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Ntorya Appraisal Licence Awarded
Ntorya Appraisal Licence Awarded.
About this update from Aminex Plc
[{"type":"text","content":"\n \nRNS Number : 7511I Aminex PLC 08 July 2013 \n \n\n \nNTORYA APPRAISAL LICENCE AWARDED\n \nAminex PLC (\"Aminex\" or the \"Company\"), the London and Dublin listed oil and gas company, is pleased to announce that its application for an Appraisal Licence at its Ntorya-1 discovery well in Tanzania has been approved for gazettal by the Tanzanian authorities.\n \nIN 2012, Ntorya-1 successfully tested gas at a rate of 20 million cubic feet per day (equivalent to more than 3,000 barrels of oil per day) and 139 barrels per day of 53ºAPI condensate, thought to be a higher percentage of liquid hydrocarbons than has been encountered in any other well drilled in Tanzania, onshore or offshore, to date. Ntorya-1 was drilled in the Ruvuma Production Sharing Agreement area (\"Ruvuma PSA\") and was the second well in the programme. An independent estimate of gas discovered by this single well was 178 billion cubic feet (\"BCF\") in place, which Aminex considers to represent a contingent (recoverable) resource of 134 BCF (equivalent to over 20 million barrels of oil). \n \nBased on the independent assessment of in-place gas volumes, Aminex estimates that the Ntorya prospect has a further prospective (recoverable) resource of 753 BCF. Aminex estimates the potential for a total prospective (recoverable) resource of over 4 trillion cubic feet (\"TCF\") in all the prospects already identified within the 6,078km² area of the Ruvuma PSA.\n \nThe appraisal programme will comprise a further seismic survey to delineate the extent of the Ntorya discovery and drilling of an appraisal well and the Appraisal Licence area consists of nine contiguous five minute by five minute graticular blocks around the Ntorya-1 discovery from a total of 72 blocks in the PSA area. The Appraisal Licence is granted for a period of two years with options to extend at the discretion of the Minister for Energy & Minerals. \n \nThe seismic survey is planned for the autumn of this year and will form part of a larger survey to delineate other leads and prospects within the Ruvuma PSA.\n \nThe Ruvuma PSA partners are actively seeking industry partners to farm into the Ruvuma PSA and negotiations are in progress.\n \nAminex chairman Brian Hall, commented: \n\"The gazettal of this new licence is an important s...