Aminex Discovers Gas in Tanzania

[KVM]

Press Release
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[/FONT][/FONT][FONT=Arial,Arial Narrow][FONT=Arial,Arial Narrow]27 February 2012
[/FONT][/FONT][FONT=Calibri,Calibri][FONT=Calibri,Calibri]DISCOVERY EXTENDS THE RUVUMA BASIN GAS FAIRWAY ONSHORE
[/FONT][/FONT][FONT=Calibri,Calibri][FONT=Calibri,Calibri]Aminex PLC (‘Aminex’ or the ‘Company’), an independent oil company listed on the main market of the London and Irish Stock Exchanges with exploration and development assets in the emerging hydrocarbon province of East Africa, today announces a gas discovery at the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania.
Further to the Company’s update on 15 February 2012, which reported strong gas shows in a good quality Cretaceous reservoir sand at a depth of 2,660 metres, the open hole has now been logged from total depth of 2,750 metres across the zone of interest. Electric logs show a gross sand interval of 25 metres between 2,660 metres and 2,685 metres with a 3 metre net gas bearing pay zone in sandstones with 20% porosity at the top and a 16.5 metre thick lower sandstone interval with further possible gas pay. Proving the presence of reservoired hydrocarbons in Cretaceous sands in Ntorya-1 opens up the potential for additional plays in thick Mesozoic sands encountered by Aminex and partners in the Likonde-1 well just 14 kilometres north of the Ntorya-1 well.
A 7 inch liner will now be run to total depth and the well will then be deepened by a further 250 metres to investigate a prominent seismic event at approximately 3,000 metres. Having previously logged oil shows in the Likonde-1 well drilled in 2010, drilling to deeper targets offers the possibility of finding liquid hydrocarbons.
After the well has been deepened, Ntorya-1 will be suspended for testing at a later date.
Aminex Chief Executive, Stuard Detmer, commented: "Following recent high-profile exploration successes in the offshore Ruvuma Basin of Tanzania and Mozambique, the Ntorya-1 well has established for the first time the presence of reservoired hydrocarbons onshore. Given current plans to develop major gas infrastructure on the coast just 25 kilometres away, this has the potential for commercial development and opens new possibilities in the underexplored onshore regions of our Ruvuma block PSA."
Participants in the discovery and deepening of the well below 2,500 metres are:
Ndovu Resources Ltd (Aminex) 75% (operator)
Solo Oil plc 25%
For further information:
[/FONT][/FONT][FONT=Calibri,Calibri][FONT=Calibri,Calibri]Aminex PLC +44 (0) 20 7291 3100
[/FONT][/FONT][FONT=Calibri,Calibri][FONT=Calibri,Calibri]Stuard Detmer – CEO
[/FONT][/FONT][FONT=Calibri,Calibri][FONT=Calibri,Calibri]M: Communications
[/FONT][/FONT][FONT=Calibri,Calibri][FONT=Calibri,Calibri]Patrick d’Ancona [/FONT][/FONT][FONT=Calibri,Calibri][FONT=Calibri,Calibri]+44 (0) 20 7920 2347 or +44 (0) 7768 981 256
[/FONT][/FONT][FONT=Calibri,Calibri][FONT=Calibri,Calibri]Chris McMahon [/FONT][/FONT][FONT=Calibri,Calibri][FONT=Calibri,Calibri]+44 (0) 207 920 2358 or +44 (0) 7703 045 103
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[Entrepreneur]

Hii ni habari njema kwa uchumi wetu, kama viongozi wetu watatanguliza maslahi yetu

 

[Bigirita]

This is good news kwa Tanzania tuitakayo, lakini sio hii ya sasa..........!!
read my leaps!!

Tunataka kujua ile Rig ya oil kule Mtwara inatoa mafuta lini?
Kwa nini tunafichwa?

 

[Deshbhakt]

okay, good news..when does the electricity price start to come down....(?)

 

[Ibrah]

Hii ni habari njema kwa uchumi wetu, kama viongozi wetu watatanguliza maslahi yetu

Kugunduliwa kwa gesi Tanzania wala si habari tena, ipo tele; Songosongo, Mnazi Bay, Mkuranga, na sasa Ruvuma. They will keep expolring gas on and on lkn hakuna manufaa yoyote kwa uchumi na wananchi; umeme shida, umekuwa suala la dharura kwa miaka minne, gesi ya kupikia, bei haikamatiki.
Iko siku watu watachoka na kuanza kung'oa mabomba wanayotandaza.

 

[Silent Burner]

Tuwe na subira, kugunduliwa kwa gesi (au mafuta) leo, haina maana kuwa manufaa yake yatapatikana mwaka huu au miaka mitatu ijayo, inaweza kuchukua hata miaka 10 au zaidi. Maadam imeshagundulika, tuvute subira manufaa yake yataonekana.

 

[gambagumu]

good news but we should not expect much in a near future, we wil ripe the fruits of this discoveries in after sometime may be in 10Yrs to come.our gov should immediately put in place a proper gas policy to regulate the industry and revenues from gas..the gov should also considering in using the gas to manufacture fertilizer so as it can be localy available and hence this wil boost agriculture industry which majority of wananch rely on.