Business
Farm-Out Update
Farm-Out Update.
About this update from Aminex Plc
[{"type":"text","content":"\n Aminex PLC\n21 March 2007\n\n\n\n\n\n\n21 MARCH 2007\n\n\n\n AMINEX PLC\n\n (\"Aminex\" or the \"Company\")\n\n NYUNI / EAST SONGO SONGO PRODUCTION SHARING AGREEMENT, TANZANIA - FARM-OUT\n UPDATE\n\nAminex, the oil and gas company listed on the London and Irish Stock Exchanges,\nannounces that its farm-out of a 20% interest in the Nyuni / East Songo Songo\nlicence in Tanzania to Key Petroleum Ltd. (\"Key\"), announced to shareholders on\n5 February 2007, has been finalised. The two outstanding conditions of the\nfarm-out, being (1) completion of an underwriting agreement for a proposed\nfinancing by Key and (2) formal consent from the Government of Tanzania, have\nnow been met.\n\nAminex also announces that East Africa Exploration has now completed its\nobligations under a seismic programme on the Nyuni / East Songo Songo PSA at a\ncost of $2 million and has now earned a 10% working interest in the PSA.\n\nInterest owners are:\n\nNdovu Resources Ltd. (Aminex subsidiary) 64%\n\nBounty Oil 6%\n\nKey Petroleum 20%\n\nEast Africa Exploration 10%\n\nEND\n\n\n\nEnquiries:\n\n\n\nAminex PLC +44 (0) 20 7291\n3100\n\nBrian Hall - Chief Executive\n\n\n\nPelham Public Relations +44 (0) 20 7743 6679\n\nArchie Berens\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n ","length":1487,"tagName":"div"}]