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Aminex PLC - Ruvuma Farm-Out – Government Approval Received

RNS Number : 8183B
Aminex PLC
12 October 2020
 

12 October 2020

 

Aminex plc

("Aminex" or "the Company")

 

Ruvuma Farm-Out - Government Approval Received

Aminex is delighted to announce that its wholly owned subsidiary, Ndovu Resources Limited, has received approval from the Tanzanian Government for the transfer of a 50% interest in, and operatorship of, the Ruvuma PSA to ARA Petroleum Tanzania Limited ("APT"). With receipt of such approval, the Company anticipates completion of the Farm-Out within the next few days. 

Robert Ambrose, Chief Executive of Aminex commented:

"We are delighted to finally receive Government approval of the Farm-Out and would like to thank all agencies of the Tanzanian Government that were involved in the process.  We would also like to thank ARA Petroleum for its invaluable assistance and support in securing Government approval of the Farm-Out and in advancing $5m to the Company over the past 12 months. We now look forward to completing the transaction within the next few days and handing operatorship over to APT."

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

 

  For further information:

 

  Aminex PLC 

 

 

+44 20 3198 8415 

  Robert Ambrose, CEO 

 

  Davy 

+353 1 679 6363 

  Brian Garrahy 

 

 

 

  Camarco 

+44 20 3781 8331 

  Billy Clegg / James Crothers / Daniel Sherwen 

 

 

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