NTORYA-1 DRILLING UPDATE

RNS Number : 1428B

Aminex PLC

11 April 2012

 



NTORYA-1 ONSHORE IN THE RUVUMA BASIN, REACHES TOTAL DEPTH

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 the results from deepening the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania. 

On February 27^th 2012, Aminex reported that a gas discovery had been made in a 25 metre gross sand interval between 2,660 metres and 2,685 metres with a 3 metre net gas bearing pay zone in sandstones having 20% porosity at the top and a 16.5 metre thick lower sandstone interval with further possible gas pay. 

After running a 7-inch liner to 2,750 metres, the well was deepened to a final total depth of 3,150 metres and wireline logging was carried out.  Although encouraging gas readings were recorded over a 300 metre interval from 2,850 metres to TD, a deeper target horizon identified on seismic at approximately 3,000 metres was found not to have reservoir potential. 

The well will now be plugged back to the base of the 7-inch liner and completed for testing the gas pay interval.  A test programme will be carried out after the rig has been moved off location.

Participants in the Ruvuma PSA are:

Ndovu Resources Ltd (Aminex)                         75% (operator)

Solo Oil plc                                                           25%

Aminex Chief Executive, Stuard Detmer, commented: "With the completion of drilling at Ntorya-1, operations will now focus on testing the previously announced gas discovery between 2,660 metres and 2,685 metres and planning a seismic programme to evaluate the full potential of the discovery and identify other prospects for future drilling.  Ntorya-1 has successfully extended onshore the Ruvuma Basin play fairway which has recently been the subject of several high profile offshore discoveries. Aminex sees significant further exploration potential for the Ruvuma block, in particular the offshore portion of the PSA which is largely unexplored."

For further information:

Aminex PLC                                          [phone]

Stuard Detmer - CEO

M: Communications                           

Patrick d'Ancona                                 [phone] or  [phone]

Chris McMahon                     [phone] or  [phone]

 

END

 

 

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