Aminex will go deeper to maximise potential at Ruvuma in Tanzania
“Ntorya-3 is ready to go but want to make sure, we maximise as many targets as we possibly can.”
Company
LON:AEX
Aminex PLC is an Africa-focused oil and gas company with near term production, development and high impact exploration. Fully funded to production, and with a new and experienced management team, Aminex has a world class asset base with proven large resource potential and a route to monetisation.
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“Ntorya-3 is ready to go but want to make sure, we maximise as many targets as we possibly can.”
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A look at the world of small cap oll and gas news this week
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A glance at some of the stories on the Proactive newswire today
A look at today's biggest risers and fallers in London
Chief executive Jay Bhattacherjee described it as “a major milestone” as the group continues gas sales in Tanzania and advances plans for the next well programme at the Ntorya project.
The pound has plummeted against the dollar on dovish remarks from Bank of England Governor Mark Carney
Including Helium One’s Rukwa project; the risked NAV (net asset value) estimate is upgraded to 0.9p/share (from 0.8p/share previously)
The Ntorya-3 appraisal well may be delayed in favour of acquiring another batch of 3D seismic over the licence.
"Ntorya-2 has increased the size of the discovery and de-risked additional prospectivity"
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A look back at the week’s highlighted news for junior oilers
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A glance at some of the stories on the Proactive newswire today
Shares climbed just shy of 15% after Aminex estimated some 466bn cubic feet of gas at the Ntorya project in Tanzania.
A look at the top risers and fallers in London on Monday
New resources numbers are now based on two successful wells at the Ntorya project.
The FTSE 100 closed 150 points, or 2.11% higher, as investors welcomed Macron's result in the first round of France's presidential election
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The new estimates, revealed in a new power point presentation, put the field’s oil-initially-in-place in a range of 1.29bn to 3.03bn barrels
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A glance at some of the stories on the Proactive newswire today
Aminex has options to make money locally before a larger gas field development to feed Tanzania’s national gas network.
The company will submit an application to the Tanzanian authorities for a 25-year development licence.
The index of blue-chip shares succumbed to selling pressure