Business
Tanzanian Government Approval Of Farm-In
Tanzanian Government Approval Of Farm-In.
About this update from Aminex Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 7588B Aminex PLC 24 February 2011 \n \n\n \n \n \n \nAMINEX PLC\n \nTANZANIAN GOVERNMENT APPROVAL OF FARM-IN\n \n \nAminex PLC (\"Aminex\" or the \"Company\") announces that it has now received formal approval from the Tanzanian Ministry of Energy and Minerals to acquire an additional 15% working interest from Key Petroleum Ltd. ('Key') in the Nyuni East Songo-Songo Production Sharing Agreement (\"Nyuni PSA\") offshore Tanzania. The agreement with Key was announced on 4 February 2011 and was subject only to this single condition. Aminex is acquiring the additional 15% interest through undertaking to pay 20% of the costs of drilling the Nyuni-2 well, due to be spudded in April this year. After the farm-in, Aminex (operator) will have a 65% interest in the Nyuni PSA, held through its wholly-owned subsidiary Ndovu Resources Ltd., including existing gas discoveries. Other interests in the Nyuni PSA will be: RAK Gas Commission 25%, Key 5% and Bounty Oil & Gas Pty Ltd. 5%.\n \n \nFurther information:\n \nAminex PLC +44 (0) 20 7291 3100\nBrian Hall - Chairman\n \nPelham Bell Pottinger +44 (0) 20 7861 3112 or +44 (0)7802 442486\nArchie Berens\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCTJMLTMBITBIB\n\n ","length":3063,"tagName":"div"}]