Business
New PSC In Kenya
New PSC In Kenya.
About this update from Aminex Plc
[{"type":"text","content":"\n Aminex PLC\n25 October 2007\n\n\nFOR IMMEDIATE RELEASE\n\n25 October 2007\n\n\n Aminex PLC (\"Aminex\" or \"the Company\")\n\n New Production Sharing Contract In Kenya\n\n\nAminex PLC, , the oil and gas company listed in London and Dublin, today\nannounces that it has signed a Production Sharing Contract (\"PSC\") with the\nMinister of Energy in Kenya. The PSC covers two contiguous near-shore blocks\ndesignated L17 and L18, partly onshore but mostly offshore, centred on the port\ncity of Mombasa and stretching between the Tanzanian border and the Kenyan\ncoastal town of Kilifi, with a combined surface area of just under 5,000 square\nkilometres.\n\nAminex and its partners previously held a Technical Evaluation Agreement for L17\nand L18 and have already acquired new 2D marine seismic. A seabed core sampling\noperation has also been conducted which has revealed encouraging shows of\nhydrocarbons.\n\nThe PSC is for seven years, with an obligation to acquire seismic in an initial\ntwo year period and drilling commitments in subsequent periods. This is the\nfirst time that a Technical Evaluation Agreement in Kenya has been converted to\nPSC status and the first time that a Kenyan company (partner SomKen Ltd.) has\nembarked on frontier exploration in the country.\n\nAminex is the nominated operator of this PSC with a 25% share. Aminex's partners\nare SomKen Ltd. (35%) and East African Exploration Ltd. (40%).\n\nAminex Chairman Brian Hall commented:\n\n\"While other countries in the East African region have recently witnessed an\nunprecedented boom in exploration activity, Kenya has been relatively quiet.\nOur exploration targets in L17 and L18 are a logical extension of the work we\nare already doing in Tanzania and Madagascar and we are very pleased to have\nsigned this PSC with the Kenyan Minister today\".\n\n\nFor further information:\n\nAminex PLC\nBrian Hall Tel: +44 (0) 20 7291 3100\n\nPelham Public Relations\nArchie Berens Tel: +44 (0) 20 7743 6679\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n ","length":2199,"tagName":"div"}]