New Well Starts Drilling in Tanzania

RNS Number : 6276I

Aminex PLC

17 June 2011

 



AMINEX PLC

NEW WELL STARTS DRILLING IN TANZANIA

Aminex PLC ('Aminex' or the 'Company') announces the spudding of the Nyuni-2 well, offshore Tanzania.  The well spudded shortly after 00:00 hours this morning, local time, Friday 17^th June.

Nyuni-2 is being drilled from a surface location on the small Nyuni Island, approximately 30 kilometres off the mainland of Tanzania, to the south of the Rufiji River delta, using the Caroil-6 land rig.  The well will target the same Neocomian sandstones which form the reservoirs in the nearby Songo-Songo gas field and in the Company's own Kiliwani North gas field reservoir.    An additional target is an Aptian/Albian sandstone reservoir which was logged as gas-bearing in the Nyuni-1 well, which was drilled but not tested in 2004. 

Nyuni-2 will be deviated to the south-east at an angle of 29 degrees from vertical to target a bottom-hole location approximately 1.200 metres away from the island.  Total measured depth is likely to be 3,325 metres and total vertical depth 2,964 metres subsea.  It is estimated that drilling to target depth will take 9-10 weeks.

Nyuni-2 will be the fourth exploration well drilled in the Nyuni area by Aminex as operator, and two of the previous wells discovered gas in commercial quantities. 

Significant drilling events at Nyuni-2 will be reported to shareholders when appropriate.

Partners in the well are:

Ndovu Resources (Aminex)                                65% (operator)

RAK Gas                                                                 25%

Bounty Oil                                                             5%

Key Petroleum                                                      5%

For further information:

Aminex PLC                                          [phone]

Mike Rego - Exploration Director

Pelham Bell Pottinger                        [phone]  or [phone]

Archie Berens

 

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