Momentum Builds: Aminex Focused on Delivery

Ntorya pipeline moves ahead as East Africa’s largest onshore gas project takes shape

Aminex has taken to social media to underline just how far things have come in the last six months — and just how close we are to seeing first gas. The company’s latest update highlights the transition from preparation to delivery, with Ntorya now firmly in construction.

Construction Under Way

The award of the Ntorya-Madimba pipeline contract is the pivotal milestone. Procurement has already begun, groundworks are scheduled for early 2026, and commissioning is targeted for mid-year. This isn’t planning on paper — it’s execution on the ground.

As Aminex noted:

“The Ntorya Gas Development has now advanced definitively into its construction phase… This milestone has in turn catalysed wider activity on the ground and across the project.”

An Expanded Vision

In parallel, operator APT has submitted a revised Field Development Plan. This is no small tweak. It lays out:

• A 35-year production horizon

• A phased development approach

• A materially higher long-term gas plateau than previously envisaged

The scale is transformative. Ntorya has the potential to deliver more gas than Tanzania currently produces as a nation, underpinning power generation, industry, and economic growth for decades to come.

From Restructure to Revenue

The past few years were about restructuring and positioning. That stage is now complete. Aminex is entering the second half of 2025 with:

• A clear pipeline construction schedule

• Strong operator and government support

• A free carry through development to material revenues

The focus is now squarely on delivery and value growth.

Ntorya: A Central Role in Tanzania’s Future

As Aminex put it:

“As the largest onshore gas development in East Africa, supported by a stable regulatory environment, expanding domestic demand, and long-term licence tenure, Ntorya positions Aminex to play a central role in Tanzania’s energy future.”

That’s the big picture. Aminex isn’t simply progressing a gas project — it is part of a national transformation.

Aminex Turns the Corner: Tanzania's Largest Onshore Gas Field Enters Construction Phase

Government Support, Strategic Partnerships & Imminent First Gas Position Aminex as a Long-Term Growth Play

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🚧 Boots on the Ground: Construction Has Begun

Aminex has officially entered the construction phase of the Ntorya Project—Tanzania’s largest onshore gas development. It’s a major step forward for the company and a defining milestone for Tanzania’s energy future.

“This project is of national importance,” says Executive Chairman Charles Santos.
“It’s a path to sustainable growth for Aminex and long-term economic benefits for Tanzania.”

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Strategic Position in Tanzania’s Energy Landscape

Aminex is one of the few listed companies with deep roots in Tanzania’s energy sector. The company entered the country in 2002 and was behind the first gas-to-power delivery from Songo Songo Island in 2016. Now, with the Ntorya gas field, Aminex is again at the center of a high-impact development.

“There’s only one other listed company with our Tanzanian focus,” Santos notes.
“That offers a unique opportunity for investors seeking direct exposure.”

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🤝 ARA Partnership: A Game-Changer

Following financial restructuring and strategic repositioning, Aminex completed a farm-out in 2020 to ARA Petroleum Tanzania, which now holds 75% and operates the Ntorya field. Aminex retains a 25% interest but is fully carried through $140 million of project costs, significantly de-risking its position.

“The project has been sufficiently de-risked,” says Santos.
“We’ve got a 25-year development license, and government funding is in place for the pipeline. We’re approaching revenue.”

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💡 Project Momentum: What’s Already Done?

• ✅ EPC contract awarded to two Chinese engineering firms (CPP & CPTDC)

• ✅ Pipeline mobilisation starting September 2025, construction kicks off January 2026

• ✅ First gas expected July 2026, Aminex revenue begins ~1 month after

• ✅ NT-2 well already ready for hook-up, with NT-1 and CH-1 to follow

• ✅ Initial production of 60 mmcf/day, ramping up to 140 and then 280 mmcf/day in phases

• ✅ Government has approved funding and support, signalling long-term commitment

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📈 Scale and Geology: East Africa’s Largest Onshore Gas Find

The field spans over 300 km² and is estimated to contain 3.45 trillion cubic feet of gas in place.

“We expect to recover 75% of that over 35 years,” says Technical Director Tom Mackay.
“That aligns with our license and gives us an incredibly strong, long-term cash flow profile.”

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⚡ Why Ntorya Matters to Tanzania Now

Tanzania faces a chronic electricity shortfall. While offshore projects are years away, Ntorya offers immediate, onshore, cost-efficient gas—perfect for power generation and industrial growth.

“Tanzania needs gas now—not in five or ten years,” says Santos.
“Ruvuma fills that urgent niche.”

The government’s commitment is evident:

• 🏗️ Fully funding pipeline infrastructure

• 📜 Committed through TPDC’s back-in rights

• 🔁 Working to accelerate drilling approvals and regulatory support

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💬 Aminex Outlook: From Survival to Sustainability

In 2020, Aminex was on the edge—struggling with declining production, paused deals, and COVID-related delays. But fast forward to today, and it’s a different story:

“We’ve survived the hard part,” says Santos.
“Now we’re on the road to stable cash flow and long-term growth. Aminex is back.”

With over $200 million already invested in Tanzania, Aminex is poised to start generating revenues within a year. Once cash flow starts, the company plans to:

• Revisit its Kiliwani asset (potential 3D seismic and reactivation)

• Renegotiate and reshape the Nyuni Area licence

• Continue expanding Ruvuma’s output and infrastructure

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🧠 Investor Takeaway:

• ✅ Construction is now underway

• ✅ Revenue expected Q3 2026

• ✅ Long-term licence with major gas reserves

• ✅ De-risked by carry structure

• ✅ Supported by government infrastructure and policy

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🚀 Final Word from the Chairman

“We’re very optimistic. This is no longer a ‘potential’ story—it’s execution now. Our future is production, revenue, and long-term impact.”

Aminex Gears Up for 2026 Gas Production with Pipeline, CPF & Drilling Momentum

Key infrastructure moves from planning to action as Ntorya gas strategy accelerates

Aminex PLC is entering a transformational phase in Tanzania’s Ruvuma Basin as construction and drilling preparations advance toward first gas in 2026. With the full backing of the Tanzanian government and TPDC, the Ntorya development is finally gathering visible momentum—offering long-term value upside for shareholders.

🚧 Pipeline & CPF: A 30 km Link to Market

The 30-kilometre gas pipeline connecting Ntorya to the Madimba Gas Plant has been awarded to industry heavyweight China Petroleum Pipeline Engineering (CPPE), with equipment from CPTDC.

• Mobilisation begins: September 2025

• Pipelaying window: January to July 2026

• Project completion: By July 2026

The Central Processing Facility (CPF) will be built at Ntorya, ensuring direct feed into Tanzania’s national gas infrastructure.

For context: a 30 km pipeline is modest in scale for CPPE, which routinely handles 500+ km builds globally. This adds further confidence in timeline discipline.

🛠️ Drilling Plans: Rig Options & Timeline

Following PURA’s approval of the rig tender strategy in August 2025, the operator ARA Petroleum has already issued Expressions of Interest (EOIs)—ahead of schedule.

Candidate rigs include:

• Exalo Rig 202 – active in Zimbabwe; likely available late 2025 after Invictus campaign

• PR Marriott rigs – currently in Kenya

• Nabors rigs – in Uganda

• ARA’s own Oman-based fleet – with three active rigs that could redeploy within 3+ months

🎯 Drill Timing:

• Optimistic spud: December 2025

• More likely: January–February 2026

🌍 Government Support + Investor Upside

With a 25-year Development Licence in hand and the full cooperation of Tanzanian authorities, Aminex stands to benefit from:

• Favourable PSA terms

• 50% annual cost recovery from production revenues

• Strong local partnerships through TPDC and regional contractors

📊 Resource Potential: Strong Base, Big Upside

• Certified 2C net reserves: ~0.4 Tcf

• Full basin potential: Estimated 16+ Tcf, with up to 4 Tcf net to Aminex

• Condensate uplift: Up to +15% revenue enhancement

• Oil shows at Ntorya-2 add further exploratory upside

🎨 What’s Next on the Blog

Expect regular updates with simplified graphics, clean infographics, and clear investor messaging. We'll track:

• Pipeline milestones

• CPF progress

• Drilling mobilisation

• Project economics and PSA mechanics

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🔎 Bottom Line

The pieces are falling into place. Aminex is closer than ever to unlocking substantial long-term value at Ntorya—and 2026 is shaping up to be the inflection point.

Stay tuned for more updates as we track every move toward first gas.

Aminex Spotlight: Why Our Ntorya–Madimba Pipeline Contractors Are Among the Best

Why China Petroleum Pipeline Engineering and China Petroleum Technology & Development are the right partners to deliver Ntorya’s critical link to the grid—on time, safely, and at scale.

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1. Introducing the Contractors

China Petroleum Pipeline Engineering Co. Ltd. (CPP/CPPE)

• A CNPC subsidiary and one of the world’s leading pipeline builders

• Track record includes 130,000 km of onshore pipelines, 500 km offshore, storage terminals, and underground facilities across 50+ countries

• Key landmark projects: the $3.3bn Habshan–Fujairah oil pipeline in UAE (operational by 2012); flagship West-East Gas Pipeline and Myanmar–China Pipeline

• Awarded national quality prizes (e.g., 2016 Luban Award for Myanmar pipeline)

China Petroleum Technology & Development Corp. (CPTDC)

• Another CNPC affiliate, CPTDC focuses on technical services and equipment for oil & gas operations.

• Globally active with 53 offices, supplying drilling rigs, workover rigs, and over 5,000 km of pipeline equipment

• Manages full lifecycle support—from procurement to commissioning and after-sales, with ISO/API certifications

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2. Reliability & Capacity to Execute Multiple Projects

• CPP has consistently executed mega-scale pipelines globally, often running projects simultaneously across continents.

• By contrast, the Ntorya pipeline is a homogenous 30 km project, a minor undertaking in their portfolio—it’s operationally compact and fast-trackable.

• Their active project management systems, deep regional experience, and ability to mobilise mid-sized dedicated teams make them well equipped for this assignment.

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3. Understanding the Ground Realities—What They’ll Overcome in Tanzania

• Terrain includes local farmland and minor water crossings. Similar terrain—river crossings, wetlands and rural landscapes—have been part of CPP’s projects like the China–Russia East Route Gas Pipeline crossing the Yangtze ~70 m underground

• Challenges such as material logistics, handling monsoon weather, and community sensitivity are well within CPP and CPTDC’s wheelhouse due to previous African, Middle East, and Asian projects.

• They’ll leverage local contracts, operate under strong HSE protocols, and deploy their advanced welding and inspection tools, including their self-developed “Four Full-Capacity” systems.

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4. What This Means for Aminex Investors

• Project Scope: 30 km, straight-line, within-known terrain → straightforward logistics.

• Schedule Confidence: Mobilisation starts Sept ’25; pipelaying Jan–July ’26, which is short, manageable, and fits industry norms for this scale.

• Risk Mitigation: Contractor selection gives confidence—both in building competence and experience across simultaneous large-scale projects.

• Execution Edge: CPTDC ensures that technical challenges—from heavy lifting to commissioning—are matched with responsive support and global-standard quality.

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Summary Table

Attribute	CPP / CPTDC Strength
Size & Scope	Global-scale experts, this project is small-scale
Delivery Track Record	Major pipelines delivered ahead of schedule
Local Conditions	Tropical, flooding, and rural logistics familiar territory
Dual Project Delivery	EACOP and Ntorya pipelines overlap timelines; CPP handles both
Technical Depth	Advanced welding, inspection, and commissioning tools

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Bottom line:
Selecting CPP and CPTDC brings elite-level pipeline execution capability to Ntorya’s infrastructure. What may appear as modest work is well within their capability—and using these trusted contractors significantly lowers delivery risk for investors.

Aminex Update: Pipeline Procurement Underway and Rig Tender Process Accelerates

Following yesterday’s RNS, new disclosures confirm Expressions of Interest for rig services have already been issued — ahead of schedule.

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Yesterday’s RNS: Two Key Milestones

On 27th August, Aminex released an RNS confirming significant operational progress at Ntorya:

• Pipeline:

  • Contractors have begun procurement of pipe and equipment for the 35 km Ntorya–Madimba pipeline.

  • Mobilisation of construction equipment is scheduled for September 2025.

  • Groundwork and pipelaying are due to start in January 2026, with completion by July 2026.

• Rig Tender:

  • The Petroleum Upstream Regulatory Authority (PURA) has approved the tender strategy for a drilling rig.

  • This approval enables drilling of Chikumbi-1 (CH-1) and a workover of Ntorya-1 (NT-1).

  • The RNS stated that Expressions of Interest (EOIs) from service contractors would be requested next week.

• Condensate Discussions:

  • TPDC, APT, and Aminex also discussed the processing and storage of condensate, highlighting an additional revenue stream beyond gas sales.

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Today’s Update: Ahead of Schedule

Less than 24 hours later, it has been confirmed via today’s release on X (formerly Twitter) that the Expressions of Interest have already been issued, a full week earlier than suggested in the RNS.

This over-performance signals:

• Strong operator momentum from APT.

• A clear alignment with Tanzanian regulators and stakeholders.

• A demonstration that the project is moving faster than timelines originally set out.

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Why This Matters for Investors

The combination of pipeline procurement, firm groundwork dates, and now the early launch of the rig tender process creates visible momentum on all fronts:

• De-risked schedule: Procurement and mobilisation show the pipeline is firmly on track.

• Accelerated rig contracting: The early release of EOIs means CH-1 and NT-1 are moving closer to execution.

• Additional upside: Condensate monetisation discussions could provide another layer of value.

This update underscores the Government of Tanzania’s and APT’s commitment to delivering Ntorya gas to the Madimba plant on time — and potentially even ahead of schedule.

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Closing Thought

Investors have long waited to see Ntorya move from planning into visible execution. With procurement underway, mobilisation imminent, and the rig tender already advancing faster than expected, that moment has arrived.

The project is not just progressing — it is gathering pace.

From Field to Flame: Building the Ntorya–Madimba Gas Link

 

Charting Tanzania’s Next Step in Energy Security and Growth

When Tanzania granted a 25-year development licence for the Ntorya gas field, it marked the beginning of a project with national importance. Ntorya, in the Ruvuma Basin, contains multi-trillion cubic feet of natural gas and will be the source for the new 30 km pipeline linking it directly to the Madimba processing plant on the coast.

This isn’t just about steel in the ground. It’s about unlocking energy security, creating jobs, and building a long-term framework that rewards both the country and the companies developing the resource.

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1. Preparing the Source – Ntorya Field

Before gas can flow, the operators (ARA Petroleum Tanzania and Aminex/Ndovu) must:

• Drill and complete new production wells.

• Install wellhead equipment and flowlines.

• Build a central processing facility (CPF) to clean, condition, and compress the gas.

The CPF is the key that unlocks the project — the point where the raw resource becomes a reliable supply stream.

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2. Where the Pipeline Begins

Because the Madimba gas plant already exists, construction of the new line is expected to start from the coastal end.

• Crews will mobilise at Madimba where access roads, storage yards, and metering facilities are already in place.

• A second team will move outward from Ntorya, preparing the line toward the centre.

• The two spreads will eventually meet with the “golden weld” that completes the system.

This staged approach means visible progress at the coast, while upstream facilities at Ntorya are finalised.

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3. Surveying, Trenching, and Welding

Once the route is cleared:

• Surveyors peg the line.

• Trenches are cut into farmland and bushland with environmental care.

• Pipes are strung out, welded, x-rayed, and coated.

• Sections are lowered into place and backfilled with soil.

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4. Compression, Metering & Safety

• At Ntorya, the CPF compresses gas into the line.

• Along the route, valve stations provide monitoring and emergency shut-off capability.

• At Madimba, a metering station ensures accurate accounting under the Gas Sales Agreement (GSA).

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5. Testing & Commissioning

Before any commercial flow:

• The pipeline is hydrotested with high-pressure water.

• Sensors and inspections check integrity.

• Regulators certify the system for use.

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6. First Gas & Growth Path

The agreed sales profile provides certainty:

• Initial 40 MMscf/d in the first contract year.

• Expansion toward 140 MMscf/d in later years as infrastructure ramps up.

This structured growth path allows investors to see immediate revenue with clear upside capacity.

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7. Why It Matters

• Certainty of Market: The GSA with TPDC guarantees offtake.

• Government Alignment: Tanzania has amended the PSA and committed to building the link to Madimba.

• Long-Term Stability: A 25-year licence underpins project economics.

• National Impact: Jobs, community engagement, and new energy supplies for southern Tanzania.

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Closing Thought

The Ntorya–Madimba pipeline is more than an engineering project — it’s a strategic bridge. It links the resource potential of the Ruvuma Basin with the processing power of Madimba and the demand of the national grid.

For Tanzania, it secures energy and economic growth.
For investors, it offers a project with clarity, alignment, and visible momentum.

TPDC’s Coastal Gas Push: 2000+ Industries, 102 km Pipeline, and the Strategic Role of Ntorya

 

President’s official announcement signals a major acceleration in Tanzania’s domestic industrial gas demand — here’s why it matters for investors.

1. The Announcement: Straight from the Top

On her official Facebook account, Tanzania’s President has outlined an ambitious new natural gas initiative.
Frame-by-frame translation of the video text reveals:

• “TPDC opens doors of 2000+ industries to natural gas on the coast”

• “TPDC to build 102 km pipeline from Dar es Salaam to Chalinze”

• “2000+ industries to be established in Kwala Strategic Zone”

This is not speculative commentary. It’s a direct communication from the country’s highest political office, signalling official intent and policy direction.

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2. Project Overview

The announcement contains three intertwined elements:

1. 102 km Gas Pipeline (Dar es Salaam → Chalinze)

   • Extends the existing national gas grid north from Dar.

   • Likely to connect with or support future Dar–Mombasa pipeline plans.

   • Includes a branch to Kwala for industrial supply and export handling.

2. Kwala Strategic Industrial Zone

   • Envisioned as a major manufacturing hub with 2000+ industries.

   • Positioned as a cornerstone of Tanzania’s industrialisation and export strategy.

3. Integration with Regional Energy Trade

   • Although not stated in the video, previous planning documents have referenced the Dar–Mombasa subsea pipeline (with connections to Tanga and Zanzibar), indicating regional export ambitions.

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3. Why This Matters: The Demand Shock

The scale of ambition is enormous.
For context:

• In August 2024, TPDC reported only 56 industries connected to the national gas system.

• Moving from 56 to 2000+ represents a 35-fold increase in industrial connections.

• Even at a conservative 1 MMscf/d per industry, this would imply 2000 MMscf/d of new industrial demand — multiples of Tanzania’s current total production.

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4. Current Supply Reality

Existing Production

• Songo Songo: Small offshore field; mature and declining.

• Mnazi Bay: Producing but with limited reserves and long-standing commercial disputes.

Offshore LNG Megaprojects

• Shell and Equinor-led developments remain in negotiation stage.

• First gas unlikely before the early 2030s.

Implication

The government’s own timelines for industrial build-out mean it cannot wait for offshore LNG.
It must rely on near-term, scalable, onshore resources — and that puts Ntorya in the spotlight.

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5. Ntorya’s Strategic Position

• Resource scale: Independent estimates show Ntorya’s gas in place sufficient for multi-decade supply at hundreds of MMscf/d.

• Infrastructure: Pipeline to Madimba under EPC contract, with CNPC leading — first gas expected mid-2026.

• Commercial terms: Aminex fully carried to ~$40m net, with a more favourable PSA than industry norms.

• Market linkage: Named as primary supplier for the Mtwara LNG project (400 → 1,200 MMscf/d).

• Ramp-up plan: 14-well programme targeting 420 MMscf/d capacity.

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6. From Dar to Kwala: The Corridor Effect

The new Dar–Chalinze pipeline creates an industrial corridor:

• Dar: Tanzania’s commercial hub.

• Chalinze: Strategic road and rail junction.

• Kwala: New manufacturing and logistics hub.

This corridor could act as a gas demand anchor in the same way industrial zones drive pipeline economics in other countries. Once in place, the network can:

• Supply large anchor customers.

• Spur smaller industrial users along the route.

• Serve as a feed point for regional exports to Kenya and beyond.

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7. Investment Implications

Short-Term

• The President’s announcement provides political cover for accelerating infrastructure approvals.

• Market sentiment could improve as investors see government-backed demand pipelines emerging in parallel with Ntorya’s development.

Medium-Term

• Demand growth in the Kwala zone could outpace initial Ntorya production, giving Aminex and its partners strong pricing leverage — especially for industrial sales (which Orca’s 2024 data shows average $8.45/MMBtu).

Long-Term

• If the 2000+ industry target is even half-met, Tanzania will require multiple hundreds of MMscf/d of new supply, creating room for both domestic sales and LNG exports.

• Ntorya could transition from being one supplier among many to being the critical swing producer in the domestic market.

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8. Risks and Realism

• Execution risk: Government timelines for industrial build-out have historically slipped.

• Funding: The 69.6 billion shilling allocation for the 102 km pipeline (~$26.5M USD) covers construction but not necessarily all ancillary infrastructure.

• Demand pacing: While 2000+ industries is the target, actual connections will likely ramp gradually.

However, policy intent is clear, and the infrastructure moves are real enough to warrant investor attention now.

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9. Bottom Line for Investors

The President’s public endorsement of a 102 km coastal pipeline and a 2000+ industry Kwala zone signals a new phase in Tanzania’s energy and industrial policy.
For Aminex and Ntorya, it means:

• Locked-in demand growth that fits perfectly with Ntorya’s production timeline.

• Pricing upside from industrial sales into a market with tightening supply.

• Strategic positioning as the only near-term, large-scale onshore resource capable of meeting these targets.

At today’s sub-2p share price, the market is valuing Aminex as if these policy shifts didn’t exist. If execution follows even half of the announced plan, that disconnect won’t last.

Aminex Awakens: Fueling Tanzania’s Natural Gas Boom

 

Aminex PLC: At the Heart of Tanzania’s Gas Revolution

With booming domestic demand and a $4.5B LNG project citing Ntorya as a primary supply source, Aminex is poised for a transformational leap.

Aminex PLC is emerging as a quiet powerhouse in East Africa’s natural gas revolution, and recent developments suggest that the company may be significantly undervalued and underappreciated. With two major announcements shaking up the energy landscape in Tanzania, Aminex finds itself in a uniquely strategic position — one that could dramatically reshape its future and market perception.

Gas-Powered Public Transport: A Signal of Growing Demand

In a bold push toward sustainable urban mobility, Tanzania has welcomed the arrival of 99 new natural gas–powered buses — the first phase of a planned fleet of 755. These buses will serve Dar es Salaam’s expanding BRT network, with an additional 250 buses already confirmed for delivery.

This isn’t just about transport — it’s a strong signal from the Tanzanian government that natural gas is set to play a central role in the country’s energy strategy. This is the kind of demand surge that companies like Aminex, with proven gas reserves and infrastructure development underway, are perfectly positioned to meet. As public and private sectors transition toward cleaner energy, the local market for gas is heating up — and Aminex is right in the middle of it.

The Mtwara LNG Project: A Game-Changer

While the bus news is significant, the real game-changer is the newly announced Mtwara LNG project — a $4.5 billion mega-development with truly global ambitions. This isn’t a pipe dream. It’s a state-supported initiative involving key players such as Tanzania’s national petroleum corporation. And critically, Ntorya — the onshore gas field where Aminex holds a carried 25% interest — is listed as the primary supply source for this massive LNG and CNG infrastructure rollout.

The Mtwara project aims to start with 3 million tonnes per annum of LNG production (equivalent to around 400 million standard cubic feet of gas per day), scaling to 9 MTPA over time. It will serve both domestic and regional needs, with distribution hubs planned across Tanzania, Kenya, Zambia, the DRC, Mozambique, and beyond — even targeting exports to Asia. It’s a pan-African clean energy corridor with real momentum, and Aminex’s Ntorya field is the backbone.

Strategic Alignment and Market Potential

Put simply, Aminex is no longer just a junior energy company sitting on a gas discovery. It’s now a key player in Tanzania’s rapidly developing energy infrastructure — both for domestic consumption and international export. With its costs covered through carried interest, its resource positioned near the coast, and a state-endorsed demand engine forming around it, Aminex is ideally placed for long-term success.

For investors, this is a rare moment: the stars are aligning, and the market has yet to fully catch on. Aminex’s story is no longer just about proven reserves — it’s about strategic importance, national energy transformation, and regional opportunity.

As Tanzania turns up the heat on gas-led development, Aminex may well be one of the sector’s biggest beneficiaries.

 Here’s the latest weekly summary of Aminex PLC developments, incorporating official updates and Tanzanian press coverage:

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Aminex Ignites: Early Drilling, Accelerated Pipeline, and Momentum Into 2026

The tempo has changed—and this time, it’s real.

Following this week’s AGM and official field updates, Aminex has entered the execution phase of the Ntorya development. With shareholder confidence rising and new operational details confirmed, the value case is solidifying. For investors watching from the sidelines, the clock is ticking.

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🔧 Chikumbi‑1 to Be Drilled Before Pipeline Completion

In a significant pivot from prior expectations, the Aminex Board confirmed that Chikumbi‑1 (CH‑1) will be drilled before the Ntorya–Madimba pipeline is completed.

Why does this matter?

It means:

• CH‑1 results will be known well ahead of first gas

• The market will re-rate on resource confirmation, not just revenue

• Aminex can issue an updated CPR sooner, likely boosting reserves and valuation

This decision wasn’t speculative—it’s now the base case, supported by all project partners, including TPDC and PURA.

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🛠️ Pipeline Construction Timeline Compressed

While the official guidance says 12 months, industry talk suggests the pipeline could be completed in as little as 8 months. That would shift commissioning forward into Q1 or Q2 2026, compressing the timeline for Aminex to receive first cash flow from gas sales via NT‑2.

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💥 What’s Coming and Why It Matters

The execution roadmap is now clear and packed with near-term catalysts:

• Rig tender imminent (August 2025)

• CH‑1 spud likely in late 2025

• NT‑2 well test scheduled pre-pipeline

• New CPR and Phase 2 planning in 2026

• Condensate uplift + industrial pricing flexibility

Each of these events has the potential to drive share price momentum—independently.

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🧮 Production Expectations Skyrocket

The Board confirmed that CH‑1 is expected to flow at ~50 MMscf/d—more than double prior assumptions. That’s because the well will target thicker, stacked reservoirs, including untapped units.

This single well could anchor Phase 1 delivery and define Phase 2 scalability.

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💧 Condensate Could Add +15% to Field Value

Condensate volumes are now forecast to provide an additional 15% value uplift—a high-margin revenue stream not yet fully priced into market expectations.

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💸 Gas Pricing Includes Upside Leverage

Two revenue-enhancing features:

• Inflation indexing in the GSA

• Premium pricing from industrial offtakers

With Tanzania’s mining and manufacturing sectors expanding, Aminex and ARA are well positioned to capture higher-than-utility tariffs.

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🛡️ Strong JV Dynamics—ARA Wants Aminex In

Despite owning 75%, ARA isn’t pushing Aminex out. The Board made it clear: the public listing provides transparency, credibility, and valuation clarity that ARA finds valuable.

If a buyout were coming, it would’ve happened already.

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📊 Phase 2 = 280 MMscf/d

Aminex’s long-term role just expanded. With up to 16.4 tcf unrisked gas in place, TPDC and ARA have revealed plans for:

• 6 more wells

• A second pipeline

• Expanded processing capacity

The target is now 280 MMscf/d, not 140. Ntorya is being positioned as a national energy hub.

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🪙 Financial Runway and First Cash Flow

Aminex has sufficient funds to maintain operations until first cash flow expected by mid‑2026. With NT‑2 as the first producer and CH‑1 to follow, this positions Aminex for sustainable profitability.

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🔚 Final Word

This isn’t just another speculative frontier gas story.

• The rig is coming.

• The drill will happen before gas flows.

• The pipeline may finish early.

• And Aminex has clear upside leverage—both technically and commercially.

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📈 Projected Share Price Catalyst Chart

Each catalyst represents a standalone opportunity for revaluation. And as the timeline accelerates, the market’s response could become even more aggressive.

If you’re looking for asymmetric upside in frontier energy, Aminex just moved into the fast lane.