Aminex PLC
17 March 2008
AMINEX PLC
17 March 2008
GAS DISCOVERY IN TANZANIA
Aminex PLC ("Aminex") announces a successful result from the drilling of
Kiliwani North -1 ("KN-1"), offshore Tanzania in the Nyuni/East Songo-Songo
licence area.
KN-1 has intersected a substantial gas column in Lower Cretaceous sandstones,
the same reservoir that produces gas commercially in the neighbouring
Songo-Songo gas field. Electric logging has been completed and formation
pressures taken which confirm the presence of gas over a gross interval of
approximately sixty metres. This vertical well was drilled to a depth of 2030
metres (6,687 ft), ahead of schedule.
KN-1 will now be completed as a gas production well pending hook-up for
production and a test will be conducted to determine flow capacity and reservoir
properties. Further appraisal drilling will be required to define the extent of
this discovery.
Preliminary evaluation indicates a gas-water contact approximately 30 metres
deeper than at the adjacent Songo-Songo Gas field. This is a positive outcome
for the potential of other exploration prospects and leads in the Nyuni licence
area. This deeper gas-water contact demonstrates that the KN-1 discovery is in
a separate structure to the Songo-Songo field and this further enhances the
prospectivity of the remaining leads and prospects within the Nyuni licence.
KN-1 also encountered minor oil shows in the Neocomian reservoir section, as
well as confirming the presence of potential reservoirs in the Tertiary section
at an earlier stage in the well.
The Nyuni/East Songo-Songo licence is only one component of Aminex's acreage
portfolio in East Africa, which includes the highly prospective Ruvuma Basin
area of Tanzania as well as large acreage positions in Madagascar and Kenya, on
all of which new seismic has now been acquired. In addition, Aminex is
currently participating in the Malak-1 exploration well in the West esh el
Mellahah concession in Egypt, which spudded on 25 February and is drilling ahead
on schedule.
Aminex chairman Brian Hall commented: "We are now seeing the first real fruits
of our work on the East African margin over several years. Our exploration team
has long believed in the potential of this area, both for oil and gas. KN-1 is
a totally new, deep structure which opens up several avenues for further
exploration on the licence and strengthens the case for oil on the East African
margin. This frontier area, where we were an early pioneer, is now the subject
of strong industry interest. Credit is due to our explorationists and
operations personnel, as well as to our JV partners who have made a strong
technical input to this project and to TPDC (Tanzanian national oil company) and
the Tanzanian Ministry who have provided invaluable cooperation from the outset.
"
Partners in the well are:
Ndovu Resources Ltd. (Aminex subsidiary and operator) 40%
RAK Gas Commission 25%
Key Petroleum Ltd. 20%
East African Exploration Ltd. 10%
Bounty Oil & Gas Ltd. 5%
For further information:
Brian Hall Aminex +44 20 7291 3100
Archie Berens Pelham +44 20 7743 6679
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange