REG - Aminex PLC - Ruvuma Operations Update

AminexAnnouncement

02/02/2022 07:00

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RNS Number : 3857A  Aminex PLC  02 February 2022

2 February 2022

 

Aminex plc

("Aminex" or "the Company")

 

Ruvuma Operations Update

 

Operational activities under the Ruvuma PSA in Tanzania, where Aminex owns a
25% carried working interest, have progressed under the supervision of
operator ARA Petroleum Tanzania Limited ("APT"):

·    Seismic camp fully constructed, and the contractor Africa Geophysical
Services Limited ("AGS") is completing the mobilisation of all necessary
equipment to site, which is expected to be completed by mid-February;

·    Acquisition of the 338km(2) 3D seismic survey will commence upon full
equipment mobilisation;

·    The 3D seismic survey is an integral step in progressing and
de-risking the Ntorya gas discovery ahead of the drilling of the Chikumbi-1
("CH-1") well;

·    The seismic acquisition and subsequent interpretation will seek to
refine and confirm the exploitable gas resources of the Ntorya field.
Additionally, the survey will provide greater clarity of the potential upside
of the discovery as identified by the operator APT, through a
re-interpretation of the existing 2D seismic dataset.  APT's revised mapping
and internal management estimates suggest a risked prospective gas in place
("GIIP") for the Ntorya accumulation of 3,024 Bcf (gross basis, mean case), in
multiple lobes to be tested, and a prospective, risked recoverable gas
resource of 1,990 Bcf (gross basis, mean case); and

·    APT continue to progress with well planning for the CH-1 well with
key contracting now being undertaken. The operator continues to target a Q3
2022 spud.

Charlie Santos, Executive Chairman of Aminex commented:

"Progress is being made on the seismic programme. Following the award of the
seismic contract in Q4 2021 and the ongoing mobilisation of the equipment to
site, the Joint Venture expects to commence shooting seismic imminently. This
will provide the high-quality 3D definition of the subsurface in preparation
for the appraisal well to be drilled in Q3 this year. As we enter another
important phase of the activity, we thank APT for the progress made and look
forward to updating shareholders further in due course."

 

 

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                          +44 203 355 9909
 Charles Santos, Executive Chairman

 Davy                                +353 1 679 6363
 Brian Garrahy

 

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