Business
Drilling Plans for Ruvuma Basin Tanzania
Drilling Plans for Ruvuma Basin Tanzania.
About this update from Aminex Plc
[{"type":"text","content":"\n \nRNS Number : 9742H Aminex PLC 07 June 2011 \n \n\n \n \n \nAMINEX PLC\n \ndrilling plans for ruvuma basin, tanzania\n \n \nAminex PLC (\"Aminex\" or the \"Company\"), announces plans for drilling a further exploration well in the Ruvuma Basin Production Sharing Agreement (\"Ruvuma PSA\") area of Tanzania. The well is designated Ntorya-1 and will be drilled in the Mtwara Block, in the southern part of the Ruvuma PSA.\n \nPartners in the well are Tullow Oil (operator - 50%), Aminex (37.5%) and Solo Oil (12.5%).\n \nIn 2010 the joint venture drilled the Likonde-1 well in the Lindi Block which forms the northern part of the Ruvuma PSA. Likonde-1 reached a total depth of 3,647 metres and intersected two sandstone intervals with a combined thickness of over 250 metres (820 feet), containing evidence of residual oil and gas. Likonde-1 was terminated due to high gas influx.\n \nNtorya-1 well will be drilled about 14 kilometres to the south of Likonde-1, to a planned total depth of 2020 metres, targeting the same high quality Lower Tertiary reservoir sands encountered in the Likonde-1 well. Seismic interpretation places the sands at Ntorya-1 structurally up-dip relative to Likonde-1. Aminex estimates that the well has a probability of success for the discovery of hydrocarbons of approximately 20%, with a mean recoverable resource potential of 100 million barrels oil equivalent.\n \nThe Tanzanian authorities have now formally approved the drilling of Nyorya-1 and a rig has been secured. Spud date is likely to be September-October this year. \n \nAminex chairman Brian Hall commented: \"The Ruvuma basin is a significant frontier exploration area which has witnessed important discoveries offshore in the last two years, in neighbouring Mozambique and most recently with BG's discovery in a deep water licence directly adjoining the Ruvuma PSA. The Ruvuma PSA covers a large, mainly onshore area which has only been lightly explored to date and we welcome the approval of the Tanzanian authorities to the Ntorya-1 location which will enable an exciting drilling programme to continue.\" \n \n \nFor further information please contact:\n \nAminex PLC &nb...