RNS Number : 1630B
Aminex PLC
8 January 2018
Aminex plc
("Aminex"
or "the Company")
Operations Update
Aminex is pleased to provide the following operations update
on its assets in Tanzania.
Ntorya-3
The Company is actively engaged with the Tanzanian
authorities and with third-party
engineering firms on advanced well planning
and drilling management for the Ntorya-3 well which it is committed to drill as
soon as operationally possible. A tender process is in progress for a rig to
drill Ntorya-3 as well as for other exploration and development drilling in the
Ntorya gas field and potentially other assets which the Company operates in
Tanzania. The anticipated spud date for
Ntorya-3 will be announced once a rig has been secured.
Kiliwani North
At Kiliwani North, the Company advises that total gross
production from the Kiliwani North-1 well in 2017 was approximately 3600 MMcf
(3.6 Bcf). The well produced 95 MMcf of
gas during the month of December, without intervention and due to natural
pressure recharge, with flow at rates up to 9 MMcf/d. In order to maximise
recovery from Kiliwani North-1, the Company and Tanzania Petroleum Development
Corporation are working together on the installation of compression facilities.
Aminex is currently reprocessing existing seismic data over
the Kiliwani North block and the adjoining Nyuni Area acreage close to the
Songo Songo Island gas processing plant with the aim of identifying potential
new drilling targets which could be brought on stream relatively quickly to
supplement gas production from the existing Kiliwani North-1 well.
Independent Report and Development Licence
Work is well advanced on the Company's independent
evaluation report covering all its Tanzanian resources and this is on track to
be completed in early 2018. The new
report will supersede and update all previous reports on the Company's
concessions in Tanzania, based on newly acquired data and the ongoing reinterpretation
of technical data across all assets.
Positive discussions are ongoing with the Tanzanian
authorities to progress the outstanding Ntorya Development Licence application
and shareholders will be updated as significant milestones are achieved.
Change of Office
Aminex advises that it has changed its London representative
office to Kings Buildings, 16 Smith Square, London SW1P 3JJ with immediate
effect.
Ends