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Additional Information

Market:	LSE
Sector:	Oil and Gas Exploration and Production
EPIC:	AEX
Latest Price:	4.85 (4.30% )
52-week High:	9.38
52-week Low:	2.61
Market Cap:	39.70M

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Aminex Full Aminex profile here

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 says Ntorya-1 well is approaching target depth; result due this month

Saturday, January 28, 2012 by Jamie Ashcroft

The potentially high impact Ntorya 1 well is now approaching its target interval, Aminex (LON:AEX) confirmed today.

Aminex is the operator of the keenly followed well in Tanzania. It has a 56.25 per cent in the venture alongside partners Tullow Oil (LON:TLW) and Solo Oil (LON:SOLO), which have 25 and 18.75 per cent respectively.

This morning it was revealed that the well has now been drilled to a depth of 1,535 metres. Drilling is now progressing towards the target intervals, high quality Basal Tertiary and Upper Cretaceous sands, which are at believed to be between 1,800 and 1,900 metres.

Aminex says the well will reach target depth by the end of this month.

The well is estimated to have a 20 per cent chance of success. It is also estimated that a potential discovery would contain 100 million barrels of recoverable oil resources.

Ntorya 1 is being drilled in an onshore location in eastern Tanzania. It is testing an area within the Rovuma basin, which is host to several large gas discoveries offshore in deep waters.

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.

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