Tanzanian Government Approval Of Farm-In

RNS Number : 7588B

Aminex PLC

24 February 2011

 



AMINEX PLC

TANZANIAN GOVERNMENT APPROVAL OF FARM-IN

Aminex PLC ("Aminex" or the "Company") announces that it has now received formal approval from the Tanzanian Ministry of Energy and Minerals to acquire an additional 15% working interest from Key Petroleum Ltd. ('Key') in the Nyuni East Songo-Songo Production Sharing Agreement ("Nyuni PSA") offshore Tanzania.  The agreement with Key was announced on 4 February 2011 and was subject only to this single condition.  Aminex is acquiring the additional 15% interest through undertaking to pay 20% of the costs of drilling the Nyuni-2 well, due to be spudded in April this year.  After the farm-in, Aminex (operator) will have a 65% interest in the Nyuni PSA, held through its wholly-owned subsidiary Ndovu Resources Ltd., including existing gas discoveries.  Other interests in the Nyuni PSA will be:  RAK Gas Commission 25%, Key 5% and Bounty Oil & Gas Pty Ltd. 5%.

Further information:

Aminex PLC                                          [phone]

Brian Hall - Chairman

Pelham Bell Pottinger                        [phone]  or [phone]

Archie Berens

 

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