Aminex says Tanzania drilling to get underway later this quarter

Aminex plc (LON:AEX) said a drill rig has now been mobilised following the completion of civil works at the Ntorya-2 site in Tanzania.

Around 1.5km from Ntorya-1, the second well will target 153bn cubic (BCF) feet of gas.

Aminex, which owns 75% of the Ruvuma acreage that is host potentially to significant accumulations of gas, sees Ntorya-2 as a low risk appraisal project.

Work will begin late this quarter and is expected to take between 45 and 60 days.

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The original well, completed more than four years ago, flow tested at 20mln cubic feet of gas a day with 139 barrels of gas condensate.

Ntorya-2 well is being drilled into thicker part of the sand body located on the seismic data in 2014.

Aminex’s partner is fellow AIM explorer Solo Oil PLC (LON:SOLO).

The area in question lies just 20 kilometres from the Mtwara to Dar es Salaam gas pipeline which was commissioned in late 2015.

It is transporting gas from various fields, including the Kiliwani North Field, operated by Aminex and where Solo holds just over a 7% stake.

“Advancing the Ntorya appraisal and its commercialisation is now a key objective for Solo and we are pleased that rig mobilisation is now underway,” said Solo chairman Neil Ritson.

“The discovery of gas in high quality Cretaceous sandstone reservoirs in the onshore portion of the Ruvuma Basin represents very significant value and we look forward to confirmation of the spud date in due course.”