Aminex ups GIIP figures for Tanzania asset

LONDON, April 24, 2017 – Aminex on Monday communicated the results of appraisal drilling and testing across the Ntorya area in Tanzania’s Ruvuma production-sharing agreement area.

Having successfully tested two gas wells, Aminex said there is reason to put the Pmean estimate of gas initially in place (GIIP) at 13.2 bcm (466 bcf), up from the audited May 2015 figure of 4.3 bcm (153 bcf).

The area’s P90 GIIP estimate rose from 878 mcm (31 bcf) to 1.75 bcm (62 bcf), while the P10 GIIP number was adjusted to 32 bcm (1.13 tcf), from 9.4 bcm (332 bcf) earlier.

“A tripling of resources in the Ntorya appraisal area is clearly excellent news for shareholders and partners and highlights that the Ruvuma PSA is a basin that is of national importance for Tanzania, CEO Jay Bhattacherjee said in a press release.

Aminex is in talks with the government on obtaining a 25-year development licence for Ntorya. The company is the operator of the Ruvuma PSA, holding a 75% stake.

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