Ntorya-1 Test Results

RNS Number : 3003G

Aminex PLC

28 June 2012

 

Ntorya-1 Test Results

Ntorya-1 well tests gas at 20 million cubic feet per day

plus condensate

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 results of testing the gas discovery made in the Ntorya-1 well in the Ruvuma Basin onshore in southern Tanzania. 

Testing of the Ntorya-1 well has now been completed.  The upper 3.5 metres of the gross 25 metre sand interval was perforated and the well was flow tested on several choke sizes for extended periods over the last four days with corresponding shut-ins for pressure build-up data. 

The well flowed gas at a maximum rate of 20.1 million standard cubic feet per day (the equivalent of 3,350 barrels of oil per day) and an estimated 139 barrels per day of 48 degrees API condensate through a 1" choke.  Small volumes of formation water were also produced.  The data gathered during testing indicates an initial reservoir pressure of 5,424psi.  Detailed analysis of the pressure data and samples gathered during the testing operation will be carried out in the coming weeks. 

The successful testing of this reservoir will be followed by a programme of seismic acquisition later in the year to gain a fuller understanding of the extent of this discovery and identify further drilling targets. 

Aminex CEO, Stuard Detmer, commented:  "Today's test results clearly demonstrate the strong commercial potential of the Ntorya discovery.  The commercial potential is further enhanced by the presence of condensate with the gas and by the Tanzanian Government's announcement last week that it has secured financing to build a 36" diameter gas pipeline from Mtwara, just 25 km away from the Ntorya-1 discovery, to Dar es Salaam.  The presence of liquids with the gas is promising for future exploration in the Ruvuma block.  Aminex's upcoming seismic and drilling programmes will be aimed at appraising this discovery and pursuing a number of other very encouraging leads on the Ruvuma block."

Participants in the Ruvuma PSA are:  Ndovu Resources Ltd (Aminex) 75% (operator) and Solo Oil Plc 25%.

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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