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Ruvuma Farm-Out Update

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RNS Number : 5082T
Aminex PLC
21 March 2019
 

21 March 2019

 

 

Aminex plc

("Aminex" or "the Company")

 

Ruvuma Farm-Out Update

 

Aminex announces that all parties to the previously announced Ruvuma farm-out agreement have agreed to an extension to the longstop date to 31 July 2019.  The Company and ARA Petroleum Tanzania Limited ("APT") have made good progress on closing out the conditions precedent, including all joint venture partner approvals, and are actively engaged with the Government of Tanzania to close out the remaining conditions.

 

The principal conditions still to be met are the extension of the Mtwara Licence and approval by the Tanzanian Government of the transfer of the interest and operatorship.  The Company and APT continue to work closely with the Tanzanian authorities to close out these conditions as soon as possible.

 

Jay Bhattacherjee, Chief Executive of Aminex PLC, said:

"Aminex and APT have had positive meetings with the Tanzania Government regarding the Ruvuma farm-out and look forward to the continued support of the Tanzanian authorities in closing out these remaining conditions and, in so doing, facilitating the progression of the Ntorya Development and specifically the drilling of the Chikumbi-1 well."

 

Ends

 

For further information:


Aminex PLC

+44 20 3198 8415

Jay Bhattacherjee, Chief Executive Officer


Max Williams, Chief Financial Officer 




Davy

+353 1 679 6363

Brian Garrahy




GMP FirstEnergy

Hugh Sanderson

+44 20 7448 0200



Shore Capital

+44 20 7408 4090

Jerry Keen

 


Camarco

+44 20 3781 8331

Billy Clegg / James Crothers / Daniel Sherwen






 


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