A US$40mln work programme for 2020 has been submitted to the Tanzanian government and includes the drilling of the Chikumbi-1 well and the acquisition of extensive 3D and 2D seismic surveys over the Mtwara licence.
Aminex is fully carried for the cost of the work through its farm-out with Omani group Zubair’s ARA subsidiary, where it expects to receive an advance payment of US$3mln shortly.
The farm-out will reduce Aminex's stake in Ruvuma to 25%.
Elsewhere, the AIM-listed company has also applied for a 3-year extension of the offshore Nyuni Area PSA with a revised work programme.
Max Williams, chief financial officer, is also standing down after 25 years with the company. John Arthur, currently the company’s Group Financial Controller, is taking over as CFO.