www.aminex-plc.com
Aminex is an oil and gas exploration, development and production company with a 19 year track-record of fulfilling projects in many areas of the world. Its shares are traded on the Full List of the London Stock Exchange.
The company’s principal focus areas are the East African coastal margin of Tanzania and the US onshore Gulf Coast of Texas and Louisiana.
Aminex expects Ntorya-1 to reach total depth this month
Aminex (LON:AEX) today told investors that it expects the Ntorya-1 well to reach total depth by the end of this month.
In a drilling update this morning the firm said that the rig is now drilling at a depth of 620 metres. It expects to reach the well’s target interval at a depth of 1,800 to 1,900 metres.
Aminex subsidiary Ndovu Resources owns 56.25 per cent of the prospect and is the well operator. Tullow (LON:TLW), with 25 per cent, and Solo Oil (LON:SOLO) 18.75 per cent, are partners in the project.
The well is located on the Rovuma basin in an onshore area in Tanzania. It is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, which was located 14 kilometres to the north.
Aminex estimates that Ntorya has a 20 per cent chance of success and estimates mean recoverable resource potential of 100 million barrels of oil equivalent.
The Ruvuma Basin has become extremely active for the oil and gas industry in recent years.
Anadarko (NYSE:APC) of the US with partner Cove Energy (LON:COV) have drilled several successful deep water gas wells offshore in the Mozambique sector of the basin.
BG (LON:BG) and partner Ophir Energy (LON:OPHR) also made an offshore gas discovery in the Tanzanian sector last year, in a licence which adjoins Ruvuma.
