Business
KILIWANI NORTH UPDATE
KILIWANI NORTH UPDATE.
About this update from Aminex Plc
[{"type":"text","content":"\n \nRNS Number : 0617S Aminex PLC 15 March 2016 \n\n \nAminex plc\n \nKILIWANI NORTH UPDATE\n \nAminex PLC (\"Aminex\" or \"the Company\") is pleased to advise that the final well integrity testing of the Kiliwani North-1 well (\"KN-1\") has been concluded, recording a high tubing pressure reading relative to the other producing wells on Songo Songo Island. A wellhead control panel has been installed and all work required by the Company prior to gas production will shortly be complete.\n \nTanzania Petroleum Development Corporation (\"TPDC\") has provided a revised work schedule and informed the Company that the commissioning of the Songo Songo Island gas plant is expected to commence in early April. During the commissioning programme, the initial production rates will be managed to allow for testing of the new gas processing facility and related pipelines. \n \nAll KN-1 gas will be sold to the TPDC at wellhead for an agreed price of $3.00 mmBTU (approximately US$3.07 per mscf), payable in US dollars, and will ultimately be transported by pipeline to Dar es Salaam, where it will be sold into the local Tanzanian market.\n \nAminex CEO, Jay Bhattacherjee, commented: \"The successful conclusion of the well integrity tests and installation of the wellhead control panel finalises the Company's preparations prior to the commissioning of the new Songo Songo Island processing facilities. Aminex looks forward to the commencement of gas production and revenues from Kiliwani North.\"\n \n \n\n\n\n\nFor further information:\n \n\n\n\n\n\n\n\nAminex PLC\n\n\n+44 20 7291 3100\n\n\n\n\nJay Bhattacherjee, Chief Executive Officer\n\n\n\n\n\n\n\nMax Williams, Chief Financial Officer\n\n\n\n\n\n\n\n \nCorporate Brokers\n\n\n\n\n\n\n\nShore Capital Stockbrokers-Jerry Keen\n\n\n+44 20 7408 4090\n\n\n\n\nDavy Corporate Finance-Brian Garrahy\n\n\n+35 3 1679 7788\n\n\n\n\n \nCamarco\n\n\n \n+44 20 3757 4980\n\n\n\n\nBilly Clegg\nGordon Poole\n\n\n\n\n\n\n\n \nNotes to editors\n \nAminex PLC is a gas and oil production, development and exploration company which is premium listed on the London Stock Exchange and primary-listed on the Irish Stock Exchange. Aminex is run by an established management team which is aligned with shareholder...