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Additional Information

Market:	LSE
Sector:	Oil and Gas Exploration and Production
EPIC:	AEX
Latest Price:	3.75 (-1.32% )
52-week High:	8.25
52-week Low:	2.61
Market Cap:	30.70M

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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 and Solo Oil to carry out further analysis on Ntorya-1 well

Wednesday, February 08, 2012 by Jamie Ashcroft

Aminex (LON:AEX) and Solo Oil (LON:SOLO) today reported the results of the Ntorya-1 exploration well in Tanzania.

The well has now been drilled to a depth of 2,500 metres. And it did not encounter its targeted sandstone intervals at the prognosed depths of 1,800 to 1,900 metres. However sandstone intervals, containing traces of gas, were encountered at a depth of 2,300 metres.

Further analysis is currently underway using wireline logs and a seismic check-shot survey. This work will help determine whether or not the well will be drilled deeper.

"Ntorya is only the second recent well in the onshore portion of the Ruvuma basin in Tanzania and we are clearly still establishing the accurate correlation between the seismic and well stratigraphy,” said Neil Ritson, Solo Oil’s executive director.

“Additional evaluation of these well results will I am sure be key in helping to unlock the potential for the Tertiary and Cretaceous hydrocarbon plays within the PSA."

Aminex is the operator of the Ntorya well. It has a 56.25 per cent stake in the well. While Solo Oil has an 18.75 per cent stake, alongside fellow JV partner Tullow Oil (LON:TLW) which owns 25 per cent.

Ntorya 1 was drilled in an onshore location in eastern Tanzania. It was drilled to test an area within the Rovuma basin, which is also 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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