this process, APT has
independently mapped the Ntorya structure and share our excitement
in the ultimate resource potential of the gas accumulation.
The 3D seismic will be essential in optimally locating the
Chikumbi-1 well to derive the most value in determining both
reserve and development potential. We believe that APT's
operational strategy will optimise the potential of the asset and,
with the new seismic, further verify the significant additional
reserve potential identified by the Operator.
We eagerly await receipt of the 3D seismic dataset and to
updating shareholders on further progress in due course."
For further information:
Aminex PLC +44 20 3198 8415
Charles Santos, Executive Chairman
Davy +353 1 679 6363
Brian Garrahy
Camarco +44 20 3781 8331
Billy Clegg / James Crothers / Daniel Sherwen
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END
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