NTORYA-1 DRILLING UPDATE
Aminex PLC ('Aminex' or the 'Company'), an independent oil company listed on the main market of the London and Irish Stock Exchanges with exploration and development assets in the emerging hydrocarbon province of East Africa, today announces a further update on drilling of the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania.
The well was spudded on the 22 December 2011 and has been drilled to 1,535 metres where an intermediate casing string has been set. The well is now drilling ahead towards the target interval of approximately 1,800 to 1,900 metres depth. Ntorya-1 is expected to reach total depth around the end of January.
The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, 14 kilometres to the north. Aminex estimates that the Ntorya Prospect has a probability of success of around 20%, with mean recoverable resource potential of 100 million barrels of oil equivalent.
Partners in the well are:
Ndovu Resources Ltd (Aminex) 56.25% (operator)
Tullow Tanzania B.V. 25%
Solo Oil plc 18.75%
For further information:
Aminex PLC +44 (0) 20 7291 3100
Stuard Detmer - CEO
M: Communications
Patrick d'Ancona +44 (0) 20 7920 2347 or +44 (0) 7768 981 256
Chris McMahon +44 (0) 207 920 2358 or +44 (0) 7703 045 103
Aminex is a London Full List oil and gas exploration, development and production company with oil and gas production in two US states, a 40 million cubic feet/day gas discovery in Tanzania currently being appraised and three exploration licences in Tanzania. In the relatively unexplored Tanzanian Ruvuma Basin Aminex is in an active drilling joint venture with Tullow Oil where the first exploration well was spudded on 9 January 2010. Aminex also participates in an active drilling programme onshore Gulf of Suez, Egypt and has a long-standing exploration relationship with the government of North Korea which is likely to become active when regional politics permit.Visit the Aminex PLC website
