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    Aminex Still in Tanzania Farmout Talks

Summary

The AIM-listed explorer remains in talks over a farm-out of its Tanzania onshore gas exploration acreage.

by: Mark Smedley

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Natural Gas & LNG News, Africa, Corporate, Exploration & Production, News By Country, Oman, Tanzania

Aminex Still in Tanzania Farmout Talks

London AIM-listed Aminex said April 9 it remains in talks over a farmout of its Tanzania onshore gas exploration acreage, close to the Mozambican border.

It “continues to be in advanced discussions for a farm-out transaction at Ruvuma, including the Ntorya appraisal area, with an affiliate of the Oman-based Zubair Corporation, as announced March 21 2018.” An affiliate of Zubair owns 29.9% of Aminex.

It added that its forthcoming appraisal well, previously designated Ntorya-3, has been renamed Chikumbi-1 at the request of the Tanzanian government. Proposed total depth is 3,400 metres. The tendering process for a rig to drill Chikumbi-1 is due to close during by the end of June with an expected spud date later this year, depending on rig availability.

Aminex holds a 75% interest in the Ruvuma production sharing agreement (PSA), with UK Solo Oil 25%. Two months ago Aminex said the PSA upgraded resources there to 1.87 trillion ft3 gas initially in place.

A source for Aminex said the renaming is after the Tanzanian village of Chikumbi, next to the Ruvuma wellpad, and not a Zambian refugee camp of the same name bombed in 1978 by the Rhodesian air force.

Solo chairman Neil Ritson said: “We are pleased that plans to drill at Ntorya continue to advance and that a second target below the Ntorya discovery can additionally be tested with the planned well.  Solo continues to make its own plans, in parallel with Aminex, to fund the eventual development of Ntorya.” Both firms are looking to receive a 25-year development licence for the Ntorya discovery, he said.

Aminex has had technical problems at its existing producing gas field, Kiliwani North, nearer the Tanzanian capital Dar es Salaam, in which Solo and others are partners.